Millennials love workplace benefits, and for good reason. Who doesn’t love working for a company that provides benefits that alleviate certain pressures of life? Some benefits that millennials are finding to be the most beneficial include health insurance (physical/mental), fitness club memberships, student loan repayment assistance, flexible working hours and schedules, the ability to work remotely, unlimited paid time off or paid travel, free housing, and four-day workweeks.
Health Insurance
Health Insurance is a benefit that most millennials appreciate because it can cut down coverage costs or pay for it completely. Millennials are a generation in which a good majority have adopted the fitness/healthy lifestyle — meaning that paid check-ups with a doctor are appreciated.
Fitness Club Memberships
Millennials are a healthy and fit generation and definitely enjoy the perks of free on-site or off-site fitness memberships. Companies that provide this benefit attract this generation because most hard-working Millennials enjoy exercising!
Student Loan Repayment Assistance
This is a big one, as a vast majority of Millennials carry student loan debt. Companies that offer student loan repayment assistance attract this generation for that reason. Relief of having to pay for student loans entirely out of pocket allows employees to be less financially stressed, which improves workplace performance.
Flexible Working Hours and Schedules
Flexible working hours and schedules are a benefit that most people enjoy, Millennials included. As the generation heads toward a new phase of life that can hold new responsibilities such as parenting, having a flexible work schedule can greatly improve a Millennial’s employee satisfaction, by creating a work/life balance.
Remote Work
Working remotely is a perk for certain positions which this generation enjoys because, let’s face it, sometimes you just need to work from another location. Whether that be at home, in a park, a café, etc. Working remotely allows employee freedoms that can improve overall employee satisfaction.
Paid Travel
Millennials are a generation that love to travel. With that understanding, it’s easy to see why this generation would appreciate the benefits of paid travel. Being given a yearly stipend specifically for traveling is a benefit that anyone can appreciate, but one that employers encourage, as allowing employees paid travel increases their employee happiness.
Free Housing
Free housing is a benefit that isn’t necessarily offered by most companies, but the ones that do offer it increase the amount of applicants that their workplace attracts. Free housing is a benefit that increases employee happiness and productivity by relieving the stress of paying rent.
Four-day Work Weeks
A shorter workweek has been proven to decrease stress levels among employees and increase overall happiness and productivity. As a generation that values productivity and general happiness, Millennials greatly appreciate a four-day workweek. It can relieve stress causing the Millennials to feel more productive when they are at work, and happier when they are not. This benefit is becoming more popular as Millennials enter the workforce.
These benefits and perks are just a number of ways to attract Millennials to the workplace. Benefits such as these are already popular in many workplaces and continue to thrive as Millennials look for more than a standard benefits package from companies.
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