The majority of young workers don’t consider employee perks and benefits when looking for jobs, as they are more interested in peer recognition and general job satisfaction.
Over half (57%) of millennials say they are not interested in job perks when looking for employment, but instead want to feel valued and content in their place of work, according to a study by Direct365.
Despite the fact that extreme employee incentives are as popular as ever, with Google offering employees nap-time and Netflix’s free holiday schemes, the research found that workers tend to look for peer recognition and flexible working hours.
The survey showed that only 40% of 18 to 24-year-olds claim they are interested in job perks.
On the other hand, an overwhelming 70% of 35-44 year olds do take them into consideration when on the job hunt, showing a huge gap between the two generations.
This correlates well with findings from the Institute of Leadership & Management (ILM), which found that 17% of the 2,000 people surveyed said they were looking for a new career due to feeling under appreciated.
The ILM study found that lack of progression is the number one reason for people wanting to move on, with just over a quarter citing it as their main reason.
Echoing this, a 2015 employee satisfaction report claims that only 31% of workers feel strongly valued, revealing a widespread discontent in the workplace.
Phil Turner, head of digital at Direct365 said that extreme incentives may work for the short-term, but workers have begun to look for more useful, applicable solutions.
He added: “The problem with a lot of job perks are that the companies offering them don’t take into consideration what the employee could really use.
“Fun incentives may look great on paper, but the reality is very different and companies should be working to give staff what they genuinely want. Perks that make your working day a little easier will always be attractive – not to mention peer recognition, appraisals and real career progression. These are priceless.”