To the surprise of many, millennials are concerned with something other than work-life balance and culture when searching for a job. Many millennials are particularly concerned with their retirement.
This insecurity stems from the anxiety that millennials possess regarding not retiring when they want to, or outliving their retirement savings. There are also more part-time employees in the millennial generation than any other generation in the workforce. This hinders their ability to put money towards retirement. Additionally, and most importantly, four out of ten millennial employees cited that eligibility requirements set by their employers are the reasons why they do not participate in the employer’s retirement plan. These requirements include working at that job for a minimum number of years, or a minimum number of hours.
To entice millennials to apply for your place of employment, consider how attractive your retirement plan is to a younger generation that is concerned that the old-fashioned retirement plan restrictions may not suit their lifestyle or plans for the future.