The 401(k) is Old Hat: Work Perks for the New Generation
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How do successful companies attract the best and brightest young talent? It's a question that small businesses and Fortune 500 corporations alike have struggled with in the efforts to replenish their operations with new workers. The millennial generation faces many struggles to find work, including a greater difficulty in finding health insurance than any other age bracket, but that hasn't changed the fact that a job alone won't make a young person sign on the dotted line to work for an organization, as Census.gov indicates. How can companies adjust their business policies to appeal more to the needs of millennials?



Go Forth And Conquer



Homebodies in the newest generation of American workers are few and far between. Travel, especially travel abroad, represents one of the highest priorities among millennials. That's not drastically different from their predecessors, but one thing that sets millennials apart is the desire to travel on their own terms. An Expedia study notes that the millennial generation changes travel plans more frequently, modifying their travel itinerary nearly twice as much as the age bracket of their parents. Promise new hires the chance to travel and even plan their own travel for business trips, and they'll be more likely to consider your company one that shares and validates their interests.



Social Situations



It's no secret that millennials love social media, but not everyone realizes the extent to which it's become a regular part of their lives. Millennials are not only more likely to have a social media profile, but they're nearly as likely to have a profile as all other generations combined. Some companies prefer to block social media pages, restrict updates, and closely monitor employee posts. There are few millennials who consider these policies to be anything short of draconian, and many who may avoid employment altogether with a company who puts such severe restrictions on their ability to communicate with friends, family, contacts, and other members of their networks.



Cash Was King



In a time when handling paper money is the road less chosen and payment systems are almost entirely digital, the thought leaders of our society have begun moved away from using cash. Millennials prefer electronic transaction systems and currency, such as PayPal and BitCoin, while harboring an intensive dislike for cold hard cash, to the point where Forbes reports that millennials view cash as "dirty". Instead of using cash as a reward, incorporate payroll direct deposit software into your operations so that employees never need to take their check to the bank, let alone cash it. A cashless business, with card swipes for vending machines or parking spots, helps to avoid loss and theft, and it's also pretty hip.



Transit Authority



Many things appeal to millennials, but a daily commute through rush-hour traffic isn't one of them, as Intuit points out. 35% of millennials live in a community where walking, bike riding, or taking a bus represents a better option than driving, while 44% want exercise in their daily route and 46% want to save money on car payments, insurance, and gas. You can encourage transportation flexibility at your business by building bike racks, developing ride shares, or even creating shuttle routes for employees to get to work each day without having to stress over driving and parking.