The Squeezed Middle: Millennials fare badly while supporting a depleted workforce | National company

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NEW YORK – (BUSINESS WIRE) – Sep 17, 2021–

As American employers reinvent the workplace due to the significant impacts caused by the Covid-19 pandemic, managers – and especially millennial managers – have taken up the challenge of supporting employee well-being even when it diminishes theirs.

Gen Y managers, aged 26 to 40, are much more likely to say they are burnt out (42%) than managers of any other generation (34% Gen Z, 27% of Gen X and 21% of Baby Boomers) and individual contributors (30%).

One factor could be the degree to which millennials managers strive to support the well-being of their employees. According to the MetLife study, 52% of employees with supportive Millennial managers say they are healthy in all four pillars of physical, financial, social and mental health, compared to just 18% of those who say their managers do not support them.

“The pandemic has changed the way we work – from the way we do our work to the way we interact with each other – and managers have been tasked with managing this for their employees,” said Missy Plohr-Memming , Senior Vice-President, Benefits. , MetLife. “As the largest generation of today’s workforce, Millennials – and especially those in leadership roles – have a significant impact on their organization’s ability to succeed in the new normal. “

Generation Y managers promote high employee performance but sacrifice their own well-being

Support from managers is certainly important for an organization: the study finds a significant difference between those with and without support managers. For example, employees with supportive managers of any generation are notably more likely to feel productive (+ 46%), efficient (+ 82%), engaged (+ 81%) and motivated (+ 110%) than those who lack managerial support. . This is especially crucial for employees with millennial managers who report higher increases compared to those with managers of other generations in terms of productivity (+ 58%), success (+ 129%), engagement. (+ 120%) and motivation (+ 140%). when they have a favorable manager versus an unfavorable manager.

As organizations reap the benefits of strong support from managers in general and support from Millennials in particular through increased employee productivity and engagement, Millennial managers themselves are feeling the pressure. In fact, millennials managers now feel more overwhelmed, exhausted and stressed when working compared to December 2020.

Training and benefits are essential to the well-being of Millennials today and into the future

As the younger generations continue to hold leadership positions in the workforce, employers should consider offering training and tools to these leaders, including the millennial managers who are already taking on the most responsibility. great responsibility for ensuring the well-being of their teams – while managing their own – now and in the future.

In fact, millennials and executives are more likely than other generations to want training and support in a number of key areas affecting the workforce today, including people management ( 82%); managing personal stress (78 percent); lead conversations on sensitive topics such as diversity and inclusion (D&I) and social justice (74%); and management of remote / on-site hybrid teams (74%).

Additionally, the MetLife study shows that millennials managers who say their employer offers a range of benefits that meet their personal and family needs are much more likely to report being in good overall health (54% vs. 30%) and resilient (70% vs. 46%).

When it comes to the specific benefits they’re interested in, millennials are now much more likely to describe financial planning tools (+ 40%), pet insurance (+ 58%), and legal services ( + 50%) as “must-haves” compared to the pre-pandemic.

“The effects of the pandemic have caused many employers to adjust their workplace policies and employee benefit programs in real time, and this will only continue. As we reimagine the workforce of the future, employers must consider the varied needs of their managers and the tools they may need for long-term success, ”said Plohr-Memming. “Millennials, who will constitute the majority of our future management, are eager for these skills and the benefits for themselves and their teams. “

Research methodology

MetLife’s 19th Annual US Employee Benefit Trends Study was conducted in June 2021 and July 2021. The study was conducted by Rainmakers CSI, an international consulting firm in strategy, analysis and planning. The survey consists of 2,652 interviews with full-time employees, aged 21 and over, in companies with at least two employees.

About Rainmakers CSI

Rainmakers CSI is a UK-based strategy, analysis and global planning consultancy focused on game-changing business impact. Since our inception in 2007, we’ve worked with leading companies to help define opportunities for brands, categories and businesses. Our expertise covers not only financial services, but also food and beverage, beauty, health, telecommunications, technology, entertainment and travel. Our programs and client relationships span every continent, with 50 percent of our work originating from the United States. For more information, visit www.rainmakerscsi.com.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional clients navigate a changing world. Founded in 1868, MetLife operates in more than 40 markets and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210917005461/en/

CONTACT: Media:

Nathalie Geisler

646-954-0812

natalie.geisler@metlife.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE SMALL BUSINESS HUMAN RESOURCES FINANCE BANKING

SOURCE: MetLife, Inc.

Copyright Business Wire 2021.

PUB: 09/17/2021 13:20 / DISC: 09/17 // 2021 13:21

http://www.businesswire.com/news/home/20210917005461/en


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