Employee benefits are no longer just about a decent health plan and a 401(k). The game has changed, especially with millennials now making up a huge chunk of the workforce. Their expectations are different, shaped by unique financial, social, and technological landscapes. For employers, understanding what this generation truly values is the key to attracting and retaining top talent.
Our 2025 Benefits Insights Report highlights a major shift: while healthcare costs are soaring, employees are looking for benefits that offer real value and support their overall well-being.
So, what’s on millennials’ Benefits Wish List? It’s not about flashy office perks. It’s about delight, performance, and holistic wellbeing. Here’s what our latest benefits preferences survey says.
This generation has been at the forefront of destigmatizing mental health conversations, and they expect their employers to provide robust benefits to support their mental wellbeing.
According to the 2025 State of Workplace Empathy Report, 92% of employees said that mental health benefits like mental health days or online mental health providers demonstrated that a company was empathetic. This shows that employees want these resources.
Millennials came of age during a period of economic uncertainty, and many are grappling with significant financial burdens, like student loan debt and the rising cost of living. It’s no surprise that they are looking for employers who can provide tools and resources to help them navigate their financial futures.
48% of all generations would feel panicked by a $6,000 emergency room bill, a sentiment that is especially strong among younger employees. Furthermore, 20% of millennials say they would go into debt to pay for an unexpected medical expense. This financial anxiety has a direct impact on their productivity and overall well-being.
By providing these resources, you help alleviate a major source of stress for your employees and demonstrate a long-term investment in their success, both inside and outside of the office.
The one-size-fits-all approach to benefits is officially outdated. More than any one benefit, Millennials want benefits that can be tailored to their individual needs and life stages. Whether they’re single, starting a family, or caring for aging parents, their priorities will differ. A rigid benefits package that doesn’t acknowledge this diversity will fail to impress.
Technology and AI are making personalization easier than ever. The Benefits Insights Report notes that when decision support is offered during enrollment, 69% of employees use it. This technology helps guide them to the plans that best fit their personal and financial situations.
The data speaks for itself. Employees are 119% more likely to enroll in a High-Deductible Health Plan (HDHP) when they have decision support tools available. They’re even 129% more likely to elect an HDHP plus an health savings account (HAS) with that guidance. This tells us that when employees understand their options, they feel more confident making cost-effective choices that break from the norm and help them personalize their benefits to their situation.
Millennials aren’t just looking for benefits, they’re looking for connection, clarity, and care. Offering mental health support, financial wellness tools, and personalized packages is a powerful start. But to truly drive engagement, employers must go beyond offering the right benefits; they must communicate them effectively.
Even the most generous benefits package is useless if employees don’t know it exists or don’t understand how it applies to them. Millennials, in particular, value transparency, personalization, and digital-first experiences. That means your communication strategy should be:
When you communicate with empathy and precision, you build trust. You empower your millennial workforce to make informed decisions, feel supported, and stay engaged. And that’s how benefits become more than perks—they become a meaningful part of your employee experience.
