What are the top benefits that millennials desire?
Better workplace benefits are one of the top benefits millennials desire. Surprisingly, millennial employees value relatively low-cost benefits besides healthcare. For employers, this signifies alluring and retaining talent can be easy as providing cost-friendly benefits that increase work-life harmony. To make things easier, we’ve created a list of the top benefits millennials desire.
Affordable Healthcare Insurance
As with most employees from previous generations, millennials prioritize health insurance. Many of them are uninsured due to medical insurance hefty costs. Therefore, employers that offer to pay a portion of health insurance for millennials will be favorable.
Moreover, some companies also provide supplemental health insurance choices such as critical illness, intensive care, and hospital indemnity insurance. Additionally, health care insurance options to provide include medical insurance, dental, and vision insurance. A Flexible Spending Account (FSA) or Health Savings Account (HAS) is also prevalent among employers.
Mental Health Benefits
Even though mental health benefits technically relate to health, it still has their own category. Unfortunately, mental health challenges are rising and are estimated to worsen in the future. On a positive note, employers provide easier access to mental health benefits. They can also support their workforce by including on-site access to mental health professionals, free telehealth sessions, or expanded employee assistant program benefits (EAP).
Financial Benefits
Debt is a significant problem for most millennials. As a result, one of the top benefits millennials desire is working at places that offer them various financial benefits. They are at a point where planning and stability for their retirement matter. Providing a 401(k) plan with an employer match attracts many millennials. Additionally, receiving a yearly discretionary contribution will enhance the deal even more.
If you are currently reviewing your existing employee benefits plan to better support and involve millennials, The MWE Partnership can help. We have years of experience working with companies to support their employee benefit needs for all generations. Our resources and tools will walk you through each step of the process. We also look forward to collaborating with you to build a long-term partnership so you have a reliable employee benefits resource team by your side.
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Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet all your employees’ needs. With over 17 years of experience, The MWE Partnership is your go-to provider for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! We encourage you to like our Facebook page and follow us on Twitter and LinkedIn for the latest voluntary benefit news!