Corporate Citizenship and Engagement – Keys to Reaching Millennials

GEN-Y

Millennials represent the fastest growing demographic in the workplace and will represent the majority of the workforce in 10 years. It seems to go without saying then, that companies need to find ways to include, engage, embrace the Millennial employee.  Recent research finds that above all else Millennials value corporate citizenship from the company with which they are employed.  We also know that Millennials have grown up in the age of rewards and loyalty programs.  The logical next step seems to be to find a way to marry the two.

Certainly corporate citizenship has value to stand on its own but making it part of your corporate culture and a key component of your rewards program has significant value.  Here at All Star we have a Wellness Program with six areas of discipline – one of which is social responsibility.  The team that organizes these social responsibility opportunities often ties it to our rewards program.  That’s not to say that employees would skip it without the reward but it is an added touch that shows the company cares about the community and cares for the employee that is going above and beyond.

Additionally, utilizing your online rewards solution to recognize employees for their participation in activities supporting corporate citizenship – whether with a photo, news story, social media post – is also an easy, yet effective, way to tie the two together.

Read more about engaging Millennials here

In economic terms, the multiplier effect refers to the proportional increase or decrease in final income that results from an injection or withdrawal of capital. In terms of Safety Reward Programs, the multiplier effect might refer to the ROI² (Return on Incentive Investment). A properly structured program significantly impacts overall employee engagement and safety culture, where employees are attuned to safety-related issues, inspired to display “Above & Beyond” safe behaviors, willing to be safety ambassadors, and encouraged to promote learning and support continuous improvement. Such best-in-class programs are designed to promote group objectives and reward individual behavior, engaging, motivating, and rewarding the people behind your success.
 

Fortunately, there are thousands of companies in high-risk industries that have excellent safety programming, training, and coaching in place. Many include safety in their list of core values and have invested heavily in EHS (Environment, Health, and Safety) technology, training, telematics, and personnel. However, too many miss the opportunity to incentivize and recognize individual safety contributions, behaviors, and performance.
 

Programs featuring tangible and experiential awards as the reward currency can have a multiplying effect that pays dividends. Benefits include a more highly engaged workforce, fewer accidents and incidents, reduced claims and losses, lower turnover and absenteeism, better communication, increased productivity, visibility to leading and lagging indicators, incremental coaching and training opportunities, and improved profitability.
 

So, what’s the rub? Are engagement programs focused on employee safety, health, and wellness expensive to implement? Do they only make sense for companies with thousands of safety-sensitive workers? The answer to both questions is no. Properly structured programs can be cost-effective and right-sized for companies with as few as 100 safety-sensitive workers up to those with 10,000 or more. The ROI² of these programs can be expressed as a ratio (in this case, 4:1), with quantitative results showing a savings of $4.00 for every $1.00 invested and qualitative results revealing higher employee morale, which serves as a catalyst for productivity. Safety Reward Programs help to mitigate risk, elevate employee engagement, and improve overall safety culture. They also present an excellent opportunity for companies to simply say thank you to their employees for being safe, committed, and engaged.
 

People have an inherent need to know that their efforts do not go unnoticed. Safety Reward Programs provide the stimulus and energy that encourage employees to perform at their best and achieve new heights.

tara

1 Comment

  1. Sandra Gregoire

    Interesting Article! To the point that “84% of Millennials prioritize global citizenship above professional recognition” tells us that younger generations truly understand the value in paying it forward and are actively seeking companies that do this well. Incentives can certainly help light a fire under those less motivated while satisfying Millennials want for a socially responsible workplace.

    From making care packages for our Troops, for those affected by natural disasters, supporting food banks, blood drives, volunteering at community gardens, hospitals, and collecting jackets for the homeless – It is easy to get involved and very rewarding (not to mention team-building) for your employees to do so! Giving rewards points to your employees for taking a team lead, or even for participating, is a great show of company engagement.

    And as an added bonus – these efforts get employees from different departments interacting and sharing ideas.

    Reply

Submit a Comment

Your email address will not be published. Required fields are marked *

You May Also Like