Every company on the planet seems to be concerned about attracting and retaining young talent. At some companies, there are entire teams dedicated to innovating workplace perks just keep Millennials happy.
But few of those companies or teams ever go to the young talent themselves to ask what is important to them. So we did that for them! We asked members of the Young Entrepreneur Council (YEC) this question:
To attract young talent, what is the one workplace perk you wouldn’t be surprised to see employers rolling out in the near future?
Here are some of their most interesting answers…
Bonuses Via Time Off
“Millennials care less about money and more about life adventures. I wouldn’t be surprised if over the next few years companies moved away from traditional monetary bonuses and into more lifestyle bonuses like additional days off or exotic vacations. With more Millennials entering the workforce each year, the traditional two-weeks-off policy until you “earn” more seniority isn’t sustainable.”
-Kim Kaupe ZinePak
Personal Growth Reimbursement
“Millennials are way more focused on their personal growth now versus traditional retirement pensions and packages. In addition to tuition, I see companies providing stipends or reimbursements for all sorts of non-core skills related to learning and training, including for language, arts or coaching. They know that having a wide range of hobbies will make for more creative and engaged teams.”
-Jared Brown Hubstaff
“Richard Branson of the Virgin Group implemented this perk, and several startup CEOs are also starting to follow in his footsteps. While offering unlimited vacation to your employees may seem counterproductive or just downright crazy, Branson swears that his staff does not abuse the policy and instead shows more loyalty and has higher morale.”
-Firas Kittaneh AstraBeds
More On-Site Workout Classes
“It’s no surprise that fitness is having a “moment” and Millennials are more fitness-obsessed than most. With cult-like followings around everything from SoulCycle to Lululemon to CorePower to Pure Barre, I wouldn’t be surprised to see offices rolling out on-site workout classes. My company hosts “Workout Wednesdays,” where everyone wears workout gear to work and does a lunchtime class together!”
-Windsor Hanger Western Her Campus Media
Flexible Work Schedules
“It depends on the industry, I know, but flexible work schedules are becoming increasingly valuable to younger generations. If you allow your team members to work when they want and how they want (within a specific set of guidelines and with crystal clear expectations), it supports the emerging idea of work-life integration. Flexible work schedules also provide the autonomy many Millennials perceive as a major perk.”
-Chris Cancialosi gothamCulture
More Corporate Social Responsibility Initiatives
“Millennials are attracted to companies that care about how it impacts and contributes to society. If employers want to recruit and retain Millennials in the workplace, they will need to launch and sustain Corporate Social Responsibility initiatives. One of my favorites: community involvement on a local level like a park or beach clean-up, or a Sunday morning spent at a local food bank.”
-Stephen Ufford Trulioo
Smart Whiteboards Everywhere
“Whiteboard walls are everywhere, and you can even write on windows with dry-erase markers. Our generation is constantly moving and thinking, and some of these thoughts could change the world. We need the ability to actively document our ideas and capture them in a living document. I use Evernote and Google Drive for this, but I could see living whiteboards being in every office.”
-Eric Schaumburg Eventr.io
Elimination of the 9 to 5
“Millennials don’t see the world in black or white or 9 to 5. They’re much less traditional, believing that output is more important than just showing up during the hours you’re supposed to be there. Hold Millennials accountable for their output and you’ll inspire them, but if you hold them accountable for showing up at 9 a.m. sharp, you’re focusing on the wrong metrics.”
-Andy Karuza FenSens
In-House Health Directors
“Exercise can be the first casualty in a hectic work-life balance. Our in-office health director has generated huge buzz and probably contributed to our recent “Best Place to Work in NY Tech” award. He offers personal training and bi-weekly bootcamps for our team. Preventative care helps businesses and employees in the long run, so I expect to see more companies getting on board.”
-Jeff Fernandez Grovo Learning, Inc.
“Millennials love food perks. I think more companies will get on board with offering gourmet breakfast options, catered lunches, taking teams out to lunch, or having a constant stream of healthy gourmet snacks available in the office.”
-Luke Skurman Niche.com
For this post, YouTern would like to thank our friends at Business Collective!