Because benefits are often just as important to the new workforce as pay, offer more than just health insurance to attract top talent, says Nancye Combs, president and CEO of HR Enterprise, a human resources consulting firm in Louisville, KY, in Reduce HR Cost Pressure.
Health insurance is the bare minimum in today's labor market. “Without that, you become the employer of absolute last resort,” she says.
But career development programs and paid time off are other benefits many millennials seek. “Make sure you have modern benefits like PTO instead of vacation and sick time," says Combs. "Let them choose how they use their time off.”
The option for a nontraditional schedule is another perk that can set a company apart from the competition when it comes to hiring.
Read more about what benefits to provide and how to minimize the costs associated with them in Reduce HR Cost Pressure.
