What? Flex time, yes. Working full-time from home, no.
Believe it or not Millennials desire to connect relationally more than any other generation. They tend to prefer virtually, but putting a Millennial at home takes him/her out of any opportunities for interacting face-to-face.
If Millennials are perceived as poor communicators, why would you want to make it worse by eliminating social situations?
Take it from an entrepreneur himself, working from home can get lonely. Instead of complaining about other co-workers not getting their work done, you can only vent alone (occasionally talk to yourself…at least I’ve heard). Lifestyle entrepreneurs desire solidarity and freedom, but it’s not for everyone. Traveling for vacation is much different than waking up at work.
Workplace culture has overtaken following your passion. Without a shared physical location it’s nearly impossible to create culture (unless you’re a 100% remote company). Millennials love to collaborate, therefore working in close proximity breeds socialization.
There’s a downturn in entrepreneurship of Millennials for the simple fact: it’s lonely (risky too). Millennials love to consume and that’s where the steady paycheck comes in. Companies offering career development programs shouldn’t worry about Millennials leaving. Your 20’s are a time of career exploration and companies can address this by providing long-term on-boarding programs (structured like an internship) comprised of: mentoring, cross-departmental training & soft-skills workshops. Do that and retention rates will skyrocket.
Stereotypes of any grouping are a place to start, but never the place to finish. Millennials get a bad rap on many issues (some deserving), but if you really understand their values and motivations you can focus on their potential and strengths.
Perks are meant to improve engagement which results in increased productivity. Don’t make the mistake of offering working from home to Millennials or else you’ll become a former employer soon.