In today’s hiring landscape, employers are moving beyondtraditional health and retirement benefits to embrace uniqueincentives that attract top talent. In particular, employers arehyper-focused on unique benefits that attract the millennial generation, which has surpassedGeneration X as the largest age group in the workforce. While mostemployers and HR professionals have likely read countless articlesabout empowering millennial employees in the workplace, it cannotbe denied that this generation faces a much different work/life landscape than those that came beforethem.

Since traditional benefits no longer serve most of the workforceas they once did, continued conversation is necessary to identifynew employer strategies, including the implementation of unusualbenefits that address millennials’ specific needs and challenges.These include the flexibility to allow employees to work where and when they want, personalized wellnessprograms that incorporate gamification and recognition for goalsmet, mental health resources for employees and their families,sabbaticals that encourage personal growth and exploration, and more. Suchexamples not only meet the unique needs of millennial employees,but they also help organizations foster an authentic and empatheticworkplace culture.

Rethinking traditional benefits to address employeestress

One of the main goals employers have for their workplacebenefits is to reduce employee stress. Personal stressors can leadto decreased workforce productivity, absenteeism, andturnover—which ultimately take a negative toll on overall officeculture. Reducing stress is particularly critical for millennialemployees, as this generation reports higher stress levels than any other age group. Millennials arealso more likely than other generations to say their stress has avery strong impact on their physical and mental health.

Naively, the benefits world has always held firm to the beliefthat stress derives from the effect of a problem, rather than thecause of a problem. For example, instead of trying to providehealth and wellness tools to an unhealthy person, a better strategyis to ask why the person faces health challenges to beginwith. Slowly, employers are coming to realize that the only way tosolve the effect of stress is by implementing unique benefits thataddress the underlying cause. Only when employers understand wheretheir employees’ stress is coming from, will they be able to createprograms to help their teams avoid those stressors in the firstplace.

Considering the main cause of millennial stress: theirfinances

Arguably the biggest cause of stress for young adults is money.A 2017 Workplace Benefits Report states that 67 percent ofemployees in this age group say financial stress impacts theirability to focus and be productive at work, and 68 percent saidthat financial stress takes a negative toll on their physicalhealth as well. Many are burdened by student loan debt but hold anentry level job for mediocre pay. Older millennials are balancingtheir long-term educational debt with the cost of raising a youngfamily, saving for a wedding, or buying their first home.

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