Keeping great talent around is one of the most significant challenges of running an organization. Attracting new great talent? That’s even more of a challenge. The needs of younger generations have proven to be distinctly different from those that came before. And while there may have been a time when a ping pong table and a beer tap in the breakroom were enough to get the job done, that won’t fly anymore. Millennials and Gen Z talent are looking for more substance. Here are some perks and benefits that the younger workforce actually wants.
Student Loan Repayment Plans
About 45 million people in America are currently saddled with student loans. Not only does a student loan program help your company stand out in the market, but employees who aren’t stressed about their finances are more focused employees.
Remote and Flexible Work
Working from home may have started with the pandemic, but it’s a trend that’s not going anywhere. Many companies have made the move toward full or part-time remote work to offer a more flexible work environment for employees.
Home Buying Assistance
With home prices continuing to skyrocket, buying a first home continues to be a daunting aspect for the younger generations. By assisting with home purchases in the area, you attract talent and build a loyal local workforce.
Pet Insurance
An emergency trip to the vet for a dog can cost anywhere from $800 to $1,500. For younger employees with less financial cushion (and really anyone with a beloved pet), pet insurance is an attractive perk that offers some financial peace of mind.
Mental Health Days
If you’re looking to attract the “burnout” generation, provide perks to help them avoid it. Mental health days are a great way to show you value your people and are looking to ensure their long-term success.
Wellness Education
Wellness can mean a whole lot of things nowadays. Whether financial, physical, emotional, or spiritual, providing perks that allow your workforce to take care of themselves demonstrates your commitment to your people and their health.
Paid Paternity and Maternity Leave
This benefit is top of mind for workers with young families or those who are thinking about starting a family. Offering competitive leave shows that you value your people and are willing to support and invest in their careers for the long term.
Company Book Club
Younger generations value creating connections at work—they enjoy getting to know their coworkers outside of job requirements. A book club, like Xenium’s, is a great way to create connections, encourage conversation, and fuel growth.
Volunteer Time Off
Many millennial and Gen Z workers are looking for companies that share their values around community impact. Encouraging volunteering on the company clock is a great way to give back and attract talent who are looking to make a difference.
Mentorship Program
Show that you’re ready to invest in young talent from day one. A mentorship program not only helps new employees grow and achieve their goals but ensures they’re engaged and building new valuable skills.
These perks all have the potential to move the needle on your recruiting goals. But there’s one key thing you have to remember when working to attract younger people to your company. You have to create an environment that welcomes and values them. Think of perks and benefits like these as the icing on your company culture cake. Thoughts? We’d love to hear what’s worked for you—and what hasn’t—in the comments.