In our last edition of the Class of 2010 Speaks…So Listen Up! based on our Class of 2010 Survey, learn why instant recognition truly matters to the Millennial generation and what type of rewards they want.
Instant recognition

The Millennials are used to instant everything – instant messaging, instant access and instant communication. They grew up with technology literally at their finger tips, and expect that their actions will be acknowledged instantly. They like a song, they download it immediately; they send an email, they automatically receive a message notifying them the email was received.

They crave feedback and recognition because it helps them assess whether they are taking the right steps and the right path – the path that will get them where they want to be in your organization. Read You’ve got them…now how do you keep them? for more on developing a career path for your young employees.

They want instant recognition, what about rewards?

Bruce Tulgan, leading expert on young people in the workplace and author of the best-seller, Not Everyone Gets a Trophy: How to Manage Generation Y, stresses the need to also provide young employees with immediate rewards. “…deliver the reward in question as soon as you possibly can. Immediate rewards are much more effective with Gen Yers because they provide a greater sense of control and a higher level of reinforcement,” writes Tulgan in his book. “Gen Yers are likely to remember the precise details and context of the performance and are therefore more likely to make the connection the next time the desired performance is called for.”

It is key to provide reward choice and offer rewards that your employees can get excited about. Employees from every generation appreciate the freedom to choose their own rewards, but this is especially true for Millennials, who see freedom of choice like oxygen – a necessity!

What type of rewards do they want? Survey says…travel! 84% of respondents from the Class of 2010 Survey ranked travel rewards as a top three choice, compared to 17% who chose years of service awards such as watches, pens sets and grandfather clocks.

Fot the complete Class of 2010 Speaks…So Listen Up! series read:

To recruit top talent think like a marketer

Build your online employer brand

You’ve got them…now how do you keep them?

Recognize Talent…when you see it