Companies that have not evaluated or refined their employee recognition and rewards programs in more than a couple of years might quickly find that those initiatives and investments are simply not relevant or effective at this stage in the game.
Companies that have not evaluated or refined their employee recognition and rewards programs in more than a couple of years might quickly find that those initiatives and investments are simply not relevant or effective at this stage in the game. The workforce has transformed rapidly, with baby boomers beginning to retire in higher numbers and millennials regularly stepping into more important roles in the workplace.
Triple Pundit recently analyzed some of the shifts that have taken place in various employee engagement-related activities among businesses, and affirmed that the influx of millennials has forced companies to take more novel approaches to these strategies. Citing a study from Gallup conducted about two years ago, the source noted that a majority of employees in the current workforce are not actively engaged in their jobs.
Although this might be a symptom of lackadaisical or absent strategies to get employees moving in the right direction, other aspects of general corporate management and strategy that tie back to brand image might be playing a more substantial role than many would believe. According to the news provider, sustainability is a perfect example of the new age of brand management for talent attraction and retention, as millennials tend to choose companies that are eco-friendly.
Speaking with the head of a sustainability-oriented organization, Triple Pundit explained that launching a sustainability initiative that gets all employees involved in a targeted effort can have profoundly positive impacts on retention, morale and engagement.
When it comes to recognition and rewards programs, millennials will generally demand much different types of options and setups than their older counterparts. Getting the facts about these preferences is key to formulate a sound strategy.
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