With the newer generations rapidly filling in the cubicles and leadership roles, it is imperative that the corporates consider upgrading and redefining their wellness programs. Unlike the baby boomers, millennials aren’t keen on settling for outdated perks. They have expectations. They want security, recognition, appreciation, and rewards. And these are some of the few reasons why they are also known as the job-hopping generation.
The start of the new decade witnessed the Great Resignation or the Great Reshuffle in the USA, with many workers leaving their jobs to find better opportunities that offer flexibility and work-life balance. And going by the predictions, the Great Reshuffle might come to India this year (or already has) despite the pandemic, which is why redefining wellness programs and other perks should be the need of the hour.
According to a survey conducted on LinkedIn, 82% of Indians are likely to change their jobs in 2022. It further stated that 30% of the workers would want to switch due to poor work-life balance. The second annual Work Trend Index report by Microsoft also revealed that 70% of the millennials and generation Z in India are likely to switch jobs for better working conditions. And to prevent this Great Reshuffle, there are several necessary changes that an employee must implement, with a flexible wellness program being one of them. Besides the standard health and medical benefits, millennials want inclusivity, mental and health benefits, a healthier work environment, and more as part of their wellness programs.
You might also be interested to read: Measuring The Benefits Of Employee Wellbeing Programs
Here are 5 ways in which employers can create millennial-friendly wellness programs:
Listen to your employee’s needs: Recognize and understand your employee’s needs before you change and implement. Take feedback, organize quick surveys, and keep them anonymous for comprehensive and honest responses. It’s indispensable to stay relevant, and the ideal way to do that would be by knowing your employee’s needs better.
Recognize and reward: Monetary rewards and bonuses are great but what can truly boost an employee’s morale is recognition and appreciation for work. A team that practices recognition and rewards as a part of the wellness program has higher productivity than others. And to add some creativity to the rewarding approach, the leader can give away gift cards, comp offs, or surprise them with team dinner.
Customize their health benefits: Since ‘one size doesn’t fit all’, predefined wellness programs may not be convenient for everyone. Planning or customizing health benefits for large groups would be taxing too. Hence, the employer should create optional health benefits and opportunities and give employees the freedom to choose how they want to be healthy.
Practice what is to be preached: Higher-ups should take up a healthy lifestyle and style of working to promote the same amongst the employees. Practice healthy eating habits, organize charity runs or sports competitions, speak about efficient time management, condemn overtime and toxic culture to create a healthy work environment.
Support change and flexibility: A rigid environment where change and flexibility aren’t welcome will witness a lower employee retention rate. If there’s one thing that the pandemic has taught the business world is that being physically present in the office is not needed to get the work done. Also, time is precious, and so is work-life balance. Which is why employers must promote flexibility and be open to changes as a part of their wellness program.
Millennials are rapidly changing the corporate world, and it’s only right for the corporate to change with them. Millennial-friendly wellness programs will not only boost the brand image of the company but will also keep employees happy and settled in for a long time.
References:
- Explainer: What is the Great Reshuffle and how is it affecting the jobs market? |World Economic Forum | Charlotte Edmund | February 7, 2022
- Why younger employees aren’t impressed with wellness programs | benefits Pro | Christine Muldoon | March 23, 2021
- Over 70% of Gen-Z and millennials in India likely to change employers in the year ahead: Microsoft report | The Indian Express | March 20, 2022
- How to create company wellness programs for millennials in 5 simple steps | WellSteps | Dr. Steve Aldana | March 10, 2022
You might also be interested to read:
