Organizational Wellness

Attract and Retain Top Talent with Millennial Wellness Initiatives

Last Updated Aug 22, 2024

Time to read: 10 minutes

Is your company struggling to attract younger talent? You're not alone.

Millennials are harder to hire and retain than other generations, largely because they have different priorities and considerations. One of the biggest defining moments of this generation is that many of them graduated into the Great Recession, when the unemployment rate exceeded 10%, according to the Bureau of Labor Statistics. This means that, rather than chasing a massive salary, millennials are after stability, security, flexibility, and mental wellness support.

If you’re struggling to meet the demands of millennial workers, there’s no need to worry. With the right benefits programs, you’ll be able to tweak your company culture to suit millennial tastes and attract the top talent from this generation.

Millennial Wellness Priorities

The millennial generation has gone through unique struggles and historical events that shaped them into who they are today. Because of this, they have unique priorities when it comes to employee benefits.

Mental Wellness Support

Move over, foosball tables. Millennials are more interested in mental wellness support than flashy office perks. In fact, more than half of all millennials say they would take a 20% pay cut in exchange for better employer-provided mental health support, according to a 2024 Ford Trends survey. They’re seeking employers who offer counseling services, stress management workshops, and mental health days.

Work-Life Wellness

For millennials, work-life balance is so last decade. They’re all about work-life wellness, which takes things one step further by providing flexible schedules, remote work options, and employers who understand that, sometimes, life happens during business hours.

More than half of all millennials value being in control of their work schedule, according to a 2023 Shiftboard survey. So, offering more flexibility regarding working hours is a win for millennials.

Holistic Health Approach

Millennials aren’t just hitting the gym — they’re embracing wellness from every angle. They’re looking for programs that address physical, mental, emotional, and even spiritual well-being. Think yoga classes, meditation rooms, and nutrition workshops.

Financial Wellness

Millennials have been burdened by student loans, unlike any other generation. This stresses them out. Approximately one-third of all millennials don’t feel financially secure, according to the 2024 Deloitte Gen Z and Millennial survey. Financial wellness programs like student loan repayment assistance and tuition reimbursement programs are high on their priority list as they seek financial stability.

Eco-Friendly Initiatives

Millennials are going green faster than you can say “reusable straw.” They want to work for companies that care about the environment as much as they do. Sustainability programs, green offices, and eco-friendly policies are big draws.

Continuous Learning and Growth

For millennials, learning didn’t stop at graduation. They’re hungry for opportunities to grow, learn new skills, and advance their careers. About one-third of millennials reported choosing their new job because of professional development opportunities, according to a 2024 Deloitte survey. Programs like mentor opportunities, clear career paths, and sponsored education are must-haves.

Social Impact

Millennials want to make a difference, and they want their employers to do the same. They’re looking for companies with strong corporate social responsibility programs and opportunities for volunteering.

Why Meeting Millennial Wellness Expectations Improves Talent Management

All businesses need to attract and retain millennial employees. Millennials are the largest generation in the workforce, with over 55 million workers, according to a 2024 TeamStage report.

If your company isn’t an attractive place for millennials, then now’s the time to make some changes to cater to this demographic. How can catering to millennial expectations improve your talent attraction and retention? Here are a few examples:

Attraction power-up: By aligning your company’s wellness initiatives with millennial priorities, you’re essentially putting up a giant “We Get You!” billboard in the job market. When word gets out that your company offers mental wellness support, flexible work arrangements, and growth opportunities, top talent will be lining up to submit their resume.
Retention magic: Once you’ve got the crème de la crème of millennials on your team, you’ll want to hang on to them as tightly as possible. Millennials have a higher turnover rate than Gen Xers, according to an article published in the Quality & Quantity journal. That means they’re much more likely to leave if they don’t feel like their employer understands and supports them.
Productivity boost: Happy employees are productive employees — that's a no-brainer. But millennials bring an extra oomph to the productivity party. Their tech savviness, adaptability, and fresh perspectives can spark innovation and efficiency. Plus, the diverse viewpoints they bring to the table can lead to better problem-solving. In fact, having a diverse workplace is good for productivity, according to an OECD report.
Cultural transformation: As millennials become a larger part of your workforce, their wellness priorities can positively impact your overall company culture. This ripple effect can benefit employees of all generations, creating a happier and more engaged workforce.

Critical Elements of a Millennial-Friendly Wellness Program

Ready to turn your wellness offerings into a millennial magnet? Let’s break down the essential ingredients for a wellness smoothie that’ll have millennials flocking to your company:

Holistic Wellness

Giving your millennial employees a one-dimensional approach to wellness won't cut it — you'll want to consider the physical, mental, and financial aspects of wellness. Here are some ideas to help you get started on an inclusive program:

Physical wellness

Gone are the days when a discounted gym membership was enough to impress. Millennials want a physical wellness program as diverse as their Instagram feeds. Some ideas are:

Employer-sponsored gym memberships, including traditional gyms and other fitness studios like yoga, HIIT, or dance cardio
Standing desks and ergonomic workstations, maybe even with a portable walking pad underneath a standing desk to help your employees get those steps in while they work
Healthy snack options, like fruit bowls and veggie platters
Outdoor activities and sports leagues, because bonding over hiking or soccer is the new team-building
Step challenges with cool tech integrations, like Fitbit competitions
Bike-to-work initiatives with secure bike storage on-site and shower facilities
Lunchtime walking groups or “walking meetings” for a dose of fresh air and movement
On-site massage therapy or physiotherapy services for those desk job kinks, construction site aches, or hospital floor sores

The key is to offer variety and make wellness accessible throughout the day. It’s about creating an environment where taking care of your body is as natural as checking your email.

Mental wellness

Mental wellness is one of the most important parts of employee benefits for millennials. You can consider a wellness program that includes some of the following:

Access to counseling services, both in-person and online
Subscriptions to mindfulness and meditation apps
Stress management workshops
Mental health days (separate from sick days)
Quiet spaces, relaxation rooms, and nap pods in the office
Workload management training for both employees and managers to prevent burnout
Art therapy or creative expression workshops to let them channel their inner Picasso to de-stress

Financial wellness

Student loans, rising living costs, and stagnant wages have millennials stressed about money. Beyond just offering a higher salary, you can provide the following financial perks to help them out:

Student loan repayment assistance programs to help reduce their financial burden
Financial planning workshops, including sessions on topics like investing, retirement planning, and first-time home purchases
Access to financial advisors, including one-on-one consultations
Budgeting tools and resources, like apps and financial software
Transparent pay structures, including clear salary bands
401(k) matching with immediate or short-term vesting to encourage retirement savings from day one
Emergency savings programs to help employees build a financial safety net
Tuition reimbursement for further education or professional development

Wide Variety of Programming

Millennials love options like they love their coffee — in abundance and highly customizable. Your wellness program should be a buffet, not a set menu. Some options are:

A mix of individual and group activities, including personal training sessions alongside team sports leagues
Both high-intensity and low-key options, like HIIT classes for adrenaline seekers and yoga for those looking for a more serene workout
In-person and virtual program elements so millennials can choose whether to attend in-person or from home
Challenges and initiatives that change regularly, like monthly fitness challenges, seasonal health initiatives, and quarterly wellness themes
Opportunities for employees to suggest and lead wellness activities, such as running clubs or leading workshops on their wellness passions
Diverse health screening and preventative care options, from basic health checks to genetic testing for personalized health insights
Nutrition programs, cooking classes, meal prep workshops, consultations with registered dietitians, and other programs for diet support

The key is flexibility and diversity. Let millennials choose their wellness adventure, catering to various interests, schedules, and personal health goals.

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Tech-Integrated

Millennials expect their wellness programs to be as tech-savvy as they are. After all, they were raised as makeshift software developers, tweaking their MySpace page’s HTML code to change the default song.

A user-friendly wellness platform or app and integrations with popular fitness trackers and apps, like Fitbit integrations with Apple Health, can help make wellness programs more tech-savvy.

Virtual classes and resources, such as live-stream yoga sessions or on-demand workout videos, also make wellness more accessible to employees. On top of that, gamification elements can help boost engagement and turn wellness into a fun competition with leaderboards, badges, and challenges.

Remember, for millennials, if it’s not trackable, shareable, and app-based, it might as well be written in hieroglyphics. That’s why tracking rewards should be easy so employees can see their progress and perks at a glance.

Flexible

For millennials, flexibility is a way of life, so wellness programs catering to them should be as adaptable as a chameleon in a crayon factory. These strategies can help make wellness programs more flexible:

Customizing wellness packages to let employees choose the benefits they value most
Providing flexible scheduling for wellness activities, like early-bird yoga or late-night HIIT classes
Offering remote-friendly options because wellness shouldn’t stop at the office door
Providing adjustable goals and metrics so employees can modify their wellness targets
Ensuring cross-program flexibility to allow employees to swap unused gym benefits for mental wellness sessions if needed
Making seasonal program adjustments, offering outdoor activities in the summer and indoor options in the winter

Foster Community

Millennials thrive on deep connections, so a wellness program should nurture a thriving community within a workplace. Team-based fitness challenges can help connect employees over diverse activities. After all, nothing bonds coworkers like collectively trying to out-step the accounting department.

Wellness buddy systems can also pair up employees to motivate and support each other’s health goals. These can include wellness events and workshops, like smoothie-making competitions or group meditation sessions, as well as wellness-focused social media groups to share tips and celebrate wins.

How to Foster a Culture of Wellbeing

Changing your company culture to suit millennial preferences won’t happen overnight. Creating a culture of well-being is like planting a garden — it needs constant nurturing and the right environment to thrive.

Here are seven steps you can take to start turning your workplace into a well-being wonderland:

Step 1. Lead by example: When leadership prioritizes well-being, it gives everyone else permission and motivation to do the same.

Step 2. Integrate well-being into your daily operations: Make it as routine as checking emails. Think walking meetings or mindfulness moments before presentations.

Step 3. Celebrate well-being wins: Did someone hit their step goal? Meditation streak? Shout it from the rooftops, or at least the company newsletter.

Step 4. Make well-being resources visible and accessible: Plaster those motivational posters, keep the fruit bowl full, and ensure everyone knows how to access mental wellness support.

Step 5. Encourage work-life wellness: Respect off-hours and promote true disconnection during vacations.

Step 6. Foster open communication about well-being: Create safe spaces for employees to discuss their health journeys and challenges.

Step 7. Listen to feedback: Continuously evolve your initiatives based on feedback. Your culture should be as dynamic as your employees’ needs.

Transforming Your Workplace for the Millennial Generation

Millennial employees value benefits, beliefs, and flexibility just as much as their salaries. So, to be competitive in a fierce job market, consider offering benefits that resonate with millennial ideals.

This is only one layer of how wellness programs can help you attract and retain top talent. With the right programs, you can support superstar employees from any generation and keep them happy and productive. That means that investing in these programs doesn’t just improve your employees’ lives, but it actually improves your bottom line.

Ready to see how investing in wellness programs can supercharge your company? Speak with a Wellhub Wellbeing Specialist today to see how we can help you find the right programs for your organization.

Company healthcare costs drop by up to 35% with Wellhub! (* Based on proprietary research comparing healthcare costs of active Wellhub users to non-users.) Talk to a Wellbeing Specialist to see how we can help reduce your healthcare spending!