The idea that success requires toxic stress levels and a diet of caffeine is being fundamentally, challenged. Millennials have made their demands clear – they value wellbeing over finances. GoldmanSachs in their 2017 research note that for Millennials, wellbeing is a daily, active pursuit. They’re exercising more, eating smarter and smoking less than previous generations. They’re using apps to track training data, and online information to find the healthiest foods. They are more socially conscious then ever before. According to research conducted by Jamie Gutfreund, chief strategy officer for the Intelligence Group millennial work demands reflect the wellbeing mindset:
Millennials are, in essence, “venture consumers,” Gutfreund says. They’re not looking to fill a slot in a faceless company, any more than a good venture capitalist is looking to toss money at a faceless startup. They’re looking strategically at opportunities to invest in a place where they can make a difference, If you can provide a purpose, a career path and the ability for younger generations to blend work, with present life – then you will be in hot demand.
The hard facts are that Millennials and their wellbeing demands will be 75% of the workforce in 2025. Generation Z are expected to be even more concerned about wellbeing than their predecessors. Its seriously time to reflect on whether Millennial demands are being met in your workplace. Remember, they are the job-hopping generation (60% say they are open to a different job opportunity) so if you aren’t meeting their requirements, your competitor will.
Wellbeing isn’t just a younger generation fad. It has been proven, time and time again, to directly impact business bottom lines. I write about this comprehensively here.
Finally, focusing on employee wellbeing, isn’t a bad thing. We’ve created “cities that never sleep”. Due to tech advancements we can work from anywhere, 24/7. Since the global crash, many of us tried to be robots. As a consequence we have severely impaired our health. I’ll leave you with a few stats from the UK:
Find out what your annual business cost of ill-health is here.
Leila is PCA’s Head Editor and Researcher. She holds a 1st class Law with Business degree and became a published author at 25. Former crime investigator turned business journalist. On a mission to show businesses that presenteeism is a thing of the past. Everything seems impossible until it’s done. Typically found working from a white beach in South-East Asia embracing rapidly changing technology.