With Millennials now making up the largest segment of the U.S. workforce, employers are continuing to delve into understanding this complicated generation that is unlike any of the generations that preceded them. Much has been written about who Millennials are and what they are like.
To summarize Millennials and the workplace, Purchasing Power, the leading e-commerce employee purchase program offering consumer products and services as a voluntary benefit at the workplace, just released the first of its Generation Insights Series focusing on Millennials.
Our Guide to Millennials: Hiring Them and Keeping Them highlights who Millennials are as well as their thoughts on the workplace, the benefits they want most, and the best methods to engage them.
“Figuring out how to recruit, work with, and retain engagement with Millennials may be one of the biggest challenges organizations face today,” said Christy DeFrain, Purchasing Power Vice President, Sales and Account Management. “Although they are stereotyped in many ways, the key to recruiting and keeping Millennials is understanding them, recognizing what motivates them, and then addressing their differences. Our Millennial Insights is a great ‘quick-reference’ guide to what Millennials think about work as well as their benefits,” she added.
Purchasing Power’s guide highlights ‘Millennials and Work,’ including such topics as how they look at flexibility, their job and compensation, their manager, performance reviews, changing jobs, retirement, and personal financial stress and how it affects their job. The ‘Benefits that Matter’ section covers what’s important to Millennials in traditional benefits, overall benefit options, development opportunities and financial wellness. Since Millennials are less likely to know about their employee benefits than other generations, the section on ‘Engaging Millennials’ with their benefits focuses on methods of how to communicate with them effectively.
“Millennials either aren’t aware of or are confused by many of their benefit options -- so they don’t use them,” DeFrain noted. “Part of understanding how to engage Millennials in their benefits means using ‘pull’ communications and, in addition to providing benefit information, illustrating why it matters.”