What is wellbeing?
Gallup Poll research in November 2019, shows, through an article by Ryan Wolf, there are five interconnected elements of wellbeing — career, social, financial, physical and community wellbeing — that affect everything from our job performance to our health status.
In the next several weeks, I’ll breakdown the theme of ‘wellbeing’ for each generation and strategies on how to assist each generation in the 5 areas: career, social, financial, physical and community.
But just one out of 14 people is thriving in all five elements.
Wellbeing as a workplace issue can create a healthier and more productive workforce.
Leaders need to understand that while wellbeing is always individual and personal, different generations bring differing wellbeing needs to work with them.
Part 1 – Millennials and Generation X
Millennials: Born Between 1980 and 1996
”Millennials are more likely than other generations to be thriving in their physical wellbeing. However, millennials have a higher debt-to-income ratio and lower net worth than the previous generations. They may be struggling, or worse, with their financial wellbeing.
Your biggest opportunity to impact this generation’s wellbeing may be to help them deal with the stress of their finances”, says Gallup Poll research.
Big Idea / Hint from Alysia: Here is what Gallup Poll is doing for their own organization;
At Gallup, they created an eight-week course geared toward millennials’ financial concerns.
Feedback told Gallup that the millennials were thrilled to learn from experts and relieved to know many of their peers were in similar financial situations.
Millennials appreciate experiences more than things, which is actually a hallmark of wellbeing, according to Gallup research.
The emphasis on experiences over stuff may help explain the premium millennials put on recognition and their well-chronicled “fear of missing out.” They grew up on social media where every experience can be displayed, so a sharp line between “work” and “life” can hinder their social, community and career wellbeing. So, don’t draw that line.
Big Idea / Hint from Alysia:
Let millennials tell their stories and post their pictures. Ask about their adventures in meetings or one-on-one conversations.
Let millennials be millennials or they’ll find a company that does.
Generation X: Born Between 1965 and 1979
Generation X is more deeply in debt than millennials, but they have a different kind of stress about it. Gen Xers have higher earnings but many are taking on the same college debt millennials have, though on behalf of their children, while caring for aging parents as well.
Gallup Poll says, ‘It’s a perfect storm of financial, emotional, and time-pressure stress. Their financial education and encouragement should acknowledge that this situation is not unusual — nor unmanageable — through appropriately designed tools, resources and support groups.
Gen Xers are now old enough to contribute to or lead community activities — and Gen Xers may feel they have little choice but to step up. Gen Xers spend far more time with their children than their parents did, have bigger families than millennials do, and it’s a small generation ( just 46 million)
Another Idea: Support your employees’ volunteer efforts:
Gallup has a program called Community Builders.
Match employee contributions given to select local nonprofits because it amplifies our employees’ efforts and gives to the greater community and social wellbeing.
Another Idea: Physical Wellbeing for the Individual
Gallup encourages employees to complete a check-in with a doctor of their choosing. It helps employees create more meaningful and holistic relationships with their doctors and allows for broader conversations than workers could have during routine health screenings.
Next time: Part 2 – Boomers … Plus Overall Productivity Related to ‘Wellbeing’