Abstract. As millennial employees carry more responsibility in society and companies, much attention has been paid to their well-being. They pursue the balance between work and life, enjoy and challenge. As to executives in companies, the most important task is to recruit employees who have high productivity and retention, and are willing to grow with the organizations at the same time, in order to keep the stable growing pace of the companies. This paper discusses the dialectical relationship between millennial employee retention and well-being, both of which complement each other.