Millennials nowadays are a strong workforce to reckon with. Compared to previous generations such as Baby Boomers and Generation X, Millennials are more dynamic and productive as they are the direct recipient of modern technology, including the internet.
Many companies today enjoy the productivity that millennials bring them. As a result, millennials, as an efficient workforce, receive favorable remuneration packages in order to keep them motivated. If you belong to this dynamic generation, you’ll surely be delighted with various benefits you may be offered these days. What are those?
Here are nine benefits that millennials will surely value:
1. Health Insurance
The cost of medicines, medical clinic visits and healthcare services these days is fast getting higher and higher. It helps a lot if you have a health insurance that can shoulder all the cost in case you get hospitalized. You never know whether you will get sick or not in the long run. This is why many young employees give value to health insurance.
2. Home Insurance
For millennials, home insurance quotes are the things that excite them. It is because they have learned the lesson of the past when the previous generations suffered much due to the housing crisis. Even, until now, there are still people who live in container vans. Therefore, any home insurance that will help them uplift their standard of living will surely motivate them.
3. Retirement Plan
The reason why you work is to prepare for your future. As a millennial, you are probably concerned about things such as pension plans. In fact, this benefit is what all workers ensure to have. There are a lot of retirement plans you can be offered to. Nevertheless, any retirement plan is a must have for you. All you have to do is to be consistent in your contributions.
4. Stock Option
Most big companies offer stock options to their employees. Who wouldn’t want this? Stock option is a privilege to own shares of stocks of your company so you can also earn from dividends and stock valuation. In other words, this is your chance to become a part owner of the company you are working for. With this, you are working for money, and your money will be working for you as well.
5. Vacation Packages
It is common for almost all companies to give their employees vacation credits such as a vacation leave period that you can also convert to cash if you want. However, not all companies offer vacation packages like package tours. Nonetheless, many companies offer company-sponsored team building programs in which all employees go on a trip together. This is one way to motivate their employees, especially the millennials.
6. Car Loans
For young employees it may be difficult to buy a car in an instant. With car loans, you won’t have to save money first before buying one. In an instant, you can buy your own car without affecting your cash flow. Everybody needs a car, and it’s a necessity at work. There are many companies that provide car loan benefits for their employees.
7. Travel Allowances
Whether you have a car, or you are using public transportation to go to work; travel allowances will help you a lot as you won’t need to shoulder the cost of traveling from your home to your workplace and back to your home. If you have a car, your company will pay for your gas expenses.
8. Performance Bonus
Almost all companies have to offer this benefit in order to keep their employees more productive. Since millennials are people who are competitive, they welcome any performance bonus package.
9. Salary Increase
This is the benefit that millennials value the most. A yearly salary increase system or package will surely motivate you to work harder and stay with your company longer. Actually, everybody loves this benefit.
Millennials deserve to get more benefits because of their high level of productivity and efficiency that all companies enjoy today. There are a lot more to look forward to, but the above benefits are what millennials value the most.