Love them or hate them, millennials are quickly becoming the largest working group in the country. Many companies have been slow to adapt to the unique desires of millennials, and countless news articles claim that attracting millennials takes any number of ridiculous things, and the lack of securing these can lead to high turnover and worse. Today we’ll answer the million dollar question of our age: “What do millennials actually want from an employer?”
Fair Compensation & Benefits
One major issue that continually resonates between millennials and boomers is entitlement. Boomers classically tell millennials they have to “do their time,” “earn their stripes,” or even just “put in the work.” Millennials then fire back with the growing amount of student loan debt, cost of housing, and general cost of living expenses they suffer from that boomers did not (relative to the adjusted inflation rates). Whether you’re nodding or shaking your head at either of these claims, the long and short of what this tension has created is an environment in which millennials notoriously flow between jobs and boomers frustratedly wonder what can keep them in place.
The answer? Obviously, is fair compensation and benefits. Articles across the internet will have you believe that millennials want foosball tables, unlimited PTO, and flip flops at work, as if any of those can help provide healthcare for their infants, allow them to save for a down payment on a home, or help to chisel away at their mountain of student loan debt.
Get Ahead of the Curve
There’s a perception that millennials are all college students or freshly graduated, when in reality they are ages 18 to 34. At 34, do you think you would care if your office allowed you to wear shorts to work or if you had to opt for private health coverage because the benefits offering for your family through your office was so weak? By instead proactively finding ways to offer a better benefits package for millennials, saving hundreds on foosball tables, you can actually keep this aging workforce in place, likely saving tens of thousands in turnover.
Start with Group Health Insurance
If the cost of benefits makes you cringe, just imagine what the costs of turnover will do to your business. By offering a strong health insurance package, you can keep family-forming millennials loyal to your company long into the future. Without it, you’re sending the same antiquated message that these workers need to “do their time” to earn a decent living, and your business will likely suffer through high turnover and weak talent for it.
Get competitive group health insurance through Ameri Quote today.