I once knew a CEO who was willing to drive to a distant airport and take flights with connections rather than a direct flight from the local airport just to save a couple hundred dollars. I could never understand why he placed so little value on his time.
Similarly, thinking about compensation as primarily a function of salary doesn’t give full value to what your employees are increasingly looking for. Our latest research, Debunking the millennial myth: Evolving perspectives on Canadian talent, highlights that talent is taking an increasingly nuanced look at compensation. Yes, they want to be fairly paid, but as you can see below, all else being equal, there are a number of things, like flexibility, for which a significant number would be willing to take less pay.
You don’t have to take my word for it, here’s what Mathew Stone, who lead the research had to say about it:
What do you think? Would you give up pay to receive more flexibility?
Let us know in the comments below, join the conversation online with the hashtag #MillennialMyth or better yet, join us at one of our upcoming events and join the conversation in person.