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Recruit More Millennials by Offering This One Big Perk

You can attract and retain more millennials by easing their college debt.

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Opinions expressed by Entrepreneur contributors are their own.

Young adults today, as a group, have it tougher than previous generations did when starting out. The burden of student loans is one big difference between the baby boomers and later generations. It creates anxiety for these newer employees, and it leads them to delay building wealth, buying a home and saving for retirement.

Here’s a thought: Help these men and women out. Companies have come up with a variety of potential solutions, including bonuses directed at student loan payments or making saving in other areas, such as 401(k)s, more attractive.

It’s not charity that I’m talking about. It’s a recruitment and retainment tool.

The companies that incentivize those employees by recognizing the challenges they face are going to do a better job of maintaining a happy, long-lasting workforce.

Scott Wylie

Written By

Entrepreneur Leadership Network Contributor

Scott Wylie co-founded First Western in 2002 after recognizing the need for an integrated approach for delivering financial services to the growing affluent market. As chairman and CEO of First Western, Wylie provides leadership for the holding company, as well as management of the bank and trust services. Most recently, he served as chairman and CEO of Northern Trust Bank of Colorado after having sold his prior institution, Trust Bank of Colorado, to Northern in 1998.