SUMMARY: Your company is competing for talent and more than the position itself, today’s Millennial employees are looking at benefits including time off to determine if your possible offer is right for them.
If you think that working for your company is “reward enough” you had better grab a cup of coffee. The biggest demographic segment of white collar workers is Millennials and more than anything they want two things:
1ne: Meaningful work
2wo: Benefits that allow them to have a better work-life balance.
Meaningful work, in their terms, is feeling that they are contributing to your company’s success. Benefits mean having enough time off to enjoy the fruits of their labor. This is where HR needs to “sell” management.
The standard company package of two weeks vacation and paid major holidays is not going to cut it anymore. Companies like Google understand that, in order to attract and retain talent, they need to go above and beyond when it comes to benefits. At a minimum, companies need to think about offering benefits like more time off, tuition assistance, and better company cafeteria’s.
Of course the problem with this is that HR is trying to convince executives who are focused on the balance sheet. Most still understand that investing in employees benefits everyone in the organization. They are under pressure to fill open positions with a warm body, not necessarily the best talented person.
Here are some things that people are looking for in new jobs:
- More than two weeks off. Some companies are shutting down between Christmas and New Year’s day and closing one week in the summer, usually around July 4th.
- Summer Friday’s
- Ability to work from home
- No eMail after 7PM or on weekends
- Health, wellness programs
- Access to online professional learning
Of course the number one reason people leave their existing positions is because of bad managers. I’ll be talking about this later as it’s a serious problem facing a lot of organizations.
HR needs to fight the battle in favor of recruiting and retaining good people. I know its not easy, but if you don’t do it then who will?