Importance of Wellness Program for Millennial Employees
Importance of Wellness Program for Millennial Employees
January 11 2023 TalktoAngel 0 comments 328 Views
In order to be successful, corporate wellness programs for millennials, it require a distinct strategy. We'll go over this topic's importance and how to do it in today's article.
Businesses who offered health benefits in addition to other incentives ten years ago were more likely to be able to retain and recruit qualified candidates. However, Millennials prioritize things differently than previous generations did.
Instead of following in the footsteps of their parents and grandparents, Millennials are taking charge of deciding how and where to leave their mark in a way that's unique to them and the environment they live in. Benefits like improved health only have so much influence since most people are preoccupied with a far bigger issue: their future, which is creating self-doubt and self-criticism.
While health insurance clearly tops the list of requirements for workplace wellness program, there are many other practices and benefits that businesses may incorporate into their operations to draw in a wide variety of talent. Keeping something running is one of the major challenges that all businesses face, not getting it to work in the first place.
However, in order for businesses to remain competitive in a workforce that is gradually changing, they must be aware of the shifting demands and culture of the workforce that they depend on to conduct their operations. They can begin by taking the time to comprehend how Millennials' needs may vary from those of more experienced professionals.
For business, a pandemic was terrible enough. But new data suggests that businesses might be dealing with a fresh problem. In the past 12 months, more than two out of every ten Millennials have moved to employment, and 22% of them indicate they do not plan to work for the same company for more than five years. And more than seven in ten Millennials said they would leave their current job for the appropriate opportunity if given the chance. The reason could be many, one of most probable causes is work place boreout. Consider this scenario: If nine out of ten of your millennial employees left the company, what would you do? To overcome such a situation, you need to take help of best professional EAP Providers in India and Asia Pacific, who with their flagship Online Counselling, webinars, workshops, assessments, self-care program shall help in increasing productivity.
A driving force behind millennial job flipping is the search for better workplace benefits. Surprisingly, research has revealed that the perks Millennials are most drawn to be reasonably inexpensive. One example is employee assistance program or corporate wellness program.
This is truer now than it has ever been. Many people have placed a high focus on their health throughout the COVID-19 outbreak. Fitness, wholesome food, and better hygiene are being prioritized by more people, who also love the chance to work from home.
Despite the 6.2% unemployment rate, businesses are still having trouble filling critical roles.
Giving people what they want might make recruiting the ideal team members simple. The right job benefits are a significant "want" in this situation.
At the moment, Millennials account for around 35% of the workforce. When they reach 75%, they will be the majority in just four more years.
Millennials as a whole think they are more health-conscious than previous generations. They favor foods with fewer artificial or processed ingredients and engage in more exercise.
Nearly three-fourths of millennial workers surveyed by HR Dive concurred that their employer should assist them in managing and reducing workplace stress. They are encouraged to make good decisions and take an active role in their wellness by benefits like vacations, gym memberships, and flexible work hours. Additionally, a staggering 85% of workers said they would be more likely to take part in corporate wellness programs or initiatives if their employer provided the necessary resources and support from Top Psychologist in India.
These numbers don't just apply to the workforce you now have. They can also be effective recruiting tools, demonstrating your commitment to the welfare of your staff members right away.
Better EAP or wellness program for employees and fitness-related benefits offer benefits to everyone, not just employees. Additionally, there are significant, observable advantages for the business in terms of increased productivity, talent competition, and employee retention.
For instance, sick days from employees cost businesses an average of $3,900 per employee annually and result in a total of 1.5 billion lost workdays. Employees feel forced to report to work when they are ill in organizations that provide little to no paid sick leave, which increases the number of missed days and the spread of infection.
However, a paucity of sick days alone is not the real problem. Going a little further, businesses may encourage better health by providing the correct wellness benefits through best EAP providers.
These advantages may have a cascading impact. For instance, productive levels are higher when employees are healthy and taking regular help or Online Counselling for their mental issues as they miss less days of work owing to mental or physical illness. A higher degree of employee motivation and happiness can result from increased employee engagement at work. Without the need to fill more roles, more may be accomplished in the same amount of time. Additionally, as the employer is responsible for the majority of the employees' health insurance premiums, greater employee health ultimately results in cost savings for the business.
Any expenditure associated with corporate wellness are simple to justify when you take into account the costs of lost productivity, low employee engagement, and low retention rates brought on by a lack of employee happiness.
Corporate wellness Program is a crucial component of recruitment and employee retention. It not only demonstrates to them that you are on their side but also supports a more profitable and productive company. Simply doing this can make your business a place where people truly desire to work.
If you are HR manager and you would like to improve productivity and wellness amongst your employees, you just have to contact No.1 EAP Provider, of India, for interactive session.
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