Companies today are required to do a little “outside the box” thinking when working to attract young employees who represent Generation Y, or the Millennials as they are often referred to. It’s a task that many businesses compensation and benefit plans aren’t set up for, at this point in time. The good news is that coming up with a plan that that is likely to attract Generation Y employees and also keep them satisfied and working for your business doesn’t have to be a financial burden for your business.
Most businesses have figured out that it’s becoming more and more critical to start turning to Generation Y to meet their ongoing staffing needs. Baby Boomers are retiring left and right, and Gen Y workers are the ones who are going to have to step up and take their places in the work force. Unfortunately, companies today are having a hard time attracting and keeping this generation happy and working with any long-term success.
Part of the problem is the approach. Companies have, by and large, been relying on a very similar set of benefits and perks to keep employees happy for decades. The problem is, Gen Y isn’t interested in discount bulk grocery club memberships, a holiday turkey, and assigned parking. They definitely aren’t interested in working long hours and dealing with the monotony of tedious tasks in order to get these benefits. It takes a little something else to attract their attention and keep their eyes on the company’s prize, rather than their own prizes.
Here are a few inexpensive perks your company can offer that Gen Y will find highly attractive in the companies they choose to work for:
Follow Google’s Example
Google is an excellent example of how to attract and keep Generation Y employees. You don’t have to have a high-tech business in order to follow the example Google sets for work perks and employee retention. Google isn’t about stuffy dress codes and stiff office spaces. They have game rooms, rock climbing walls, bowling alleys, and employee lounges. They understand that Generation Y thinks best while active. They realize that coding can take place over a pool table or while playing video games. Google has its eye on results and not on actual hours behind a desk.
Offer Career Flexibility
The other big draw you can offer that will make a world of difference to any die-hard member of Generation Y is time. Allow them the opportunity to tailor their work day in the way that works best for them. As long as they’re getting the job done, does it really matter if they’re working five eight-hour days or four 10-hour days? Does it disrupt business if they come in at noon and work until 8:00 or 10:00 in the evening, rather than coming in at 8:00 sharp in the morning? These benefits cost the company nothing at all and are often preferred by Gen Y over higher salaries.
Every business can’t be Google. Sometimes it isn’t practical to have employees pick their start time or even the number of days they work. But benefits such as these – that put a little bit of power in the hands of the employees – are the types of benefits Generation Y finds most appealing.
For great career opportunities for employees of all ages and examples of appealing job postings, visit TempStaff’s job boards today!