AiVi Nguyen, partner with the law firm Bowditch & Dewey
Updated: January 24, 2022
10 things
10 Things I know about ... Providing better benefits for young employees
By AiVi Nguyen
According to Forbes, Millennials stay at a job on average for two years and nine months. Companies need to either work under a business model accounting for frequent turnover or they must offer benefits, tangible and intangible, enticing Millennials to stay significantly longer than this average. What are some of these benefits?
10) Flexible work schedule, including the ability to work from home, at least some of the time
9) A robust paid maternity and paternity leave policy.
8) Updated technology, so working remotely is seamless.
7) Compensation. Get creative. A low-interest loan from the company for a down payment on a house in Central Massachusetts or to pay off high-interest student debt are both attractive options.
6) Paid vacation time they are encouraged to use.
5) Collaboration and teambuilding. Millennials do not want to be silos carrying the weight of the world on their shoulders alone.
4) An open-door culture cultivating mentorship, both from peers and from leaders throughout the company, formal and informal.
3) A clear path to success, with measurable goals, and frequent communication about how the employee is progressing along the track.
2) A company culture of values, diversity, and inclusion. Young employees want to feel the work they are doing is meaningful to society as a whole.
1) The ability to engage in the community on company time, like sitting on nonprofit boards, for example, which can provide tangible benefits for the business as well.
WBJ Web Partners
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