Millennials have the power to change the world — and your workplace — and the technology to document every step of their journey. Understanding what drives them and harnessing their idealism can be challenging, but doing so will help your company grow in meaningful, productive ways.
The team at Docherty Incentives & Meetings has over 30 years of experience working with everyone from Baby Boomers to Gen Xers to Millennials, and we have innovative ideas for rewarding employees for their commitment. In fact, by recognizing Millennials’ important contributions with reward trips, you may inspire them to defy their generational habits and stay with your company for years to come.
The US Bureau of Labor Statistics predicts that Millennials will make up about 75% of the workforce by 2030. With this statistic in mind, knowing who Millennials are and how they work is critical for your company to not only thrive, but also to survive.
Millennials are the generation born between 1982 and 2002, so they are the first generation to grow up with technology as part of their everyday lives. They are also the generation to be rewarded simply for participating in an activity. The prevalence of social media combined with their confidence in the value of their ideas means that, in the workplace, they expect transparency, collaboration and praise.
This generation is also the most educated one in history, but these job seekers are having a hard time achieving financial independence and finding work that matches their level of education. Give Millennials opportunities where they feel their ideas are valued and they can use their education, and they will reward your company with creative ideas and loyalty. This generation also values managers who are friendly, so establishing a rapport with younger employees will encourage them to tackle even the most challenging tasks with their boundless energy.
Unlike previous generations, Millennials don’t just want a job; they want a meaningful career where they feel they are making a difference. While they use social media to post “selfies,” they also support and promote selfless companies that focus on causes. At Docherty Incentives & Meetings, we contribute our time and money to charities, so we understand how rewarding it is to give back to our community and can find opportunities for your employees to incorporate community service into their reward travel.
In addition to wanting to make a positive impact, Millennials are eager to learn new skills, so reward travel that includes opportunities for personal growth, such as cooking classes or a yoga retreat, may appeal to employees in their 20s and 30s. This type of reward travel can help young employees reach their full potential and come back to work informed and enriched. Instead of lugging home a bag full of souvenirs, this generation values experiences over material goods.
Millennials are also drawn to unique experiences, so sending them on a cruise their parents would take (or have taken) will not inspire their enthusiasm at work. If, however, you send them on a cruise that has a retro theme, such as Star Wars or 1980s movies, you can show you understand how much they value novelty. An increasing number of Millennials are having a difficult time becoming financially independent and, as a result, are moving back in with their parents, so acknowledging outstanding job performance with reward travel may give them (and their parents) a much-needed break. Invest in the Millennials at your company, and you’ll reap the rewards of their creativity and loyalty for years to come.
Thanking your employees for a job well done and acknowledging the positive contributions they’ve made to your company, is not only thoughtful but makes good business sense. With reward travel, your company can give Millennials immersive, novel experiences and opportunities to learn. They love to share their experiences with friends and family via social media, and in the process, they can become ambassadors for the places they’ve visited and even for your company.
Docherty Incentives & Meetings has over 30 years of experience planning reward travel as well as meetings and events at destinations around the world. Thanking your younger employees for their hard work and commitment will let them know you value them and that they’ve made a positive difference. Contact Docherty today for innovative ways to show gratitude to your Millennial employees.