Workplace Perks (Benefits) Millennials LOVE
Work is becoming a lot more fun. Finally! It’s been an eternity! We are slowly, but steadily getting there.
No more career ladders, uncomfortable office uniforms, depressing cubicles and set holidays.
More than any other generation, Gen Y is made up of job hoppers. And there are some valid reasons for that.
Here are few of them:
Going freelance or starting their own business
Millennials are the most entrepreneurial generation and dream of marrying their career to their creative passions. According to the research conduced by Deloitte 67% of 18 to 34 year olds would exit their traditional jobs for a more creative self-employed track. That’s quite a lot of us!
So,what can you offer to your best employees, to make them want to stay with you instead of going solo?
Workplace perks for keeping your best talent
- Opportunity to buy company shares and stocks
- Ask them!
No rapid progression possibilities
Millennials won’t wait for 3-5 years for promotion, it’s a waste of our talent and drive. Once a job is learnt inside out, it’s time for somebody else to take it over.
There is an economic pressure for companies to flatten. Layers of hierarchy and middle management is progression killer.
Workplace perks that motivate Millennials
- Monthly recognition and feedback
- New jobs and assignments every 1-2 years
Lack of purpose
Ask a millennial to do a task and 9 times out of 10, the first question they will ask is, “Why?” It’s a shocking response for some of us who were raised in a world where you don’t question authority figures, but the truth of the matter is that it’s a good question – one we should ask more often.
Millennils want responsibility and control of their work. If you don’t feel like you have some influence, it’s hard to feel that what you’re doing is meaningful.
Millennials believe that the primary purpose of business is to improve the world around us, show recent study by Deloitte.
Lack of purpose means lack of employee engagement and lack of engagment means leaving the job sooner or later.
Workplace perks for purposeful Millennials
- Room for Passion Projects
You can harness this spirit to further your mission and goals by allowing Millennials to identify passion projects in the workplace and then work toward those projects in their downtime. Maybe your Millennial employee is passionate about yoga and meditation and they’d like to make a quiet room at work, or their love is community service and they want to hold an Earth Day cleanup. In either case, there are many ways that these passion projects can benefit your employees and your company.
- Paid time off for volunteering or board service
Introduce pro bono work and company-branded volunteering to help people and communities.
Millennial employees want to be able, through their workplace, to make a tangible difference outside the workplace.
Millennials’ preference for organizations that have open, fun and inclusive leadership styles; and they thrive on fairness and performance-based appraisals, not tenure and seniority.
Workplace perks to keep Millennials happy
- Direct access to company executives regardless of title
- Family atmosphere that feels more like home than work
- Casual dress code and no strict rules (such as no headphones policy etc)
And here are some of my personal favourites:
- Flexible scheduling
Sometimes I’d want to take a Friday off here and there or leave a little early when the mood strikes as opposed to taking an entire week off at a time. The result? Millennial-led projects are seldom delayed and time in the office is spent working – not wishing they were out of office doing something else.
- Unlimited paid-time-off
Many companies are still hesitant about this one, the results may pleasantly surprise you. Employees work more efficiently knowing they can tackle personal challenges that appear throughout the year and do not need to worry about requesting subsequent time off.
Companies that offer unlimited holidays and flexible work schedules are doing more than offering cool perks. They are telling their employees, “We trust you.” In turn, the young employees are more likely to act like responsible adults – often putting in more hours than is expected of them.
- Getting rewarded by cycling to work
I’m not sure if this one has ever been implemented, but I think it’d be really cool. Not only it will get people fitter and save on health spendings, it’s also environmentally friendly and could perhaps create more jobs?
- Food, food, food
No wonder that free snacks and catered lunches are the top perks offered in the companies. We not just love to eat, we also need to eat (we get hungry). It’s a basic need, that everyone loves.
Catering lunches gives employees freedom from worrying about what they are going to eat every day and having to pack a lunch. Providing free, healthy options also encourages employee wellness.
- Paid fitness memberships
For a fitness junkie like me, this one is a real treat!
- Pet at work policies
There’s boat loads of research into how pets make us happier. Many UK companies such as London based Made.com now allow employees dogs in the office, saving employees money in annual dog-sitting fees and making employees that little bit happier.
PS! If you are a company on a budget, there’s plenty of cost effective ways to show your care:
Aeron chair (super comfy), or £100 to every employee to design their work space just the way they want.
The whole idea of work benefits is not the luxury that comes with it, it’s the care and respect you show to people you work with, and it doesn’t cost much. Because this is what all Millennials really want!