Let’s talk Millennials - a hot topic in the business world, largely because employers from older generations can’t seem to figure them out: 86% of millennials have no qualms over job hopping, and 99% plan to stay at a job for less than three years (while most Baby Boomers think they should be at a job for half a decade before looking at other jobs). To boot, millennials are the largest generation in the U.S. workforce today. This leaves many a boss asking, what is it that they want?
86% of millennials have no qualms over job hopping
So when Fortune recently released their 2015 list of 100 Best Workplaces for Millennials (and the usual suspects didn’t top the list), our interest was piqued. In partnership with consultancy Great Place to Work, Fortune analyzed data from thousands of employees at more than 450 companies—telling us a lot about what millennials want when it comes to office culture. And since Blueboard is all about helping organizations offer their employees the best culture possible, we’ve taken the time to summarize and share what these businesses are doing to keep their millennial workers so happy (with a little help from Glassdoor).
Power Home Remodeling Group
This construction and real estate company helps residents with green exterior remodeling across the country—and millennials make up a whopping 84% of their workforce. Employees who left reviews on Glassdoor were most happy with the free company Christmas trip to Mexico (to which all employees and their significant others are welcome), as well as outings to full open bars, a strong sense of camaraderie with their co-workers, and a lot of opportunity for career advancement. (A recent study from Delloite found that more than six out of ten millennials feel their leadership skills aren’t being fully developed, which keeps them from staying with a company.)
Power Home isn’t alone when it comes to paid trips: Yelp (which also made the list, at #41) offers their best salespeople an all-expenses paid trip to a beach resort. Perhaps this kind of employee reward-based perk is so effective because millennials crave appreciation—“employee performance recognition” and “fun” rank high in their workplace happiness matrix.
David Weekley Homes
One of the largest private builders of single-family homes in the U.S., this company may not be as glamorous as, say, Uber—but employees beg to differ, including the 27% of its millennial workforce. Good work-life balance and a host of professional development opportunities were the most mentioned in reviews, with fun, frequent company parties, and an excellent benefits package as close runners-up.
The professional development perks that David Weekley Homes offers is right on target with what millennials seek: Glassdoor says 60% of millennials find growth opportunities the number one most attractive perk, and 46% had left a job due to lack of career growth.
Insurance company Acuity Mutual has to compete with big names like State Farm, so attracting and retaining the best is crucial to their success. With 100% employee approval of the CEO, they must be doing something right for the 32% of its millennial employees.
According to reviews, Acuity offers “more little fun perks than anywhere else”. Those perks include a massage center, flexible work hours, a big holiday party and gift basket, and free meals (among other benefits). Even though a few employees said the pay was below market (Acuity programmers on Glassdoor make a little over $60,000), everyone seems to be happy. No surprise, since the majority of millennials would rather make $40K at a job they love than $100K at a job they hate. Flex time is also a big hit with millennials; 83% feel more motivated when they have the power to choose when and where they want to work.
They would rather make $40K at a job they love than $100K at a job they hate
Think millennials love your company? Apply to take the survey for next year’s round up here. And if you’d like to learn more about Blueboard’s offering of experiential employee rewards (which 78% of millennials prefer over material gifts), reach out on Blueboard.com.