Virgin Pulse Survey Suggests that Businesses Should Prioritize Culture Over Perks to Attract, Retain Millennial Talent
Results find that 73 Percent of Millennials Seek Meaningful, Mission-Driven Work
Framingham, Mass. - (November 3, 2015)
New data released today by Virgin Pulse, the habits-focused well-being company, shows that millennials look for more out of their workplaces than just high salaries and good benefits. The report, “Misunderstood Millennials: How the Newest Workforce is Evolving Business,” and companion infographic, reveals that 73 percent of millennials seek meaningful work at an organization with a mission they support, and a remarkable 90 percent say they want to use their skills for good, suggesting that millennials seek workplaces with a culture of altruism that enable them to give back. Millennials also care about workplace culture, with 77 percent noting it is just as or more important than salary and benefits.
“Millennials are the fastest growing segment of the American workforce and they’re changing the way we work. Young workers are pushing employers to be more flexible, more creative, and more responsive to all of their people’s needs,” said Chris Boyce, CEO of Virgin Pulse. “The companies that will most successfully adapt to a changing workforce will be the ones that help all employees, not just millennials, find meaning in their work and provide flexibility that helps their people more easily balance professional and personal responsibilities.”
The traditional work-life balance that previous generations pursued is less of a priority for millennials, who want to better integrate professional responsibilities with their personal lives. Specifically, millennials look for more flexible and plugged-in ways to work, over being confined to traditional schedules or within the walls of a workplace. Flexible work hours are important to 80 percent of young workers, who rely heavily on technology to stay productive while away from work. Fifty percent of millennials say technology allows them to work from anywhere and 80 percent say technology allows them to more quickly complete tasks.
The survey also revealed a number of ways in which employers can motivate millennials and truly engage them. Retirement savings (88 percent), tuition reimbursement (64 percent), and well-being support (61 percent) ranked among the most important benefits beyond health and dental coverage and paid time off.
About Virgin Pulse
Virgin Pulse, part of Sir Richard Branson’s famed Virgin Group, replenishes employees with tools that help them build better habits. With its award-winning, online platform, the company cultivates daily habits and sustainable behavior change that help people thrive at work and across all aspects of life. Unlike narrowly-focused employee health and engagement solutions, Virgin Pulse creates more meaningful habits and drives greater utilization across HR investments, delivering a better quality of life for employees and better health, increased productivity, and improved culture for employers. More than 250 industry leaders representing more than 2 million employees have selected Virgin Pulse’s programs to replenish their people and ignite their business. Learn more at www.virginpulse.com.