SHOW THE LOVE: WHAT MILLENNIALS WANT FROM BENEFITS

More than one in three American workers is a millennial so they have the largest generational share in the workforce. And as more finish college and enter the working world, that number will grow.

Traditionally, a company’s employee benefits package serves as one key way to appeal to both job candidates and employees. Millenials, however, have a different range of criteria than other age groups. And they’re not necessarily impressed by a typical employee benefits package.

Just under half of all millennials consider their overall benefits package to be very important for their job satisfaction, according to SHRM research. As a result, millennials aren’t enrolling in benefits with the same frequency as other groups.

You can show the love by creating a millennial-approved benefits package that will boost your recruiting and retention efforts. In a recent BenefitsPro.com article, Bruce Hentschel outlined 5 things millennials want from benefits:

  1. Choice and variety – they are offended by a one-size-fits-all approach, so they want a well-rounded array of benefits;
  2. Customization and control – they expect benefits to be tailored to their needs and they want control over how they spend their money;
  3. True simplicity – they want clear, easy-to-follow steps and systems that are easy to use;
  4. Interaction and collaboration – since social defines millennials, offer ways such as blogs for employees to interact and network to get information and connect; and
  5. Technology, not paper – the biggest difference between millennials and other generations is their use of technology so they want tools that make benefits easier, such as apps and online portals.

Read the full article for all the details. Embrace these concepts and your benefits package will appeal to millennials.

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