Most millennials see their company’s health plan like an all-you-can-eat buffet – sure, there’s a bunch of stuff, but you’re only interested in a marginal portion of what’s on offer.
“There was just nothing there that was of any interest to me,” says 28-year-old Devon Wright about his health plan as an employee of one of Canada’s biggest banks in an interview with CTV News.
Recognizing that many other people around his age probably felt the same, he implemented a more millennial-friendly benefits package when he launched his own company in 2012.
This means coverage for things like naturopathic medicine and mental health counselling, as well as fitness subsidies that we can splash on anything from Surfset to Barreworks. Such changes reflect our generation’s preference for preventative medicine versus prescription drugs, emphasis on mental health, and desire to practice more creative ways to keep fit.
With millennials expected to comprise 50 per cent of the global workforce by 2020, other companies are following suit.
According to CTV News, larger companies like Sun Life Financial and Manulife Financial are also looking to implement corporate wellness programs partly to align with the lifestyle of millennial workers.
“Mental health is now recognized as being one of the key factors in absenteeism and lost productivity, as well as drug claims and long-term disability,” says Manulife Assistant VP of Products Lisa Callaghan, who also emphasized the mutual benefit of this shift.
“[It] not only impacts the individuals, but also impacts the team, the environment and the culture, and for those reasons it is becoming more culturally accepted to have those conversations.”
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Cover photo courtesy Surfset Fitness