Glossary of Employee Recognition, Total Rewards, and Company Culture Terms
Millennials are individuals born between the years 1981 and 1996, and they are often referred to as the "digital generation" or "Gen Y." They have grown up with technology at their fingertips and are known for their values of authenticity, transparency, and work-life balance. They are the largest generation in the workforce.
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Millennials are known for being driven by purpose and meaning in their work. They seek recognition and appreciation for their contributions and value transparency and feedback. In order to engage and retain Millennials, companies need to create a culture of recognition and foster a sense of belonging.
Millennials are motivated by more than just a paycheck—they want to feel a sense of purpose and meaning in their work, and they crave opportunities for growth and development. They want to feel valued and appreciated for their contributions, and they seek a work-life balance that allows them to pursue their personal passions and interests outside of work.
To effectively recognize and reward Millennials, companies need to embrace a culture of recognition and create a recognition program that aligns with their values and mission. Best practices include:
Awardco's platform allows companies to easily implement an effective recognition and rewards program that will engage and motivate their Millennial workforce.