MENUMENU
  • About Us
  • Business Insurance
        • General Liability Insurance
        • Workers' Compensation Insurance
        • Commercial Property Insurance
        • Errors & Omissions Insurance
        • Cyber Liability Insurance
        • Hired and Non-Owned Auto Liability For Small Business
        • Directors & Officers Insurance For Small Business
        • Key Person Insurance For Small Businesses
        • License Bonds For Small Businesses
        • Fidelity And Surety Bonds For Small Businesses
        • Employment Practices Liability Insurance For Small Businesses
        • Excess Liability (Umbrella) Insurance For Small Business
        • Professional Liability Insurance For Small Business
        • Media Liability Insurance For Small Businesses
        • Commercial Auto Insurance
        • VIEW ALL
  • Employee Benefits
        • Group Health Insurance
        • Group Dental Insurance
        • Group Vision Insurance
        • Group Life Insurance
        • Group Short-Term Disability
        • Group Long-Term Disability
        • VIEW ALL
  • Who We Insure
  • Resources
  • Blog
Get A Quote
Log In
Get A Quote
Log In
888-242-4675
MENUMENU
  • About Us
  • Business Insurance
        • General Liability Insurance
        • Workers' Compensation Insurance
        • Commercial Property Insurance
        • Errors & Omissions Insurance
        • Cyber Liability Insurance
        • Hired and Non-Owned Auto Liability For Small Business
        • Directors & Officers Insurance For Small Business
        • Key Person Insurance For Small Businesses
        • License Bonds For Small Businesses
        • Fidelity And Surety Bonds For Small Businesses
        • Employment Practices Liability Insurance For Small Businesses
        • Excess Liability (Umbrella) Insurance For Small Business
        • Professional Liability Insurance For Small Business
        • Media Liability Insurance For Small Businesses
        • Commercial Auto Insurance
        • VIEW ALL
  • Employee Benefits
        • Group Health Insurance
        • Group Dental Insurance
        • Group Vision Insurance
        • Group Life Insurance
        • Group Short-Term Disability
        • Group Long-Term Disability
        • VIEW ALL
  • Who We Insure
  • Resources
  • Blog
  • InsureYourCompany.com
  • Blog
  • business owner responsibilities
  • Millennials In The Workplace: 5 Things Every Business Owner Should Know

Millennials In The Workplace: 5 Things Every Business Owner Should Know

Dan Levenson October 06, 2016

Millennials In The Workplace: 5 Things Every Business Owner Should Know
business owner responsibilities Company Health Insurance Employee Benefits Employee Relations Employers' Guide to Health Insurance Hiring and Firing Office Management

Let’s face it: The millennial workforce is a whole new species of employee.

Gone are the die-hard workhorses that will clock in for decades without complaint or compromise. Millennial employees worry about the Big Picture: their quality of life, their health, time with their families, and being treated fairly for their hours and energy.

This isn’t a true first in the workforce, but it is now a majority that demands the attention of small businesses owners.

Employers and Employees Are More Equal Than Ever Before

Since the Depression, the mighty dollar has steered everyone in our society to the point that they would tolerate a lot just to have that paycheck.

In today’s industry, however, you need employees just as much as they need the job you’re offering. Employees have more options than ever and they will walk away if they don’t feel appreciated and taken seriously.

This means a need for compromise and communication in the workplace.

Quality vs. Quantity

The millennial workforce is willing to work hard for you, but they want realistic expectations and a flexible environment. Not every employee needs or wants eight hours to complete whatever tasks they are responsible for. They refuse micro-management or lack of individual attention and evaluation.

Quality employees provide you with better output, improved client relations, and product reviews. The modern worker knows their worth and knows they shouldn’t necessarily have to perform during the daytime, weekdays, or for a set period of time.

If you make a future for them, they will make a place for your company in their future.

Health and Wellness

Millennials in the workplace are far less likely to sacrifice rest and comfort to please you, their employer. They want health insurance that goes above and beyond and allows for more than just traditional options and remedies. Vacation and personal days are mandatory in their expectations of a quality life. They want breaks and comfortable break areas. Many are even looking for company fitness rooms, discounted memberships, or other wellness programs.

This expectation also extends to their families in corporate environments. The joint expectation and desired outcome is that healthier employees are efficient and energetic, requiring fewer sick days and actually using their health insurance less. In the long run, employees last longer and make long-term commitments to your company, your goals and your expectations.

Personal Time

Employment is no longer the most important aspect in the lives of millennial workers. Children and spouses and holiday dinners now take priority over seminars and deadlines. No amount of overtime is worth relinquishing their weekends running marathons or their evenings at book club. Requiring their spare time is simply not accepted as it once was.

There is a new awareness in our society about the benefits of relaxation and physical activity outside of work that results in better employees in the long-term, less turnover, and lower costs.

Fair Wages and Working Conditions

Obviously our labor laws have come a long way since a time when people were basically abused at work, but even basic safe conditions have come under scrutiny.

Millennials in the workplace are not interested in just the bare essentials. They want comfort and cool air, chairs that don’t strain their back and floors that don’t hurt their feet. You might have to consider specialized footwear and office equipment depending on your industry.

In some cases, you may consider major building renovations if you want to stay competitive.

It isn’t all a one-sided playing field with you making all the concessions. The employees worth all of this investment are top-notch. Their commitment to better work in less time, fewer mistakes, and ultimate loyalty are their currency to bargain with. Watch your relationship evolve to a true team environment where everyone has the same risk, the same losses, and the same potential for gain.

The Employer's Guide To Group Health Insurance

Need business insurance?

Get a free business insurance quote today!

Subscribe To Our Blog

  • Stay up to date with the latest insurance news and business advice from InsureYourCompany.com!

Business Insurance

  • General Liability Insurance
  • Workers’ Compensation Insurance
  • Errors & Omissions Insurance
  • Excess Liability Insurance

Employee Benefits

  • Group Health Insurance
  • Group Dental Insurance
  • Group Vision Insurance
  • Group Life Insurance

Business Insurance

  • General Liability Insurance
  • Workers’ Compensation Insurance
  • Errors & Omissions Insurance
  • Excess Liability Insurance

Employee Benefits

  • Group Health Insurance
  • Group Dental Insurance
  • Group Vision Insurance
  • Group Life Insurance

Small Business Resources

  • Business Insurance Blog
  • Get a Free Insurance Quote
  • Schedule an Assessment
  • Insurance for Businesses 101

InsureYourCompany.com

225 Gordon’s Corner Road, Suite 1H
Manalapan, New Jersey 07726
888-242-4675
Privacy Policy | HIPAA Policy

Copyright © 2021 - InsureYourCompany.com, powered by Technology Insurance Associates LLC

Custom website design and development powered by the New Possibilities Group.

888-242-4675
Get a free quote