Facilitating real-time engagement and genuine connections with fellow employees will create the company culture that retains millennial workers. In a recent survey conducted with new hires and tenured employees across a variety of industries, YouEarnedIt.com, the nation’s leading employee recognition and engagement software, found that this generation of workers are sentimental, hyper-connected individuals that crave communication, collaboration, and real-time connectivity in order to feel engaged and motivated within a company.
According to the survey results, 97 percent of respondents answered that real-time feedback from peers and throughout company hierarchies was equal to, and in some cases, more important than bi-annual performance reviews. While there is still room for the traditional performance review and rewards that come from these, the data reveals that formal reviews do little to increase the personal ownership and accountability employees desire in the workplace.
Companies seeking to attract millennials, adults 18 to 34 that currently make up the largest share of the American workforce, would be especially well advised to devise a strategy for helping their employees develop a deeper relationship with their coworkers. Sixty-seven percent of survey respondents expressed that connections to their coworkers and team collaboration on projects are the strongest factors that lead to their deeper sense of engagement at work.
While it’s easier to give a blanket pay increase across the board, it’s not paying off for most companies. Opportunities to live a healthier and more purposeful life, grow in their profession, and participate in team events carry more weight than an increase in compensation. To that end, rewards that drive happiness and more engagement are company experiences such as team happy hours, group fitness events, and collaborative mentoring, according to the survey respondents.
About YouEarnedIt
Founded in 2012, based in Austin, Tex. and devoted to workplace happiness, YouEarnedIt is a software platform that brings people together and delivers where it matters: total employee engagement, inspired workforce, and better team and company results. Learn more a YouEarnedIt.com.
