10 Most Sought-After Perks for Millennial Employees

Time off with “earned” seniority is outdated. Here’s what will help with Millennial talent retention.

Question: With more Millennials in the workplace, what is one office perk you wouldn’t be surprised to see rolling out in the near future?

Question: With more Millennials in the workplace, what is one office perk you wouldn’t be surprised to see rolling out in the near future?

Bonuses Via Time Off

"Millennials care less about money and more about life adventures. I wouldn't be surprised if over the next few years companies moved away from traditional monetary bonuses and into more lifestyle bonuses like additional days off or exotic vacations. With more Millennials entering the workforce each year, the traditional two-weeks-off policy until you "earn" more seniority isn't sustainable."


Personal Growth Reimbursement

"Millennials are way more focused on their personal growth now versus traditional retirement pensions and packages. In addition to tuition, I see companies providing stipends or reimbursements for all sorts of non-core skills related to learning and training, including for language, arts or coaching. They know that having a wide range of hobbies will make for more creative and engaged teams."


Unlimited Vacation

"Richard Branson of the Virgin Group implemented this perk, and several startup CEOs are also starting to follow in his footsteps. While offering unlimited vacation to your employees may seem counterproductive or just downright crazy, Branson swears that his staff does not abuse the policy and instead shows more loyalty and has higher morale."


More On-Site Workout Classes

"It's no surprise that fitness is having a "moment" and Millennials are more fitness-obsessed than most. With cult-like followings around everything from SoulCycle to Lululemon to CorePower to Pure Barre, I wouldn't be surprised to see offices rolling out on-site workout classes. My company hosts "Workout Wednesdays," where everyone wears workout gear to work and does a lunchtime class together!"


More Corporate Social Responsibility Initiatives

"Millennials are attracted to companies that care about how it impacts and contributes to society. If employers want to recruit and retain Millennials in the workplace, they will need to launch and sustain Corporate Social Responsibility initiatives."


Elimination of the 9 to 5

"Millennials don't see the world in black or white or 9 to 5. They're much less traditional, believing that output is more important than just showing up during the hours you're supposed to be there. Hold Millennials accountable for their output and you'll inspire them, but if you hold them accountable for showing up at 9 a.m. sharp, you're focusing on the wrong metrics."


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10 Most Sought-After Perks for Millennial Employees

Time off with “earned” seniority is outdated. Here’s what will help with Millennial talent retention.

Question: With more Millennials in the workplace, what is one office perk you wouldn’t be surprised to see rolling out in the near future?

Question: With more Millennials in the workplace, what is one office perk you wouldn’t be surprised to see rolling out in the near future?

Bonuses Via Time Off

"Millennials care less about money and more about life adventures. I wouldn't be surprised if over the next few years companies moved away from traditional monetary bonuses and into more lifestyle bonuses like additional days off or exotic vacations. With more Millennials entering the workforce each year, the traditional two-weeks-off policy until you "earn" more seniority isn't sustainable."


Personal Growth Reimbursement

"Millennials are way more focused on their personal growth now versus traditional retirement pensions and packages. In addition to tuition, I see companies providing stipends or reimbursements for all sorts of non-core skills related to learning and training, including for language, arts or coaching. They know that having a wide range of hobbies will make for more creative and engaged teams."


Unlimited Vacation

"Richard Branson of the Virgin Group implemented this perk, and several startup CEOs are also starting to follow in his footsteps. While offering unlimited vacation to your employees may seem counterproductive or just downright crazy, Branson swears that his staff does not abuse the policy and instead shows more loyalty and has higher morale."


More On-Site Workout Classes

"It's no surprise that fitness is having a "moment" and Millennials are more fitness-obsessed than most. With cult-like followings around everything from SoulCycle to Lululemon to CorePower to Pure Barre, I wouldn't be surprised to see offices rolling out on-site workout classes. My company hosts "Workout Wednesdays," where everyone wears workout gear to work and does a lunchtime class together!"


More Corporate Social Responsibility Initiatives

"Millennials are attracted to companies that care about how it impacts and contributes to society. If employers want to recruit and retain Millennials in the workplace, they will need to launch and sustain Corporate Social Responsibility initiatives."


Elimination of the 9 to 5

"Millennials don't see the world in black or white or 9 to 5. They're much less traditional, believing that output is more important than just showing up during the hours you're supposed to be there. Hold Millennials accountable for their output and you'll inspire them, but if you hold them accountable for showing up at 9 a.m. sharp, you're focusing on the wrong metrics."


See Also: How to Manage Your Remote Team Once the Workload Grows

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