Millennials are the fastest growing segment of the workforce1. No doubt you’ve given a little—or a lot—of thought to what millennials want in a workplace. Competitive salaries aren't enough to attract top talent. A comprehensive benefits package is crucial in hiring and retention effort, but deciding what those benefits should include can be challenging.
Here’s a hint from millennials themselves: It’s all about their pets.
The Generation of Pet Parents
57% of millennials own a cat or a dog, making them the largest demographic of pet owners. Another 20% intend to get a cat or dog in the near future 2. Instead of starting traditional families, they're bringing home dogs, cats, rabbits, etc and postponing having children 3. Pet health, wellbeing, and lifestyle rank high on their list of financial priorities. 73% of pet parents (and yes, that’s what they’re calling themselves) say they’d take on medical debt for their pets 4.
So how can you optimize your benefits package for the new generation of pet parents?
Boost Recruitment and Retention with Pet Benefits
The answer is simple: pet benefits. One in three Fortune 500 companies offer pet insurance as a benefit. The number of total companies offering pet insurance continues to grow each year5. Even bigger than pet insurance are wellness plans. Wellness plans offer preventative care, such as annual checkups and flea preventatives things that insurance neglects to cover.
At Treat, we've developed Treat Wellness, a comprehensive corporate wellness plan created with busy pet owners in mind. Treat Wellness includes a year's worth of preventative health care in one simple membership.
Treat's world-class veterinary team provides all care via house calls and telemedicine. Pet parents can talk with their vet team and manage their pet's health in the Treat iOS app. With 69% of millennials already using tech to track their pet, Treat’s app is the perfect tool to help optimize pet health 6.
Better Benefits, Happier Employees
With Treat Wellness, your employees benefit from healthier and happier pets. Preventative care also reduces future expensive vet bills. House calls equal less stress for pets and flexible scheduling for their people. 24/7 telemedicine allows Treat to help employees and their pets anytime, anywhere.
Give your company an edge in recruiting efforts. Add a pet wellness plan to your benefits package, and show potential recruits you care. They'll see an empathetic, caring, and forward-thinking place to work, and a better life with their four-legged friend.
Pet Food Industry, “Baby Boomers, step aside: Millennials now own more pets“ ↩
Want to learn more about pet benefits?
We've pulled together this excellent resource for you and your HR team to learn about Treat Wellness and bring it to your team.