meeting millennials’ expectations on salary and benefits

There is no denying that workplace demographics are shifting. There has been a significant amount of focus placed on millennials, as they are expected to assume leadership positions that come with extensive responsibilities very soon.

Millennials, also known as Generation Y and were born between 1981 and 1996, tend to look for employers that are known for their financial stability and attractive salary packages for not just income security but also to have the ability to attain a higher quality of life. A competitive salary would also impact their ability to accumulate wealth in the long run as most millennials are also starting to invest in real estate and financial markets.

However, while salary is always top-of-mind, it is also important for companies to not enter into a bidding war with their competitors. Employers should instead highlight the employee benefits that they offer, as well as attract talent to the exciting and innovative work they do. To a millennial, a job that offers diverse growth opportunities means that they will never get bored and that they can always continue to learn.

key highlights of the 2020 gen-y employer brand report:

retaining talent through robust career development and training programmes
creating work opportunities that are aligned with the Gen-Y’s purpose and values
employee benefits that will help drive work productivity

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