A significant proportion of job descriptions aimed at younger individuals advertise private healthcare as a perk, new research has found.
The research, which was conducted by employee experience organisation Perkbox and talent matching platform TalentPool, found almost three in 10 (28%) job descriptions aimed at Millennials and people belonging to Generation Z, promote private healthcare as an employee benefit.
It’s a reality that suggests employers understand what younger professionals now look for in potential job opportunities, and highlights the high regard in which Millennials and Generation Z hold private healthcare.
For the research, Perkbox and TalentPool analysed 8,700 job descriptions targeting Millennials and Generation Z candidates in the UK over the past 12 months and surveyed 7,400 young professionals. They also found that 23% of job descriptions promote social events, like quiz nights and team board game sessions. A further 15% of job descriptions include team lunches, while 11% mention weekly drinks socials.
Many more traditional employee benefits get less coverage. For example, 7% of job descriptions promote a cycle-to-work scheme, only 4% promote season ticket loans and just 2% award a day off for an employee’s birthday. Not one job description analysed mentioned meditation as a benefit, while just 1% included yoga as a perk.
What drives workplace success?
According to the employees who were polled as part of the research, building strong interpersonal relationships is the number one factor for achieving workplace success (cited by 35% of respondents). Almost three in 10 (27%) said coming up with new, innovative ideas was crucial for workplace success, while 26% said working efficiently to hit targets is the key to success.
In terms of how working environments impact employees, 30% of respondents said they work best in workplaces where employees operate as individuals, but remain focused on achieving goals as a team. Another 28% said they work best where collaboration and building relationships are pivotal to success.
Speaking about the findings of the research, Andrew Lavelle, co-founder of TalentPool, said: “There is an increasing competition for talent across [organisations] of all shapes and sizes. Employers are offering more than just traditional benefits to stand out in the market today; not only to attract but also to retain the best talent.”
We’ve previously written about the important role employee benefits play when it comes to levelling the playing field in the competition for talent. The bottom line is employees love benefits and the fact private healthcare as a perk is being used to attract Millennials and Generation Z shows that employers are responding to the wants/needs of potential recruits in a bid to attract them.
With mental health problems so common among employees, it’s important that every workplace – no matter the size – makes staff wellbeing a priority. Are employers missing the opportunity to secure the best talent by not promoting this very important employee benefit?
We are seeing an increase in Private Healthcare as a benefit, especially targeting those in the millennial and generation Z age range.
A highly motivated result’s driven individual with a wealth of experience in the Healthcare & Group Risk market. I have established strong relationships with large multinational clients through excellent interpersonal skills. I have advanced listening, negotiating & influencing skills that allow me succeed in a team based environment. I have comprehensive knowledge of the UK Healthcare & Group Risk market. This knowledge has been obtained through the Chartered Insurance Institute & self study.