Millennials, generally acknowledged to be those born between 1981 and 1999, have become the largest age group in today’s workforce. This is understandable since there are an estimated 92 million of them — the largest generation in our country’s history. They are unique in a number of ways. More than one-third of them continue to live at home with their parents. In fact, one recent study found that more of them live with their parents than with a spouse. In addition, fewer of them own a home than any similar age group in recent history. But it is not just homes that they don’t buy. They are also reluctant to buy cars. They are content to use Uber and be more a part of the sharing economy. In addition, over 90 percent of millennials use coupons for everyday purchases. However, consistent with their technology-driven lifestyle, they use digital coupons rather than paper.
In general, millennials' view of work is also different from what employers have traditionally experienced. Most have not held any job before or during college. While, like most others, they want interesting jobs with good pay and benefits, their priority is a work-life balance. Many critics of millennials view this as lacking a work ethic. Often, one of the first questions millennials ask in a job interview is how much time off they will receive and when it can be utilized. Many employers have vacation policies that permit new employees to accrue but not use vacation time until the completion of one year. To help address the time-off concern of millennials, and to help attract them in the first place, numerous employers have begun to adjust their vacation or paid-time off (PTO) policies to make at least a portion of accrued vacation days available in the first year of employment. Most include a six-month waiting period before such days can be used. Similarly, in the area of attractive benefits, employers are increasingly providing health club memberships as part of their health care plan.