Multi-Generational Workforce

Transcription

1 Multi-Generational Workforce Louise Anderson, CPIM CEO/President Anderson Performance Improvement Secretary- Incentive Marketing Association Education Committee Chair - Incentive Marketing Association VP - Performance Improvement Council

2 Bio Louise Anderson 2 Louise Anderson, President and CEO, Anderson Performance Improvement Company. Award-winning Rewards and Recognition provider. Named five years running as one of the top 13 providers of employee recognition programs in HRO Today Magazine s The Baker s Dozen. In 2010, Incentive Marketing Association (IMA) awarded APIC with the Circle of Excellence Award for their Health and Wellness Incentive Program.

3 Generation Y 3 My attention is short, my demands are great and my purchases are diverse. I live in a day and age where social media apps, slogan tees and even my Nike sneakers can be customized to fit my lifestyle. 23-year-old Consumer

4 The Generations 4 Four Generations Working Together

5 Generation Y Who Are They? 5 Generation Y encompasses 78 million Americans Members of this generation are in their 20 s and just entering the workforce Generation Y grew up with technology and rely on it to perform their jobs better They want to have fun, at work and school Innovation is part of life Natural collaborators Ready to take on the world and make their mark

6 Personal & Lifestyle Characteristics 6

7 Workplace Characteristics 7

8 Generation Y - Communicating 8 Don t use your typical PowerPoint presentation Don t lose their attention because of their capability of multi-tasking Don t lose them with primitive technology Prefer communicating via technology vs. face-to-face Communicate through photos and video Value relationships

9 Generation Y How They Think 9 Gen Y wants to know What s in it for me? Would like to know why Occasionally recommend retailers and products to parents - Baby Boomers Very socially conscious Value the environment Technologically savvy

10 Generation Y Buying Decisions and Characteristics 10 Low cost, good quality, fast service, an experience Value peer reviews from social media sites Do not rely on Traditional Quality Brands Will favor company with green or humanitarian culture Don t waste your advertising dollars on newspaper, radio, etc. Spends $20 billion in online purchases alone each year Online research, online price comparison, and social media are important in purchasing decisions

11 Generation Y How to Market 11 Appeal to their ego and entitlement Scratch the TV ads and traditional marketing Focus your marketing efforts and resources on social media, viral marketing

12 Generation Y What Do They Want? 12 Immediate and Frequent Feedback Instant Gratification Empowerment Time Off Frequent Recognition Greater Work-Life Balance Fun at Workplace!

13 Total Rewards Elements 13 Compensation Benefits Work-Life Balance Performance and Recognition Development and Career Opportunities

14 Recognition Will Impact Your Bottom Line 14 Organizations that recognize their people outperform other companies that do not by 30-40%. The Herman Group

15 Recognition Will Impact Employee Retention 15 Engaged employees are more productive, profitable, customerfocused, and less likely to leave. Gallop organization

16 Recognition Will Impact Employee Engagement 16 Does the recognition or praise you receive at work motivate you to improve performance? 82% replied yes. In the workplace, what type of recognition motivates you to improve your job performance? 69% stated non-monetary,16% stated monetary. The Gallup Organization

17 Did You Know? 17 According to the Public Agenda Forum, only one in four American workers are performing at full potential. 78% of employees indicated that it was very or extremely important to be recognized by their managers when they do good work; 73% said they expected that recognition to occur either immediately or soon thereafter. (Nelson Motivation) Companies with effective incentive programs in place realized a median return to shareholders almost double that of companies that didn t have ways to recognize employees. (Watson Wyatt) Retention? According to a Robert Half study, 17% of good employees who quit their jobs do so because of a lack of recognition.

18 Employee Recognition Small Budget, Big Paycheck 18 Why Recognition? Employees respond positively when recognized Low-cost return High return Easy to use Increases office moral Changes your culture by encouraging loyalty, engagement, and enthusiasm for the job

19 Employee Recognition Small Budget, Big Paycheck 19 Opportunities Exposure Experience Praise Personal Appreciation Flexible Schedule

20 Recognition Is So Powerful! 20 Recognition is a corporate value, operating at every level. Recognition acts as a form of feedback. Recognition happens informally and formally. Employees who improve are rewarded, not just top performers. Employees choose rewards that are meaningful to them. Best Practices behaviors and activities that get results are identified, cloned, and rewarded.

21 Focus on the Behavior 21 Many companies believe they can change performance by rewarding employees for the final outcome and not the steps it takes to get there. By rewarding only the final results, companies reward the same top performers over and over. By shifting rewards and recognition to behaviors and activities that lead to great results, you recognize top performers and everyone else who shows improvement. This method encourages a focus on lasting improvement.

22 Thank you Incentive Marketing Association 22 Louise Anderson, CPIM Direct: Mobile: Anderson Performance Improvement Company, LTD. All Rights Reserved. AEIS (Anderson Enterprise Incentive Solution ) is a registered trademark of Anderson Performance Improvement Company