June 14, 2016
Blackhawk Engagement Solutions Millennials Research Featured in “Inc. Magazine”
In August of last year, Blackhawk Engagement Solutions published data examining what makes millennial employees happy and more productive. The research was recently featured in an Inc. Magazine article, 6 Really Dumb Moves: What Managers Should Never Do to Millennial Employees.
According to Rodney Mason, GVP of Marketing at Blackhawk Engagement Solutions, “Millennials are accustomed to attention and praise from their earliest days, and expect regular affirmation in the workplace. They are also prepared to switch jobs earlier and more frequently than previous generations, so employers need to take particular steps to maintain millennial engagement.”
Key findings from the research include::
- Millennials maintain work/life balance: All employees ranked “job” in the bottom half of 12 factors that contribute to their happiness; millennials ranked it almost last. As work/life balance continues to exert its influence, millennials rank job behind family, friends, hobbies, music, food and drink and even pets.
- Millennials are happy and comfortable at work—except with rewards and recognition: Employers may expect millennials to have a long list of what’s not measuring up in the workplace, yet the opposite is true. Millennials are engaged at their jobs, with the majority having a clear understanding of what is expected of them, opportunities to learn and bosses who seem to care about them.
- Affirmation is key to millennials’ happiness: Millennials expect and respond to personal attention. Sixty-four percent of millennials would prefer to be recognized for a personal accomplishment, as opposed to a team accomplishment. They also prefer recognition directly from a manager or via acompanywide announcement, versus peer-to- peer.
- Many millennials are not eligible for rewards: Even when rewards and recognition are part of the company culture, sizeable portions of the millennial workforce are not eligible to receive them. Safety rewards are not available to 82 percent of millennials; spot rewards aren’t given to 67 percent; and wellness rewards are not available to 48 percent.
- A reward is less valuable without recognition: Even when millennials do receive rewards at work, they’re not necessarily the kind they want. Forty-three percent of millennials who receive some type of reward don’t receive recognition rewards.
- Prepaid cards satisfy millennials’ needs for instant gratification: Millennials appreciate vast choice and instant gratification, making reward selection convenient for employers. Prepaid cards meet both needs, and are overwhelmingly preferred by millennials and other employees alike. A staggering 91 percent of millennials said if they were to earn a reward worth $100, they would want it in the form of a prepaid card versus a reward that could be redeemed online from select merchants or credit for a reward catalog.
To read the complete findings, visit here.