Satisfying the Demands of the Millennial Workforce

It’s no surprise that companies are catering to Millennials in order to keep them around. According to Inc., “Sixty-six percent of Millennials expect to leave their organization by the end of 2020, and only 16 percent of Millennials see themselves with their current employers a decade from now.”  So how are companies keeping the millennial workforce around? Simple: perks.

While Burton, the snowboard manufacturer, allows employees the day off to hit the slopes (if two feet of snow falls in 24 hours) and Pandora, the music streaming company, offers free-in office concerts, surprisingly, these aren’t the kind of perks millennials are seeking most. According to a recent survey by Forbes, Millennials have narrowed their list to four of workplace benefits and perks they prize:

Healthcare: The workplace might be evolving, but some things never change. A robust healthcare benefit remains critical.

Flexible Schedules: 35% of Millennials say they value flexibility in their schedule over pay.

Student Loan Repayment: With 44 million college graduates carrying $1.3 trillion in student debt, this benefit is increasingly attractive to this demographic.

Career and Personal Development: Millennials want jobs where they can learn and grow. While exotic perks are often associated with millennials, the workplace benefits and perks of greatest value are similar to the preferences of prior generations.

Source: TechServe Alliance