With 92 percent of companies eyeing organizational design changes to accommodate the growing millennial workforce, it's important to show these employees appreciation in a multitude of ways to keep them engaged.
Millennials represent nearly 38 percent of the total US workforce, according to a Gallup report, and that number could spike to 75 percent by 2025. But are they being shown adequate recognition and appreciation for their work efforts? Perhaps not, if the Gallup data is any indication.
The "How Millennials Want to Work and Live" report shows that 71 percent of millennials are either actively disengaged or not engaged at work. It appears companies have to work at changing millennials' workplace attitudes for the better.
Here are three quick ways to show your millennial employees appreciation for a job well done - and also keep them engaged in their work:
Provide Regular Reviews
In an era ruled by instant gratification, millennials are seeking constant updates on their job performance.
With about one in five millennials currently receiving regular reviews, according to a Forbes report, there's ample opportunity for companies to step up their communications, particularly for exceptional work.
Carving out 5-to-10 minutes for weekly review sessions will not only give you the chance to show your appreciation for their service, but also keep them engaged and motivated.
Throw Company Parties & Activities
A recent Deloitte survey indicates that nearly two-thirds of millennials prefer to work in a full-time position, instead of as a freelancer or contractor.
For millennial work teams, organizing company activities and parties when they meet or exceed sales goals, for example, is a good way to reward them.
From catered meals to quick trips to nearby restaurants, these activities foster relationship building and also reinforce your desire to keep your full-time staffers happy in and outside of the workplace.
Give Out Gift Card Brands Millennials Want
Generation Yers and millennials have been big into home buying the past four years, with 34 percent of house buyers being 36 years old and younger, according to a recent National Association of Realtors study.
This younger group currently represents the largest share of home buyers in the US, the study adds.
If you know some of your millennial employees recently bought a house, consider buying them Home Depot® gift cards—identified as one of the top 10 chosen physical gift cards by consumers, according to a Cross Roads Today report—to tackle renovation projects.
A simple gesture such as that goes a long way toward maintaining a great relationship with your employees.Buying gift cards at bulk discounts from home improvement stores, including The Home Depot, is one way to show your customers and employees how much you appreciate them.