Experts estimate that by 2020, millennials will comprise 35 percent of the total workforce. This study is an eye opener for employers who consider looking down on their millennial employees and ignore their needs. Millennials are often considered brash, irresponsible, and rebellious. The demands of millennial employees are often labeled as absurd and irrational. Thanks to the changing workforce dynamics, the preconceived notions is no longer a valid argument to ignore the needs that several employers have about their millennial employees. The need of the hour for employers is to build up the bridges with their millennial employees.
At Arrow Benefits Group, we help you exactly do that. We have a deep understanding of which employee benefits work and which fall flat. We have helped several employee benefits administration teams in the San Francisco County come up with agile and streamlined strategies. You can help your millennial employees maintain work-life balance by offering employee benefits. Let’s take a look at some of the benefits:
1. Flexible Work Hours
According to a recent study, 77 percent of millenials think that flexible work timings can make the work place more productive. Many millenials prefer flexible work hours over compensation. A recent study shows that around 76 percent of millenials won’t mind taking a paycut of 3 percent or more to work with an employer offering flexible working hours. To make it appealing for their millennial employees, employers must bury the 9-5 work culture and look out for ways to create a flexible work environment.
2.Supplementary Benefits and Perks
You don’t need to have a plump budget to shower posh benefits on your employees. Even small benefits such as transportation passes, insurance, meal vouchers, and employee discounts can make a huge difference. Although the value is small, these benefits make employees feel more special.
3. Skill Development Assistance
Millennial employees consider knowledge and skills as the two rungs of the ladder to success. While many millenials expect their employees to help them with their higher education and some others want on-the job training. You can follow several strategies to train your millennial employees. For instance, you can create two-member teams comprising of a millennial(apprentice) and an experienced employee(mentor) to work on projects. You can also cross-train your millennial employees by rotating their roles at regular intervals. Team up your millennial employees with your best performers in order to create real learning ambiance.
Millennials love working with an organization that helps them to maintain a healthy work-life balance. As more millennials get into the workforce, employers need to come up with innovative employee benefit programs that address their concerns. At Arrow Benefits Group, we understand how employees think and can help you design a customizable employee benefits administration plan in San Francisco County. To know more contact us at 707-992-3780 and we’ll get back to you shortly.