4 Tips on How to Choose a Rewards Platform to Keep Millennials Engaged

During the recent years, the unemployment rate in the UK has been hovering around 7.09%. In February 1984, Office for National Statistics UK reported that this number fell to 12%, an all time low. People between the ages of 16 to 64 were left unemployed for quite some time. In 2011, the unemployment rate was 8.3%. However, things took a turn for the better in the start of 2017 and this rate fell to 4.5%. Since then, the unemployment rate has fallen further to 4.3% and has remained steady for three months. This is a small decline but an achievement nonetheless, which shows that millennials are still actively seeking jobs.

While millennials are currently what the business industry needs, they have been under appreciated for quite some time. The lack of motivation and engagement has made them lazy and uninterested in their job. If you want them to be in their element, you need to pump up their motors, in order to show them that they are valued and a vital part of the organisation. For this, managers need to devise an employee recognition platform that provides them instant gratification. This program will allow them to reward their employees on their outstanding achievements. The incentives provided, will give them the motivation to achieve more.

Following are four tips that mentors can use to motivate millennial employees at workplace:

1.     Create a Flexible Environment

At the start of their career, millennials are more concerned with maintaining a steady work pace rather than achieving more. At first, it’s about working fewer hours to maintain a balance between personal and professional life. If they are unable to do that, they will look for employment elsewhere. According to a study, millennials are ready to sacrifice their pay for more vacation time. Managers should take this into notice and allow them to slowly bloom in their area, provided that the quality of work is not affected. They can be rewarded once a month with a paid day off, where the incentive can be a movie or free house cleaning.

2.     Healthy Business = Healthy Mind + Healthy Body

Millennials are very much concerned about how they look. While a gym membership and opening a gym in the office are all good ideas, why not give it a twist. As a reward, send them on an adventure trip. This can be either physical or mental such as hiking trips or a gaming convention. The extra activity will boost their brain power and help them come up with creative and innovative ideas at workplace.

3.     Bite Size is the Right Size

Millennials are capable of multi-tasking, so why not bank on this quality? If the right information is provided to them, they can do wonders in their job. For a job well done, why not give them access to information that will help them achieve more, and groom them to become leaders. The extra attention will make them realise that you see them as an asset.

4.     Personal Recognition

Millennials are known as the generation that’s highly self-centred. While appraising them in front of the staff will make them happy, they still need more satisfaction. For personal recognition, you can opt for a “gift program” that offers them great discounts at restaurants, travel outlets, entertainment centers and popular local stores. This will show them that you value individuality.

An employee reward program can be customised according to a mentor’s demand. They have worked with the employees and know more about them than anyone else in the organisation. As mentioned earlier, millennials need to be constantly engaged and with these tips, you can empower them give them a battle of wits and power that will benefit them and the company.

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Alison

Finance Blogger at Payday Jester
I have a passion for all things finance and business so if I can help you in anyway then please get in touch and if you have any comments or feedback please leave a message.

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