Lauren McAuley is the Marketing Manager at GiftCard Partners and is responsible for managing the marketing and program development of GiftCard Partners clients' brands. Formerly a resident of the sunshine state, she's now a farm girl in the middle of Iowa. She's a big believer of keeping things short and sweet, getting to the point, and being helpful in the process.
Many corporate health & wellness programs focus on supporting employees in their attempts to reach health goals or to live a healthier lifestyle, but the majority of efforts are spent on improving the lives of employees during their workday and in the workplace.
When typing the word “motivation” into Amazon’s bookstore you’ll discover there are over 100,000 books related to motivation: The Motivation Manifesto, 77 Ways to Get Motivated, Drive: The Surprise Truth About What Motivates Us; the list goes on and on.
But all that helpful advice must be taken with a grain of salt now that managers are motivating a multi-generational workforce. Three generations now make up today’s workforce.
Look around the office and you’ll see Baby Boomers, Generation Xers, and who could forget all those Millennials. According to Pew Research Center’s 2015 study, U.S. Labor Force by Generation, Baby Boomers make up 44.6 million, Generation Xers make up 52.7 million, and Millennials make up 53.5 million of the U.S. labor force.
So why is this so important? Because each generation is motivated by different values, work styles, communication tactics, job responsibilities, and rewards.
We talked before about the shift in reward and incentive programs. Employers must now take into account that each workplace is usually comprised of 3 different generations, Baby Boomers, Generation X, and Millennials. Each of these generations defines a “valuable reward” in different ways. This shift in rewarding now involves turning away from the idea of general cash rewards and taking a more personalized approach to the individuals you are trying to motivate or reward.
The only thing constant in the B2B gift card market is that it’s constantly evolving. This can leave retailers scrambling to keep up with the flow and not get left behind. One such evolution is digital gift card growth in the B2B market. Retailers are taking a closer look at the effect this growth in digital has on the bottom line of their B2B gift card program.
Millennials play a major role in the way retailers and merchants now look at the loyalty game. With technology constantly evolving and Millennial consumers, aged 18-34, on the brink of every change, those same retailers and merchants have to be right there with them. A recent study from Excentus, The Road to Rewards: What Drives Millennial Loyalty?states,