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Sixty-three percent of employees say that their financial stress has increased since the start of the pandemic, rising to 72% for millennials who represent 35% of the American workforce. With pay satisfaction across all generations at only 60%, the Great Resignation is real. The pandemic coupled with the remote work shift has changed the way many Americans view their work/life balance, their priorities and their new job requirements. The turnover rate for the millennial generation alone costs US businesses $30.5 billion per year, and that’s only 35% percent of the workforce.

Employees are looking for a complete benefits package that gives them more than competitive pay and the standard traditional benefits – these are just table stakes. Organizations need to be creative, innovative, and progressive if they intend to attract and retain top talent. They need to identify which employee needs are not being met and seek to provide a remedy.

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