Attract millennial employees with these most-wanted benefits
No matter what you may think of millennials, even if you yourself are one, they are the future of our workforce. They live in a changing work environment that’s completely different from what their parents grew up in.
To that end, employers need to make themselves fully aware of the benefits millennial job seekers desire and expect from modern employers. Here’s a rundown of how to both catch and keep the eye of younger employees with the right benefits.
Student Loan Assistance
While student loan debt isn’t the only type of debt young people contend with, it makes up a sizeable chunk of their debt. Millennials spend several years and borrow several thousands of dollars to get the education necessary to kick off their careers. Working for an employer willing to help them pay off their student loan debt and move on to the next chapter in their lives allows them to focus their attention and income on other debts. Employees who aren’t anxious about how they’re going to pay off debt are more likely to be focused on how they’re going to complete work assignments.
Opportunities To Advance
Rather than a direct employee benefit, letting job candidates know there are opportunities to advance and move up in the company could give them something to look forward to. Younger workers are going through a period of change in their lives, and they don’t likely expect to have the same position for the rest of their lives. Rather than make them feel as if they have to change companies to change positions, employers should implement mentorship programs. Mentors can provide them with even more education and insight that may have been missing in the classroom.
Flexible Working Hours
Sometimes, knowing how to how to attract and retain talented employees is as easy as letting them work outside the standard 9-5 workday. Millennials like the freedom of working when they’re at their most productive, which could be in the middle of the afternoon or late at night when everyone else is asleep. Forcing employees to work a specific schedule can seriously hamper their productivity and whittle away at their job satisfaction. Additionally, slogging through morning traffic isn’t the best way to start the workday.
Health Insurance
No matter how well younger workers may want to take care of their physical health, they could have limited financial resources to do so. Employers who offer health, vision and dental benefits make it easier for workers to go to the doctor when they need to. When employees are in good health, they’re usually more productive at work. They also don’t have to stress over odd physical symptoms or fret about the expense of visiting the doctor without insurance.
Retirement Funding
In addition to worrying about the debt they’ve already taken on, millennials are also worried about financing their future retirement. While companies can offer a retirement plan, it’s more alluring to offer a matching contribution plan. Again, this benefit is all about relieving financial and mental stress and anxiety, which a lot of younger people are dealing with.
Even the most desirable of positions can give a candidate pause if the job doesn’t come with the right benefits. Knowing what millennial workers want and how to deliver it is essential information companies in every industry need to know.
