Article produced and published by enterprise forward on January 19, 2017
Millennials have a reputation. They’re known to be job hoppers, trying on different companies for size, then moving on quickly if the fit isn’t right.
This can be a losing battle for businesses that shoulder the costs of hiring and training replacements. Some companies are looking for ways to keep their younger staff members happier so they stay longer.
Some of the workplace benefits valued by millennials—who make up 32 percent of the U.S. workforce—are ongoing feedback and training, work-life balance, and growth potential. These are tied to the organization’s culture, which may need a refresh to keep employees of all ages happy.
One other benefit is easier to incorporate—in fact, the RAND Corporation reports that 69 percent of companies with more than 50 employees already offer it. It’s a wellness program.
Will It Work?
When asked about workplace health and wellness programs by Aon Hewitt, nearly 52 percent of millennials say they feel better about their employer when it offers one to employees—compared to about 40 percent in other age groups. Forty-three percent of millennials say their employer’s wellness program is one of the factors that keeps them in their job, and 50 percent say the programs make a potential employer more attractive.
A well-designed and implemented wellness program can be a huge factor in improving millennials’ workplace productivity and making them stick around.
Tech Makes Wellness More Appealing
Employees who participate in a wellness program are much more likely to see these benefits. HealthFitness found that 70 percent of employees who participate in the program believe their employer cares more about them. So designing a program with your millennial employees in mind will lead to the greatest success with this age group.
Here are the keys to creating a wellness program millennials will love:
- Make it mobile. Nearly 85 percent of millennials own a mobile phone, so they expect to be able to access information and update their wellness stats on the go.
- Keep it social. Millennials are familiar with social media, and they tend to develop long-term friendships with their coworkers. So a social media-type app will engage them and help them share successes with their work friends.
- Integrate it into the culture. Millennials want to see a holistic approach to health and wellness, not just an app that doesn’t connect to anything else they’re doing.
- Don’t just focus on exercise and nutrition. This is another area where a holistic approach offers benefits. Winston Ball, chief operating officer of wellness plan company hubbub health, tells Enterprise Forward his company’s tool focuses on five key wellness elements: exercise, nutrition, sleep, stress, and financial health. Financial stresses affect health, so this element helps employees better their health in all areas that matter.
The Ultimate Cost
Wellness programs are typically a small percentage of overall healthcare spend—Ball says hubbub charges mere dollars per employee per month. So it makes sense to focus on offering a great wellness program and increasing participation to improve overall employee happiness and workplace productivity. A small investment in wellness, Ball says, can create savings in retention and attendance over the long term.
Read the original article posted on enterprise forward.