The Corporate Challenge: How to Effectively Recognize and Engage Today's Multi-Generational Workforce
Recognition Expert Globoforce Offers a New Approach to 21st Century Strategic Recognition; Gifts of Choice and Frequent Recognition are Key
Southborough, Mass. and Dublin, Ireland (Vocus/PRWEB ) September 30, 2008 - With four generations of employees in today's workforce, all of whom have different work styles, expectations, performance goals and time needs, finding effective ways to recognize, motivate and ultimately engage these highly diverse groups is a complex issue for global organizations.
A just-released study, Rewarding a Multigenerational Workforce, conducted by the global human resources association WorldatWork, revealed that generational differences are often not even considered when companies are designing total rewards programs. According to the study, 64 percent of companies have four generations in their workforce and yet only three percent are actively planning and executing reward strategies for these diverse audiences. While a full 85 percent of organizations indicate that recognition programs have the greatest usage by all generations, 80 percent do not have an organization-wide strategy that considers the multi-generational workforce when designing, administering or communicating total rewards programs. This may be because corporations lack the tools to automate and manage the process.
Globoforce, a leading provider of on-demand, global, strategic recognition solutions, advises forward-thinking organizations to abandon the ineffective employee recognition efforts of the past and embrace a fresh new model designed to energize and engage today's multi-generational workforce.
"The dated, cookie-cutter employee incentive programs based on company logo items and catalogue-based merchandise are simply recognition dollars not working as hard as they should," said Derek Irvine, Vice President of Global Strategy, Globoforce. "To motivate and engage today's diverse workforce, recognition programs must reward employees with the gift of choice - offering gift cards that can be redeemed for literally millions of items that will appeal to everyone from Boomers to Gen Ys. Moreover, awards should be given frequently and on-the-spot for a job well done. This approach appeals to all generations, but Gen Xs and Ys in particular as it meets their need for timely feedback and encouragement. Lastly, tie awards to company values, which will serve to unite these various generations around key goals."
The how of this innovative approach, featuring the four facets of strategic recognition that address the unique engagement needs of the multi-generational and multicultural workforce, is outlined in Globoforce's new white paper, The New Era of Strategic Recognition: Engaging Multi-Generational and Multicultural Teams in the 21st Century Global Workforce. To request a copy, go to http://www.globoforce.com/corporate/eng/innovation-center/whitepapers/.
About Globoforce
Founded in 1999 and co-headquartered in Southborough, Massachusetts and Dublin, Ireland, Globoforce is the world's leading provider of on-demand, global, strategic employee recognition solutions for Global 2000 companies. Globoforce delivers an innovative, easy-to-use, on-demand software solution that engages employees across the globe, transforming the way enterprises motivate their workforce. Globoforce's blue-chip customer base, which includes Avnet, Dow Chemical, Global Crossing, Fairmont Hotels & Resorts, Intel, Intuit, Nortel, Procter & Gamble and Thomson Reuters, reflects the importance of recognizing and engaging the workforce in the 21st century. For more information, visit http://www.globoforce.com or visit the Company's blog at http://globoforce.blogspot.com/.
Tim Rossi
Globoforce
+1 508-229-1543
timothy.rossi(at)globoforce.com
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