How to Reward Gen Y Employees
Posted by Molly DiBianca On April 10, 2009 In: Generations: Boomers, Xers, and Millennials
Gen Y employees have a not-so-great reputation for being difficult to manage. Here are some tips to remember when rewarding Gen Y workers when they're on the right track.
A common mistake made by well-intended employers involves how they reward employees. The value of rewards must be judged by a different standard. To be effective, the reward must be tailored to its recipient. When Boomers were on the receiving end of the rewards, it was common for the reward to involve more work.
For example, a junior associate who does a stellar job on a client project could be rewarded with an invitation to attend a dinner with that client. That "reward" may have been well-received by a Boomer employee when he was climbing the ranks. But not so with Gen Y. Gen Y is a generation of employees who value their personal time. Being "asked" to attend a work-related event in addition to their normal work duties is not a reward.
Today, the new reward is balance. Reward Gen Y employees by giving what they want--flexibility. To celebrate a big success, allow the employee to set his own schedule for the week. If you know that your hard-working Gen Y is a late riser, change his schedule from 9 - 5 to 10 - 6.
Related Posts:
The Impact of the 2007 Baby Boom
Should Gen Y Abandon Any Hope for Work-Life Balance?
5 Things Employers Should Know about the Engagement of Gen Y Employees
