We often hear from small business owners that attracting and retaining great employees is one of the biggest challenges they face. By the year 2020, Millennials will make up almost half (46%) of the workforce, which means that it is vital that small business leaders learn what these employees expect in order to successfully compete for the best employee talent. An article from BenefitsPro highlights five things that Millennials want with regard to benefits.
Choice and Variety: Millennials appreciate choice in their benefits package and may be turned off by a one-size-fits-all benefits package. Offering multiple health plan options or an array of voluntary benefits, such as dental, vision, life insurance, long term disability, accident insurance, flexible spending etc. can attract these employees and keep them on board long-term.
Customizations and Control: Millennials like to have control over how they spend their money. Offering consumer-driven health plans, like those paired with health savings accounts can help appeal to these types of employees.
True simplicity: Often Millennials are entering the professional workforce for the first time. They may not have a lot of experience or knowledge about benefits. Offering employees access to a benefits expert who can help them make the best choices for their lifestyle can be very valuable.
Interaction and Collaboration: Millennials like to feel like they are part of something bigger than themselves.
Technology: Finally, Millennials want access to technology solutions that make using their benefits easier.
If you are looking to improve your employee benefits package to make sure you are attracting and retaining the best employees, consider working with a PEO like Helpside. We offer a variety of benefits options including multiple health plan options including HSA plans, voluntary benefits like life insurance, long term disability, dental, vision, 401(k), flexible spending and so much more. Our team to expert Benefits Specialists can help answer your employee’s benefits questions and make them feel confident in their benefits selections. Our technology solutions give employees access to benefits information online.
Helpside helps small businesses succeed by partnering to provide the resources, solutions and expertise required to win in an increasingly competitive market. Contact us for more information about how we can help.