78% of millennials say that they prefer spending money on experiences rather than things.
ATLANTA (PRWEB) January 15, 2018
The article, How Incentive Travel Motivates Millennials, published in Corporate & Incentive Travel, focuses on the values and qualities of millennials that make incentive travel a great reward or incentive option for them.
There is a large generation mix in the workplace right now. From millennials, to Gen Xers, to Baby Boomers. Millennials are more than 1/3 of the workforce, making them the largest generation in workforce population. This also makes their interests and needs more important than ever. Steve Damerow explains the importance of considering their wants, needs, and intrinsic motivation when it comes to incentives for employees.
In the article, Damerow says that millennials often have a bad reputation as the phone-crazed and social media obsessed. But, instead of viewing this is a negative, it can also be seen as their want for communication, and desire to connect with and explore the world around them.
The millennials are not only a large group, but a diverse one as well. Due to high immigration and their need for connectedness, this group has become open-minded and tolerable of each other’s differences. This diversity means that millennials are more open to and motivated by travel incentives that will lead them to their exploration of new people and experiences.
Their desire for a real vacation and to discover those new experiences will drive millennials in the workplace. Damerow challenges the stereotype of millennials being entitled and self-absorbed by stating, “The average millennial graduated college with around $40,000 of student loan debt — and the average salary for millennials is less than $35,000.” This makes traveling and capturing the perfect Instagram picture out of reach for many millennials.
The value of experience is vastly more important to millennials than things. Damerow reports from a Business Insider survey that a whopping 78% of millennials say that they prefer spending money on experiences rather than things. 77% say that their best memories are tied to experiences. Experiences and the memories created are of high importance to this generation, making an incentive trip an ideal motivator for them.
Incentive travel can be used as a powerful influence. Especially when travel leaders and managers tap into those wanderlust, experience-seeking, communication-hungry millennials.
About Incentive Solutions
Incentive Solutions, Inc., founded in 1994 based in Atlanta, GA, offers online rewards, travel incentives and gift card rewards. Since its creation, Incentive Solutions has focused on delivering more than just rewards, innovating the incentive industry by utilizing emerging online technologies. Acting as valued partner and trusted advisor to clients, they help organizations increase sales, motivate employees, build customer loyalty, create positive work environments and improve channel sales relationships.
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