It is no surprise that the conventional HR policies do not attract the millennials. Having a completely different approach to work, millennials come with specific expectations they seek their employers to fulfill. Working with millennials for a long time, we have understood that rigid policies are not the best tools to attract and retain them. On the basis of our personal experience, as well as looking at other startups around us, we know one thing for sure, leave policy at most organizations is not ready for millennials.
Wondering how we arrived at that conclusion? Well, simply because, millennials look for specific benefits in their leave policy. Let’s have a look at what are those-
Leave Sharing/ Leave Pooling
If there’s one thing millennials stand for is their spirit of collaboration. And this is not limited to the work they do. Invariably, millennials are demanding leave sharing or leave pooling option as a part of the leave policy. The idea is quite simple. Millennials are demanding the flexibility to transfer their pending leaves to coworkers in need. Most organizations today do not have this option available. However, this is becoming an increasingly sought after practice among millennials. Taking the saying “A friend in need is a friend indeed”, seriously, millennials are making their workplaces thrive on passion, relationship building and collaborations beyond projects. And a change in the leave policy to foster such collaborations can be your contribution.
All Purpose Leaves
Do you remember the days when organizations had tags on the leaves of employees. For instance, 10 casual leaves, 10 sick leaves, etc. Well, if your leave policy still follow this trend, then you are extinct for millennials. They dislike caging their leaves to rigid terms. Millennials believe that so long as they are not misusing the leaves, and utilizing only the ones they are allotted, there is absolutely no need to identify one leave as casual and the other as such. Again, millennials do not wish to imply that they will not justify the purpose of the leaves. The idea simply is to not box the leaves with unnecessary tags.
Paid Vacation Days
No, we are not joking. Most organizations believe that the leave policy should cater to only leaves that are somewhat urgent. However, startups are today beginning to offer unlimited leaves to their employees. This leave policy initiative is also close to our hearts as we follow the same. At Recro, we believe that each member of the team deserves the time to recuperate and revive their energy.
Therefore, we have an unlimited leave policy. So long as you have taken the permission from your senior and ensured that all your work will be taken care of in your absence, you don’t have to think twice about asking for a leave. Trust us, the millennials in our team quote this as one of the reasons for being a part of Recro. To top it all, it’s not like they take a leave every second day. In fact, instances in some startups have shown that with a leave policy offering unlimited vacation days, employees actually take less days off.
Leave or Work From Home?
While remote working is becoming a norm in the current day and age, some organizations still have a dinosaur age leave policy. They consider working from home as a leave and penalize the employee for it. It is understandable for organizations where employees have fixed stations and remote working is not an option. However, today, at least in the startup world, most of the work happens on the go. Therefore, if you do not offer the flexibility of working from home, you might lose out on the millennial talent. Offering the flexibility to work remotely, has been a blessing for us to retain our millennial talent.
Child Care Leave Policy
For millennials, the division of labour on the basis of gender does not exist. They strongly believe that child care is a responsibility of both the parents. Thus, millennials are increasingly going for organizations that offer a leave policy with child care leave for both the partners. In fact, millennials are very particular that there is an alignment between maternity and paternity leave. Organizations can no longer brush of the paternity leave with only 15 days or so. If you are planning to recruit, and more importantly, retain millennial employees, it might be time to update your leave policy. In fact, Zomato recently announced 26 week paternity leave for new fathers as a part of their leave policy, in addition to the same maternity leave.
To cut a long story short, these are some practices that your organization must adopt to make your leave policy ready for millennials. What attracts millennials is a bit of flexibility in approach and the ability to forge collaborations beyond professional projects. Thus, each aspect of your operations should work towards the same, which includes your leave policy. At Recro, we understand the needs of millennials and therefore, our leave policy, may not be perfect, but is an answer to the millennials needs. So if you want to work with a leave policy like ours, join us today!