The impact of the millennial population is being felt in the workplace, reshaping many operational areas, including employee benefits. This year, the millennial generation is expected to become the largest living adult generation, overtaking baby boomers. This generational shift is reflected in the demographics of the U.S. workplace, where more than one in three employees (35 percent) are millennials, making them the largest generation in the U.S. labor force, according to a Pew Research Center analysis of U.S. Census Bureau data.
As a result of this shift, companies are finding they need to adapt their employee benefits to attract top millennial talent and to meet the needs of this growing workplace demographic.
Paid time off
One of the ways businesses can reach this demographic is by looking at offering paid time off (PTO) benefits that stand out from other companies. This could be in the form of half-day Fridays that allow employees to leave every other Friday, providing extra time off and promoting the work-life balance millennials value.
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