The Kids Are Not Alright: Retaining Millennial and Gen Z Talent with Corporate Wellness Programs

Gaurav Goomer, Founder & CEO,  MyLifeWellGaurav Goomer, Founder & CEO, MyLifeWell
The pandemic packed a 1-2 punch for business. After over two years of constant uncertainty, loss, and disruptions, businesses are now facing the challenge of how to keep their employees happy and engaged - particularly Millennials and Gen Z talent.

What They’re Looking For

Both Millennials and Gen Z’s are looking for new ways to work. More than two out of ten Millennials have changed jobs in the last year; seven out of ten said they’d leave their current position for the right opportunity.

These generations are more empowered to ask for things, and expect more support for work-life balance, remote work, and better work benefits.

One of the benefits Millennials and Gen Z’s are most interested in: corporate health and wellness programs.

The Redefinition of Health and Wellness

How Millenials and Gen Z’s define “health and wellness” differs greatly from the generations before them.

Today, chronic stress, burnout, depression, anxiety are at all-time highs and drive the health and wellness conversation:

● 91% of Gen Z report physical or psychological problems due to stress
● The 2022 APA “Stress in America” poll suggests the nation is in “survival mode.”
● 87% of US adults feel overwhelmed by the constant crises over the past two years.

Thus, it’s no surprise that the younger cohorts of today’s workforce are looking for more holistic health and wellness programs to optimize their health.
And, while Millennials really brought holistic health into the mainstream, Gen Z are the ones who integrate health and wellness into their day-to-day life through the latest tech and digital experiences. They’re picky though: since both generations grew up as digital natives, they are very selective about the technology they welcome into their everyday lives.

“Their list of “must haves” is more discerning. They need more than just a fitness class here or a daily meditation there when it comes to employee wellness programs. Millenials and Gen Z’s are looking for holistic solutions that organically fit into their lives, “ says Gaurav Goomer, CEO/Founder, MyLifeWell.

Implications for Businesses

It’s no surprise that the younger cohorts of today’s workforce are looking for more holistic health and wellness programs to optimize their health.

How can a business confidently select a solution that Millennials and Gen Z’s will actually use? By vetting the following value drivers:

● Holistic Content: is there a wide-range of content across key dimensions of wellness (Physical, Mental, Nutritional, Emotional, Social, Financial)?
● Delivery: is it easy to access and available at any time?
● Customization: does it give me the ability to customize for my specific wellness goals?
● Change: does it empower me to create better daily habits and take better care of my day-to-day wellbeing?
● Progress: can I easily measure and track my progress with my phone/wearables?
● Motivation and Rewards: do they offer challenges that motivate me? Or rewards that I actually want?
● Accountability: does it offer resources like in-person coaching or accountability partners to help me along the way?

Bringing it all together

MyLifeWell, HR Tech Outlook’s Top Emerging Employee Wellness Company 2002, helps businesses stay competitive, especially when it comes to attracting and retaining the younger generations of talent. They offer a comprehensive all-in-one wellness platform that combines all wellness needs to help employees of all ages lead a healthy lifestyle.
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