Recruiting and Retaining Millennials Starts with How they Get to Work
Since they began to exit colleges and enter the workforce in droves, millennials (roughly those born between 1980 and 2000) have attracted their fair share of intrigue. Ranging from frustration and confusion to excitement and enthusiasm, there has been no shortage of debate and activity surrounding the generation that will make up 75% of the American work force by 2025.
As millennials continue to replace retiring baby boomers, it’s more important than ever for companies to understand the specific needs and goals that the workforce of tomorrow holds. And while millennials certainly share characteristics of generations past, they also exhibit some unique qualities that pose new challenges for employers.
For one thing, millennials often leave college with an average of $25,000 in student loan debt — that’s an average monthly payment of $280. Because of that financial constraint, it’s important that employers offer ways for their younger employees to cut costs where possible and put more towards those burdensome loans.
Because of their average constrained income, millennials are often tailoring where they live and work to account for that extra expense. As such, many millennials prefer to live and work where they can drive less, use better and more efficient public transit, and find alternative modes of transportation.
Cities that offer efficient transit service and bike-friendly city planning practices seem to be where younger workers first gravitate, but let’s face it: we can’t all live in New York City or Chicago.
In metropolitan areas like the Triad region of North Carolina, employees typically spend more time in their cars than on public transit. And how that daily trek shakes out plays a large role in the decision to leave or stay in a job: 55% of employees choose their job based on the commute.
So how can businesses in the Triad recruit and retain this younger, transit-minded workforce?
If employers can ease the burden of a daily commute — even if it’s a few days a week — the generation who is not eager to spend their mornings and evenings stuck in a car they can’t afford might find it helpful. This can be achieved a number of ways, including a rideshare program that’s included as part of a company’s benefits package. If you’re able to secure alternative transportation options for your employees, it just might mean the difference between a year-long tenure and a decades-long relationship.
By reducing the amount of time your employees spend stuck in traffic every day or throwing money away at the gas pump, you’ll allow them to focus on what is most important and not get distracted by the daily financial burdens they face.
The PART’s “PARTnership” program is one such option. This free program is designed to be a resource for businesses across the Triad, helping them to tailor a custom solution that fits their unique needs and challenges. With vanpooling, carpooling and PART Express bus service, there are many ways the PARTnership program can ease the daily burden of commuting for employees.
To build your own customized rideshare program that expands your benefits package and helps retain and recruit the workforce of tomorrow, contact the PART Commuter Resources office today – www.partnc.org.com/partnership.