If you want to attract and retain the top talent on the market, as an employer it’s important that you stand out from your competitors. You can do this by building an exceptional employer brand, that really sells your company culture and the success of your business; or you can offer employee perks and benefits, that set you out from the crowd and boost employee satisfaction.
There’s so much more to a job than the responsibilities and functions of the role, and considering the amount of time that professionals spend at work, they want to feel content in their job and valued by their employers.
Millennials currently make up a large portion of the workforce and are some of the most sought after candidates, so employers should be striving to attract these individuals. So what employee perks do they value the most? Forbes have released a ranking of some of the top working benefits that millennials look for in a job.
1) Training and development
Personal development and the opportunity to progress in their career is the top factor that millennials look for when seeking a new job, so by offering training and the scope for promotion, the top candidates are more likely to join your company.
2) Flexible working hours
Millennials don’t like to feel restricted by their working hours and maintaining a good personal life outside of their jobs is of high importance. Offering flexible working hours is a desirable perk, as it allows employees to keep up hobbies and spend time with friends and families, without feeling chained to their desk. The option of working remotely is also something that a lot of millennials look for, with the progression of technology making it easier to work from home than ever before.
3) Cash bonuses
The opportunity to earn a bonus on top of their salary is a great incentive to entice candidates to the company and encourage them to meet targets. As well as offering bonus schemes, a lot of employers also offer significant discounts off of their goods and services.
4) Free private healthcare
A healthy workforce, is a happy workforce. Employees want to feel like their employers care about their wellbeing and by offering healthcare or gym memberships to help them stay fit and healthy, they are more likely to stay at the company.
5) Pension scheme
Employees of all ages think about their future and want to feel like they are in a good financial position when the time comes to retire. Providing them with a pension scheme will help them to feel supported and on track with their savings throughout their career.
6) Greater vacation allowance
Traditionally, employers offer their staff a set amount of paid time off work per year; however, more businesses are adopting a more flexible attitude towards employee vacation allowance in recent years. For example, Virgin and Netflix allow their staff to take as much time off as they like, as long as staff take responsibility for their work and their absence does not damage the firm.
Millennials in particular value their work-life balance and therefore the freedom to go travelling or undertake hobbies outside of work is of high importance to them.
Find the full list below.
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