According to an article in the Montreal Gazette, employers can use employee incentive programs to better motivate and engage employees. Implementing incentives have been shown to create a workplace environment that moves workers to produce more than they normally would.
In regard to younger employees, the need for positive feedback on a regular basis, along with immediate rewards are definite factors in keeping the Generation Y workers onboard. Having to wait for a recognition award, that may take five or more years to achieve, leads to employee disengagement.
Experts in workplace management noted that setting the standards higher, and rewarding employees for excellent work, rather than adequate work, will help motivate co-workers to strive to achieve a higher work standard.
Bob Nelson, a motivational speaker and workplace management expert explained that offering rewards should be initiated “when they’ve knocked it out of the park and they’ve really stepped up to the plate and done the performance, that’s going to make not just them successful but us successful."
The paper also reported that recent Nielsen research showed that 54% of employees stated they have plans to pursue other job opportunities as the labor market improves. This will be a growing problem for employers who are striving for employee retention as the economy steadily recovers.