Attracting top talent can feel like a minefield for any hiring manager, especially when hiring millennials. The generational gap doesn’t help recruiters, because millennials entering the workplace are less tempted by “traditional” employment benefits. Pwc, in their Millennials At Work survey, aimed to find out exactly what benefits millennials appreciate the most and thus make potential employers attractive. Here are the 7 most attractive work benefits to consider when attracting millennials to open positions!
Continuous development opportunities
It is no secret that millennials strive for continuous growth. Guidance is especially valuable for those who are just exiting the academic world and entering the workforce. Having training programs and development plans in place will engage millennial workers from the very beginning of their employment experience.
Flexible working hours
Millennials do not view traditional 9-to-5 jobs as the gold standard of work life anymore. According to AIESEC’s Youth Speak report that surveyed over 40 000 young people ages 18-29, 48% percent of respondents defined work-life balance as “the opportunity to pursue personal interests”. Allowing for such a balance will not only help in recruiting top young talent but also in engaging them in the longer term.
Money may not be everything to millennials, but they too want to know that their hard work has paid off. Though financial benefits are ranked under flexibility and personal development, they can still be used to entice and engage millennials.
Access to healthcare is an obvious benefit to consider, as it is a must-have for any new employee’s security. The possibility to choose healthcare providers is particularly attractive as individual health needs become more varied.
Investing in the future
The aging population worries millennials too; as many countries raise their retirement ages and lower benefits, millennials are conscious of the fact that they may not have the same opportunities to retire as their parents. Therefore, having robust pension schemes in place, therefore, is a competitive benefit.
In line with flexibility in work hours, millennials wish to have time to dedicate to their loved ones. Providing longer vacations has an effect not only on employee engagement but also performance, as stress and burnout can be avoided.
This benefit is especially poignant when hiring from abroad or otherwise relocating in search of employment: assistance in finding housing can make or break the contracts. Partnering with AIESEC can help your young talent find the support they need in relocating for international job opportunities.
Work benefits are a crucial tool in attracting top talent and the right benefits will make your organization stand out from the competition for top hires. Invest in what millennials value and your employer brand will speak for you!