Did you know millennials are motivated differently at work than other generational groups? According to a recent survey by Perkbox, highlighted on Bloomberg.com, millennials see perks like gift cards and other items as essential to their workplace happiness. They expect these perks to be part of their workplace experience, as opposed to older generations who view gift cards and other goodies as a bonus.
Overall, the Perkbox survey of 1000 British workers found that 69% of workers tied workplace satisfaction to the perks and benefits they could receive.
Not only are workplace rewards essential in keeping employees happy, it’s a tool employers can use to recruit top talent. As the job market tightens, top prospects will weigh multiple factors when deciding which job-offer among several to take. Aside from pay and benefits, prospects will look at the workplace environment and part of that equation for younger generations are workplace perks.
Turnover and absenteeism generate big labor costs for any sized company. Employers and managers showing their employees they care, that they recognize a job well done, is critical for building loyalty and retaining talent. Employees will give back to those they think appreciate their efforts. If you want employees to go above and beyond, that work needs to be recognized.
With Reward Geek, we make integrating an employee recognition program easy and and dispersing workplace rewards fast. Log in, pull up that employee, and send them points for a job well-done that they can use to buy gift cards, money-can’t-buy experiences like a day off, or any other prize your company can imagine. When it comes to millennials, a platform like Reward Geek is key to hiring the best employees and keeping them happy. For older generations, they’ll see the prizes you offer through Reward Geek as a much appreciated bonus. You build morale, cut turnover, and lower your labor costs, all with the click of a few buttons.