24
Jan

A recent poll finds that many recent graduates places less importance on cash bonuses and more on training, advancement and other employee benefits.

The survey polled more than 4,000 recent graduates in 75 different countries to review their attitudes on work. Of those respondents, more than 70 percent said they had compromised something in order to get a job.

However, 22 percent said that further training was their most valued benefit, with 19 percent citing flexible work hours and 14 percent saying cash bonuses were the most important benefit.

"Millennials want more than 'just a job'. They expect rapid progression, a varied and interesting career and constant feedback," said benefits expert Jon Andrews. "There are significant implications for employers as they need to adapt to ensure they remain attractive to this new workforce."

The survey also shows clear issues with retention for some firms, which could increase costs. Just 18 percent saw themselves staying in their current role in a long-term capacity.

Numerous studies have shown that it is generally more cost-effective to retrain a current employee who is performing well than to train a replacement.