Much has been made of the way millennials seem inclined to hop from job to job. However, this doesn’t mean that they have no loyalty. In fact, many millennials are looking for a place to call home, and you can provide it in your business.
However, in order to retain workers, you need to understand what they want from a job. While millennials are individuals and want different things, you have a better chance of keeping good talent when you offer the right perks. Some of the perks to consider offering through your business include:
Flexible Work Schedules
One of the best ways to retain workers is to offer a flexible work schedule when possible. Do your employees need to come in an hour early so they can leave earlier in the day? Perhaps an employee wants to come in later and stay later.
In some cases, you might be able to allow your employees to telecommute at a day or two each week. Maybe you even have a fully remote team. In those cases, it might not matter when the work is done, as long as it does get done.
Many millennials value the freedom that comes with flexible work schedules. The more flexible you can be, the more likely you are to find success.
Research indicates that millennials are more likely to remain loyal to a company if they have access to career development opportunities. Do you offer chances for advancement? Do you offer opportunities to expand knowledge and skills?
Creating a path that allows your workers to explore career opportunities and move forward can be a good way to attract and retain top talent. If a worker feels like they have a future at the company, and they aren’t just stuck in a dead-end job, they are more likely to stick around and bring value to your business.
Solid Benefits Package
It’s true that millennials want some other things that previous generations might not value as highly. But something these workers have in common with previous generations is the fact that they want a solid benefits package.
This type of package includes perks like health insurance and a retirement account. Health insurance is a huge cost, and it doesn’t look like much will change in the near future. You can entice workers with the prospect of good health insurance.
A retirement plan can also help, particularly if you offer a match. This might not be possible for every business owner, but it doesn’t hurt to offer a retirement plan if possible. And if you can swing a match, that sweetens the pot.
An up-and-coming benefits perk seeing more popularity is helping workers pay their student loans. You can provide a benefit that helps them reduce this huge, long-term debt.
When you offer perks that matter to the bottom line, even if you don’t offer a huge amount of pay, you are more likely to retain workers.
A Purpose for Your Company
Finally, you might be surprised to learn that you can retain workers when you offer a mission. Many millennials like to feel as though their values align with the companies they work for. If you can provide a mission your employees can get behind, you are more likely to keep them.
Employees who feel as though they have purpose when they get up in the morning, and a reason to come to work and do their best, are more likely to feel fulfilled and stay with your business.
Consider what your company can offer millennials. With the right perks, you can retain workers and see better value for your company.