STRIKING THE RIGHT BALANCE: MILLENNIALS' WORK-LIFE PREFERENCES ANALYZED

Abstract

As millennials, born between 1980 and 1995, increasingly dominate the workforce, companies must adapt to their unique needs and preferences (Thompson & Gregory, 2012). Understanding and catering to this generation is crucial for organizations striving to attract top talent. Failing to align with the values of millennials, also known as Generation Y, could result in a significant loss of potential resources and opportunities. It is paramount for companies to recognize that while millennials are industrious, they place a higher premium on leisure time compared to previous generations (Meriac, J. P., Woehr, D. J., & Banister, C., 2010; Becton, J. B., Walker, H. J., & Jones-Farmer, A., 2014). Forward-thinking organizations must invest effort in comprehending this generation to ensure sustained success. Millennials place a considerable emphasis on incentives and benefits offered by a company, distinguishing them from their predecessors (Bristow, Amyx, Castleberry & Cochran, 2011). Policies promoting work-life balance not only reduce turnover but also enhance overall mental well-being of employees (Jang, Park, & Zippay, 2011). Although job advancement significantly impacts job satisfaction and loyalty, this aspect has yet to be thoroughly examined in the context of millennials. Similar to work-life balance, job advancement plays a pivotal role in mitigating turnover rates in the corporate landscape. This paper delves into the pivotal considerations for millennials regarding job benefits and perks. The study's aim is to elucidate the critical factors for Generation Y concerning work-life balance and job progression within the professional realm