The Millennials: Teaching a New Dog Old Tricks

Millennials are a unique generation, bringing their own culture to the workplace. This generation, born between 1980 and 1997 (give or take a few years, depending on the source) is changing the way employers look at their workplaces, including everything from remote offices and stand-up desks to employee compensation and benefit packages.

Employers that keep up with the changing workforce are taking a closer look at their benefit offerings and making adjustments to fit this generation of employees who soon will become the next generation of leaders. The benefits offered haven’t necessarily changed – rather, employers are changing the way those benefits are presented to the younger workers.

What Benefits Appeal to Millennials?

Millennials are looking for more than just a paycheck. Flexibility is key. They prefer a la carte benefit options rather than a set package. They want choice and control. Some recent trends in benefit offerings that appeal to Millennials include the following.

 

Reproduced with permission from Benefits Magazine, Volume 53 Number 12, pages 34-38, December 2016, published by the International Foundation of Employee Benefit Plans (www.ifebp.org), Brookfield, Wisconsin. All rights reserved. Statements or opinions expressed in this article are those of the author and do not necessarily represent the views or positions of the International Foundation, its officers, directors or staff. No further transmission or electronic distribution of this material is permitted. Subscriptions are available for purchase by contacting us at 888-334-3327, option 4 or www.ifebp.org/subscriptions.

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