A lot of research about Millennials characterizes them as a socially conscious generation, and an article today on Forbes.com notes how that can effect how they view rewards in the workplace. Millennials are looking for employers to support those altruistic goals. That also goes hand in hand with wanting a workplace that fits with their flexible lives so they can, say, take a mission trip. From the piece:
The Y's commitment to altruism signifies a fundamental change in the nature of rewards and incentives, but it's just the tip of the iceberg. As the 70-million-strong millennial cohort hits the workforce, savvy employers who want to tap into their strong talent pool should take note of the attraction of non-monetary motivators, especially among Y women.
A few types of "compensation" that will become increasingly important in the workforce as Yers continue to infiltrate it:
- maternity/paternity leave
- flexible work schedules
- telecommuting
- technology -- computers, smartphones, etc.
- educational programs
- wellness programs
- mentorship programs
It will be interesting to see how to workplace evolves to compensate employees in ways beyond the paycheck.
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