Find out how your business can offer benefits that attract millennials.
With many baby boomers at retirement age, it is important for businesses to appeal to younger workers. However, the same benefits package that worked for older employees may not be as appealing to millennials. Read on and consider offering these benefits that attract millennials.
Employee Benefit Options
Millennials want a say in their insurance options, and it’s natural that they should look for employers that offer customizable insurance packages that fit their needs. Many millennials do not have the same concerns or responsibilities as older employees. As a result, your old benefits package might not draw millennial interest. Businesses should consider offering a cafeteria plan where employers allocate a certain amount of money that goes towards the benefits the employee wants.
Ability to Work Remotely
Millennials don’t want to be swamped down by a daily commute or shackled to a desk. Instead, they want the ease of working from home, a local coffee shop, or wherever they please. For the younger generations, it’s all about combining life and work. The ability to work remotely offers this possibility.
Along with wanting to work remotely, many millennials favor a more flexible work day. Generally, younger workers appreciate flexibility and don’t want to be confined to the usual 9:00 am-5:00 pm schedule. Allowing employees to work at their own pace ensures that they aren’t rushed. Such flexibility doesn’t mean the work isn’t getting done, it simply means that millennials don’t feel pressured to finish everything within a rigid time constraint.
Millennials value opportunities for career advancement. Therefore, an employer offering skill development or mentoring programs will be highly attractive. In some cases, a millennial will choose a position that offers career mobility over a higher paying job. Again, with millennials, it’s better to focus on benefits that offer flexibility and growth. Providing chances to advance their careers is a great way to attract millennials and ensure that they stay engaged with and committed to a company.
As millennials are becoming a major force in the job market, it’s important to consider their needs when creating a benefits package. If you are trying to appeal to younger workers, you should consider offering some of these benefits that attract millennials. It’s also important that your business has the necessary insurance to keep employees of all ages safe. For the most comprehensive coverage for your businesses, contact the helpful professionals at Purves & Associates Insurance Agency.