Employee rewards programs can foster higher engagement levels by giving workers extra incentive to reach for their goals and validating them in their successes.
Employee rewards programs can foster higher engagement levels by giving workers extra incentive to reach for their goals and validating them in their successes. This type of strategy might be particularly important for millennials, who are quickly assuming a significant portion of the workforce. Here are a few reasons why engaging the millennial generation is proving to be an extremely important business strategy:
- They're more mobile than other generations. Christopher Mulligan, TalentKeepers CEO, told Benefitspro that millennials tend to jump from job to job more frequently than other workers, which could potentially worsen employee turnover problems for companies. Retaining talented workers is critical because replacing staff members can be costly and time consuming.
- They've been focusing on flexible career skills. On a related note, the source explained that because their parents faced a period full of layoffs, millennials learned to develop talents that could be applicable to a variety of jobs. This makes them valuable workers, but it also means that they don't necessarily think in terms of a single career path – many plan on filling multiple roles throughout their lives.
- They're opinionated. According to the source, millennials have strong preferences about work conditions and arrangements. To unlock their potential, managers need to learn what makes them tick.