With millennials on track to make up the majority of the Canadian workforce by 2020, it’s important for employers to learn how to create a benefits approach that can engage that generation and meet their needs, according to Peter Gove, innovation leader for health management at Green Shield Canada.
At the 2016 Healthy Outcomes conference in Toronto on June 10, Gove explained that with millennials having grown up in a culture that encourages them to believe they can be anything they want, they can sometimes have unrealistic expectations for their own success.
Despite a strong belief in their potential, Gove noted that many millennials experience depression, anxiety, loneliness and isolation. In an individualistic culture, he pointed to the decrease in social connectivity and support that can sometimes cause depression and anxiety.
Read: How to support Generation Z employees
So what does the rise of the millennial generation mean for benefits plans? Green Shield data has found millennials love paramedical services, something Gove suggested might be due to the highly educated group’s awareness of the benefits available to them. Gove said there’s an upside, however.
“I don’t like the fact that they’re spending this much money on this stuff which has very little to do with the health challenges they face. I do like the fact that they go and use benefits plans because that means we can be able to do something with those plans.”
Gove noted employers may need to take a more individualistic approach when communicating with millennials or designing benefits. He suggested they could introduce programs, such as group exercise, yoga and mindfulness, that can play to millennials’ desire for self-expression but at the same time can influence people’s behaviour in a positive way.
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