Category
Business
Keepsake Countdowns
Trend cluster
Category
Millennial
Retention
Brands aim appeal to the Millennial employee pool with specific benefits.
3.4
Trend score
What's Happening
What is the Millennial Retention trend?
Millennial Retention: As Millennials grow older and more confident in their skills and work experience, they're becoming more valuable to brands. In order to better retain employees in this demographic, brands are offering benefits that are specific to their needs--including debt repayment and family planning.
Insight
The consumer insight behind the Millennial Retention trend
Amidst the "Great Resignation," Millennials have been shown to be the most likely to quit their jobs. Dealing with economic disillusionment, burnout and uncertain futures, this generation has now spent enough time in the workforce to know whether or not employers are holding up their end of the bargain. The push for Millennial retention in the workforce is a response to their shift in attitudes about corporate work, as well as their increasingly valuable experience and skillsets.
Trend themes
Themes within the Millennial Retention trend
Three behaviours holding the trend together01
Millennial Retention
Employers are offering benefits that are specific to Millennials' needs to better retain employees in this demographic amid the 'Great Resignation.'
02
Financial Wellness Platforms
Companies are partnering with financial wellness platforms to offer valuable resources and tools to their workers, contributing to a happier and more productive workplace.
03
Family-Building Employee Benefits
Employers are implementing additional benefits for employees, allowing them access to new family-building opportunities including fertility treatment, surrogacy, and gender-affirming surgeries, to support workforce diversity and employee satisfaction.
Industry implications
What the Millennial Retention trend means for industry
Where the trend changes the playbookFor
Corporate Insurance
Wellness offerings go beyond traditional health insurance benefits, creating space for accessible corporate fitness benefits and mental health benefit providers.
For
Banking
Banks are expanding their mental health benefits and services to support employees in the face of the growing dialogue around mental health.
For
Food Delivery and Restaurant Industry
Food delivery platforms, like DoorDash, have launched healthcare benefits to support restaurants and their staff, while also improving hiring and retention rates.
Workshop question
How could your brand better prioritize employee retention?
Trend signals
Trend signals for Millennial Retention
Trend score 3.4 out of 10, from popularity 55%, activity 35%, freshness 14%.
Popularity55%
Activity35%
Freshness14%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Millennial Retention trend
8 featured examples from Jul 14, 2020 to Jan 18, 2023CategorySocial Good
Family-Building Employee Benefits
HSBC Adds New Family-Building Opportunities for Employees
HR departments will need to incorporate family-building benefits into their company packages to retain and attract top talents.
CategoryLifestyle
Fitness-Themed Employee Benefits
Peerfit Employee Insurance Aims to Redefine Wellness at Work
Incorporating fitness benefits into corporate insurance packages presents an opportunity for insurance providers to differentiate themselves and attract businesses seeking compreh…
CategoryLifestyle
Work Away Benefits
Media Profile Offers its Employees $3k for Workcations
PR and communications agencies are offering unique benefits such as work away benefits to attract and retain talent.
CategorySocial Good
Student Loan-Paying Work Perks
Google Will Help Employees Pay Off Their Student Loans
Tech companies can lead the way by offering student loan repayment benefits to attract and retain skilled professionals in a competitive job market.
CategoryLifestyle
Food Delivery Employee Benefits
DoorDash Rolls Out New Employee Perks Plan, 'Merchant Benefits'
Food delivery companies have an opportunity to improve the job market in the restaurant industry by offering more than just delivery services, but employee benefits as well.
CategoryMarketing
Employee Financial Wellness Platforms
Origin Helps Companies Relieve Employee Stress
Origin's emphasis on accessible financial planning presents opportunities for disruptive innovation within the financial services industry.
CategoryBusiness
Shared Parental Leave Incentives
Benevity's DEI Program Offers Multiple Parental Leave Incentives
Human resources industry is adapting to new parental leave policies to meet the needs of modern employees.
CategoryLifestyle
Bank Mental Health Benefits
Scotiabank Expands Mental Health Benefit to $10,000 Per Year
The finance industry can leverage increasing mental health benefits as a value proposition to attract and retain employees, while promoting mental wellness among existing staff.
