According to the US Bureau of Labor Statistics, Generation X and Y will constitute 57% of the workforce by 2011. These generations have seen the median length of job tenure fall from 9.2 years in 1983 to 4.1 years in 2008 for workers age 16 and older.
The days where employee recognition is shown through service award catalogues, gold watches, plaques and lapel pins are long gone. Today, Generations X and Y expect organizations to be outstandingly creative in recognizing their talent in ways they themselves value.
A Gallup poll of over a million managers and employees discovered that recognition matters to these younger generations. They’re motivated by many different forms of recognition; they need positive feedback every 7 days; and they want the ability to choose their own reward.
It’s crucial for organizations to stay abreast of advancements in the kinds of recognition Gen X and Gen Y employees expect and motivate them in order to be able to attract, retain and encourage their best performance.
Allow Loyaltyworks to share how our RewardTrax platform can incorporate the Gen X and Y recognition trends into your organizations culture. To get details on our New Year’s zero set up and no monthly maintenance offer, schedule a free consultation or web demo by contacting me at email@example.com or 678-514-0219. Feel free to view a short flash demo by clicking “Here To Play Now”.