The Future of Work and Financial Wellness for Millennial Employees
Nov 30, 2018gig,millennial,financial wellnessSA-Articles
Millennials are set to change the future workplace as the largest generation in the U.S. labor pool.
Employers with a more appealing work environment may better attract and retain Millennials.
The future will most likely call for a new way to approach workplace benefits for this generation.
Millennials are now the largest generation in the U.S. labor force, and they are both reimagining work and experiencing anxiety about the future. Since attracting and retaining top talent is critical for employers, it’s imperative that they create an appealing work environment to attract and retain this increasingly important pool of talent.
To that end, Prudential commissioned Kantar Futures to conduct research aimed at getting a deeper understanding of Millennials’ views about work and career, health and wellness, personal finance, and technology over the next 40 years.
Among the findings:
72% are nervous that employers will stop providing healthcare and retirement benefits.
84% are nervous about the continually rising cost of education.
75% feel people will struggle with new digital tools and technologies in the workplace.
To help attract and retain Millennial employees, employers should consider:
Structuring benefits offerings to help employees customize coverage to suit their needs.
Expanding workplace offerings to include education planning, payroll deduction savings vehicles, or a student loan repayment benefit.
Providing technical training, tuition assistance, or learning opportunities to hone new skills.
Prudential offers unique perspectives, based on insights gleaned from experiences as both a retirement and group insurance provider, on ways employers and their consultants or advisors can optimize their complete portfolio of benefit offerings.
LINK by Prudential is an umbrella marketing name for Prudential Customer Solutions LLC (“PCS”), Prudential Annuities Distributors, Inc. and various subsidiaries of The Prudential Insurance Company of America. Investment advisory products and services of LINK by Prudential are made available through PCS, an SEC registered investment adviser. PCS is not a licensed insurance agency or broker. Prudential LINK and LINK by Prudential occasionally may be referred to as LINK.
Insurance and/or annuities are issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (except in NY and/or NJ), Pruco Life Insurance Company of New Jersey (in NY and/or NJ), and Prudential Annuities Life Assurance Corporation (PALAC). Each is a Prudential Financial company located in Newark, NJ (main office), except for PALAC which is located in Shelton, CT (main office), and each is solely responsible for its own financial condition and contractual obligations.
Variable annuities are distributed by Prudential Annuities Distributors, Inc., Shelton, CT.
Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company, Hartford, CT, or its affiliates .
This web page is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional. Prudential Financial, its affiliates, and their financial professionals do not render tax or legal advice. Please consult with your tax and legal advisors regarding your personal circumstances.
This website is for U.S. persons only Opens in new window and may not be approved in all states. Information contained on this site does not and is not intended to constitute an advertisement, solicitation or offer for sale in any jurisdiction, outside the United States of America, where such use would be prohibited or otherwise regulated.
"Prudential Advisors" is a brand name of The Prudential Insurance Company of America and its subsidiaries.
Prudential, the Prudential logo, the Rock Symbol and Bring Your Challenges are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc, which is headquartered in the United Kingdom.
Pruco Life Insurance Company, an Arizona company - California COA # 3637. The Prudential Insurance Company of America - California COA # 1179. Prudential Retirement Insurance and Annuity Company - California COA # 08003. The Prudential Life Insurance Company of America Newark, NJ.
Securities and Insurance Products:
Not Insured by FDIC or any Federal Government Agency | May Lose Value | Not a Deposit of or Guaranteed by the Bank or any Bank Affiliate.