In my last blog, I noted that while perks are important, types of perks have changed. Additionally, millennials want more from their employers. What does that “more” entail? Longevity, stability, room for growth, and challenges.
Historically, millennials were known for job hopping; losing interest in one job and quickly moving on to the next. This is changing dramatically. Millennials are now interested in companies they see themselves with for the long term. They want stability, and perhaps, they have always wanted stability. The difference between millennials and previous generations is that they don’t want to just come into work every day merely to put in the hours and leave. They want to be “part of something bigger then themselves”, an idea my parents’ generation may have scoffed at. Millennials also want room for growth and challenges. Their job hopping may not be a factor of a zero attention span, but instead is probably a factor of their quest for a job environment they want to grow in and dedicate themselves to.
I understand this sentiment. For me, small perks are great, but being able to come into a job that forces me to think outside the box, challenges my analytical abilities, and makes me proud of the work I do means I walk into work each morning ready for the day instead of “working for the weekend”. Millennials want their companies to stand for something, and to inspire them to exceed their goals. They want to be recognized for achievements, rewarded for these achievements through growth within the company, and knowing that their voice is being heard, not free bagels.
Millennials also want to work somewhere that aligns with their beliefs and values. Businesses have become more and more vocal about what they stand for (going green, animal protection, personal liberties/rights) in ways they never were before. Because of this, millennials want to work for a company they respect and which shares their core values. Instead of focusing on expensive perks, companies would be better off focusing on building a strong core of principles.
So, what’s the takeaway from these two blogs? Companies still need to offer perks, but they don’t have to cost a lot (or anything at all) because millennials want perks, but more than that, they want a place they can see themselves with 20 years from now.