|How To Make Millennials Want to Work for You
By: Cindy Wendland
Hiring great talent for your company can be challenging. Hiring adult Millennials (those aged 18 to 33) to fill those openings can be easier if you offer this benefit: Help paying off student loans. Millennials say they evaluate a job offer based on whether they can afford to make their loan payments, and whether the company will help.
Many Millennials are entering the workforce with an average of $28,000 in student loan debt. One differentiation companies can use to sweeten the pot when they extend job offers is to address the issue of student loans. Some companies are offering to pay the loans while others are providing a monthly benefit to be used to help pay the loans. Regardless of the method chosen, young employees are happy their problem is being addressed and companies are showing a caring attitude.
Millennials are concerned about their debt situation and feel uneasy. If a Millennial has two job offers and one offer includes help with loan repayment, guess which offer the Millennial will choose? It only makes sense. When companies look at their employee benefits, this is one that should be highly considered. For those companies who do take advantage of it right away, their brand will be strengthened. Don’t be one of those companies that waits until everyone else is offering it and you have to. Be one of those progressive companies that want to help Millennial employees. Then they will want to work for you.
Cindy Wendland has a background in marketing and finance. She is the creative director for an online men's health magazine, BrainBrawnBody.com, and she gets to write their leisure/travel blog. She is also a web designer helping her clients with online community engagement, websitesbywendland.com. Prior to her web years, she worked in pharmacy consulting.
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