In the simplest terms, hiring someone to join your business is a transaction. The employer provides a living wage and other benefits. The employee supplies skills and experience to help the organization meet its goals.
Just as the HR department seeks out only those qualified candidates that best match your requirements, job applicants consider only those companies that can offer the benefits that best fulfill their needs. Although a healthy salary and insurance coverage are two of the most important, there are other factors that job seekers weigh as they search. These may include proximity to their homes, office amenities and PTO, among others.
As those in the millennial generation assume a larger role in the global workforce, they are having a transformational effect on the way employers attempt to engage with them. Millennials have a different set of priorities and concerns when compared to their parents, and many companies have adjusted the perks they offer to follow suit.
For example, work-life balance is of higher significance to young professionals. Because the majority of couples in this age bracket are dual career, they are looking for employment options that allow parents to spend more time at home with their children. As a result, many offices offer flexibility in the form of remote working, in addition to extended paid maternity and paternity leave.
Another important concept to these modern employees is self-care. Unlike previous generations who often worked even if it meant their physical and mental health suffered, millennials prefer to take time for themselves once in a while. Businesses are responding to this trend by providing in-office wellness programs such as yoga sessions or on-site fitness centers. In some cases, employers recognize the importance of pets to their personnel’s well-being and even allow them to bring furry friends to work.
On the more practical side of the equation, today’s professionals are entering the working world with a heavier student loan burden than any generation before them. This means companies that offer debt-reduction aid or tuition reimbursement have a decided advantage over those that do not.
If your organization can provide more to attract a potential new hire, you are in a much better position to bring that person on board. To learn more about how to improve the value proposition you present to young professionals, take a look at the accompanying infographic.
Infographic provided by The Jacobson Group