Gen Y Believes Training and Development is Most Important Employee Benefit

In case you didn’t know this as a current employer, the younger generation wants more than money.  They value the opportunity to learn and grow as employees.

A recent PricewaterhouseCoopers’ survey of over 1,200 CEO’s, and a separate article, revealed two very important pieces of information you should be aware of:

1. For Millennials, training and development is the most highly valued employee benefit. The number choosing training and development as their first choice of benefit is THREE times higher than those who chose cash bonuses. And 98 percent surveyed believe working with strong coaches and mentors is an important part of their development.

2. Over 66 percent of the CEO’s surveyed said their top priority is to develop leadership and their talent pipeline.

Why are these results important? Because smart companies know we’re facing a U.S. labor shortage of skilled and educated workers, due to Boomers retiring and other population and demographic shifts.

The competition for talent is going to be unprecedented…and companies will be hard-pressed to find good employees and retain them.

For more information, check out Lisa Orrell’s article at http://www.theorrellgroup.com/2011/08/08/new-study-reveals-gen-y-wants-training-over-bonuses.