In a few months, employers across the country will welcome millions of new graduates into the workplace. These new employees, as well as others who've joined within the past few years, are dealing with a lot – acclimating to professional life, often in a remote or hybrid environment; facing a potential recession that could define the first few years of their careers; not to mention, transitioning into adulthood, perhaps living away from home for the first time, and figuring out how to manage a budget, set up a 401K and navigate health care costs.

Millennials – who entered the workplace during one of the worst economic recessions in U.S. history and are now in their late 20s to early 40s – also have a lot on their plates. Many are starting families – a wonderful, but often costly, milestone. And while homeownership has long been out of reach for many Millennials, that may be changing, with two-thirds saying they plan to buy a home within the next three years.

One of the biggest lessons that came out of the past few years is that leaders need to be empathetic for what their employees, across all generational lines, are going through in their professional and personal lives. As they finalize their benefits programs for next year, leaders should be empathetic to how little financial education their Gen Z and Millennial employees have likely received, and how ill-equipped many are to navigate these periods of transition, especially in a challenging economic environment.