Drawing from person‐organization (P‐O) fit theory, we explain how the provision of work‐life benefits (WLBs) increases job seeker attraction to organizations during the early recruitment stage because of a perceived value fit between job seekers and the organization. Our results from an experimental study using a sample of 189 MBA students who belonged to two generational groups (Millennials and Gen Xers) and were seeking employment during a period of economic recession support our expectations. We found that job seekers develop higher P‐O fit perceptions for organizations that supplement standard pay with WLBs in their recruitment materials compared with organizations that supplement standard pay with health care benefits or offer only standard pay. In turn, such organizations are assessed as more attractive prospective employers. We also found that generational group moderated the path between P‐O fit and job seeker attraction such that Millennial job seekers were more likely to be attracted toward organizations with which they had strong fit perceptions than their Gen X counterparts. Theoretical and practical implications of our findings are discussed.