Recognition in the Workplace

In light of our recent posts on Attracting Gen Y Talent and Retaining Gen Y Talent, we thought this new piece of research from Inspiring Talent, a global survey of employee attitudes based on responses from more than 4,000 employees, was especially interesting.

The researchers found a significant difference in the attitudes of Gen Y employees and Baby Boomer employees towards rewards and recognition in the workplace.  Meaning, recognition given in exchange for good work or extra effort.

38% of Baby Boomers said they believe they will always be recognized and rewarded if they work harder, while only 19% of Gen Y employees agreed.

This points to a fundamental difference in the concept of loyalty towards ones’ employer.  As we have written before, Gen Y employees are less loyal to their employers that the older generations.   Baby Boomers are more likely to have worked for the same employer over the course of their career, and younger professionals are likely to skip from workplace to workplace, courted by higher salaries or more attractive projects.

The research suggests that human resource directors and managers need to consider personalizing rewards for their employees, and develop a keen understanding of what motivates each generation.  Gen Y are looking for more immediate rewards and Baby Boomers are looking for longer term rewards. Delivering appropriate rewards will help keep talent in the long run.

Because, as the article points out, in the end, it is all about empowerment and everyone needs and appreciates recognition for their good work.