Ten job perks that Millennials love

Millennials are either highly sought after or completely avoided by employers. They have earned negative stereotypes, for example, lazy, apathetic, and social-media obsessed. This occasionally prevents employers from hiring them. However, despite this, many companies need the skills of Millennials. Known for their highly creative, innovative ideas, and tech savvy background. Millennials will occupy the largest workforce demographic and shape the corporate world in the years to come.

One thing that distinguishes millennials from other generations is their working style. They do not seem to be motivated by the same things as their predecessors. And as such, attracting them and keeping them onboard can be a harder task than you realised.

Understanding Millennials is the first step in drawing them into your workplace. You need to know what motivates them in their careers, being on the same wavelength to understand their wants and needs. Millennials view the workplace through the same lens of new technology as any other aspect of their lives: instant, open, and limitless. So what can companies do to attract and retain the top talent of this generation? Here are 10 awesome job perks that might give you some ideas.

1. Traveling

Forget about buying fancy homes and fast cars. According to a study published by Harris Group, 72% of Millennials would rather spend their money on travel and social events. Companies that offer travel benefits will attract more Millennials, and by letting them travel in their time off, lower their stress levels.

Airbnb is an exemplary company when it comes to giving travel perks. Through their travel credit program, employees are encouraged to travel at least four times a year. Travel credits are handed out at the start of the quarter and expire if they go unused.

2. Flexible working hours

Millennials value personal time. According to a recent study on The Cost of Millennial Retention, 45% of Millennials chose flexibility over higher pay. They’re not great supporters of the 9-5 working day, and prefer to be out of the office when the shift is over. The option to work from home, allowing them to organise personal and work schedules effectively, is held in higher regard.

3. Free food

You no longer have to languish over your sad desk lunches anymore.  Many companies, from startups and small business to big giants like Google, Pixar and Drop box, offer free catered food for their employees. Other companies found that free food during meetings or on Fridays increases productivity and employee motivation.

4. Training & team building

Millennials consider themselves as life-long learners. Companies that provide training and team building will earn points with this generation. Team building activities are great for relieving stress and maintaining positive working relationships.

5. Games rooms

Who doesn’t want to play from time to time? Games relieve stress, are a great way to have fun and bring people closer together. Whether its video games, or classics like foosball & ping-pong, a games room is sure to revive any boring work environment. Enhancing the company culture and retaining Millennial employees can’t be bad either.

6. Pet Insurance

Pets in the office are the latest trend, with some companies now offering pet insurance. They believe that pets in the workplace can improve morale and reduce stress and fatigue. A great way to reach out to animal lovers.

7. Gym Membership, Spa or Yoga

A healthy employee is a happy employee – and happy employees get the job done. Millennials are aware of just how invaluable there health is. If you want them to be a part of your company, wellness programs just might be the motivation they need.

8. Charity Events

Give something back to the world. Millennials believe companies should contribute towards a good cause, giving them the chance to experience new things and make life more meaningful. It could be something simple like serving food at a local shelter or cleaning up the local park. Hosting offsite charity events will likely attract Millennials.

9. Freebies

A free Netflix subscription, magazine, gadgets, or company merchandise are small but effective incentives to help boost employee loyalty and attract new talent, especially Millennials. They are some of the most budget savvy, doing anything to get something for less – or free!

10. Commuter Allowance

Commuting to work can be stressful.  Fuel or metro passes can be expensive.  Contributing to these inevitable costs will show you value your employees. Not just a kind gesture, but also insuring your newly hired Millennial talent will stick around.

Source: lifehack.org
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Author: Míša Benešovská

I’m a freelance journalist and copywriter, mainly covering IT industry. I’ve been fascinated by it for nearly a quarter of a century (or since I dismantled my first computer). I worked for Seznam.cz, Unicorn Systems or Mafra publisher. In my spare time, I love game consoles and keep perfecting a recipe for the best pumpkin risotto in the world.