Report: Younger workers forcing employers to rethink perks

Companies are feeling the squeeze to attract and retain emerging generations. It’s causing some to overhaul benefits schemes, rejigger hierarchies and even consider installing ‘nap pods.’

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You took what was available, and you’d happily eat the same meal every day for 40 years—if you could stick around that long. Today, the business landscape more closely resembles a massive buffet, overflowing with options and possibilities. The abundance of choices is forcing organizations to adapt.

A survey from ReportLinker serves up a heap of statistics that highlight how employers are scrambling to attract and retain talent in this era of job hopping, career advancement and entrepreneurship. Workers ages 25–34 now have a median job tenure of just 2.8 years.

Older workers tend to be more committed to their current employer, the survey confirmed, but companies are attempting new strategies to increase loyalty. To boost morale, engagement and retention, companies are “providing more opportunities for professional growth, offering a wider range of perks, and making a stronger commitment to improving work-life balance,” ReportLinker says.

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