Employers must come up with different tactics to give recognition to Millennial employees
A recent survey shows that 79% of employees felt undervalued by their employer. Millennials in particular, those age 21-36, want feedback in real time. In fact, 80% of Millennials want positive or negative feedback immediately, rather than waiting for scheduled performance reviews. 65% of Millennials rated personal development as the most influential factor in their job. And you can’t develop personally or professionally without that much needed employer feedback.
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How Should Employers Show Millennial Employee Recognition?
As a demographic, we as Millennials don’t follow the traditional path of our parents of staying with a company for our entire lives. So longevity truly matters. Millennial employees want to feel like they matter to the company. This can be done in a small gesture such as an announcement of the anniversary with a short blurb and photo in a company wide e-mail. It can be done in a bigger way such as an office lunch for the anniversary with maybe a gift card.
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In today’s employment world, particularly with Millennials, it’s an achievement to be at an employer for an extended period of time – it saves the company money in recruiting, hiring and training and it gives the employee a feeling of value and contribution. Both of these reasons are truly cause for a celebration. If employers want to stay competitive and continue to attract top Millennial talent, they will need to implement new and unique ways to retain that talent. It’s a bold new world and employers need to quickly catch up.
Do you have any suggestions for employers to recognize Millennial employees? Tell us in the comments!