Generation Y demand more perks

18/11/2008

People born after 1982 expect more employee benefits than their older counterparts, according to a new study.

Research from FreshMinds Talent shows that 28% of Generation Y think discounted or free gym membership is important, compared to just 13% of older age groups. Similarly, some 50% of Generation Y believe sabbaticals are important, compared with 45% of Generation X and 29% of Baby Boomers.

Some 68% of Generation Y say a contributory pension scheme is the most important job benefit, with a further 68% saying flexible working hours are key in choosing their job.

The survey also suggests that Generation Y staff value salary over corporate social responsibility.

James Callander, managing director of FreshMinds Talent, said: “There is a lot of speculation about how Generation Y differ from earlier generations, particularly in terms of how they relate to the working environment.

“Our research aimed to draw out both how the younger generation differs and where their attitudes are the same as their older peers. This is critical if employers are going to understand what is required to engage this group of people that represent the future of their businesses.”

The research suggests Generation Y are ambivalent to the role of the company, with 40% believing the organisation makes no real impact on helping them get their job done. These figures grow much less marked in older employees, indicating a significant shift in perceptions of the company and the individual over the past 30 years.