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Prepaid Rewards Have a Positive Effect on both Employee Recognition and Retention

Wednesday, September 18, 2019   (0 Comments)
Posted by: Sandy Thomas
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Although the job market hasn’t been better in 50 years, a national online study from daVinci Payments of over 600 employees from 18 to 38 found that Gen Z and Millennials are feeling dissatisfied and underappreciated at work. Forty-three percent of Millennials surveyed said they planned to leave their job within the next two years. Even more disenchanted with their current position are Gen Z workers, with 78% saying they plan to leave their current job within two years.

These two generations crave recognition on the job, the study finds. Appreciating these employees for their work, even in small ways, provides them with personal fulfillment and provides employers with employee retention. Millennial and Generation Z employees don’t feel their hard work is being recognized; 50% of employees surveyed feel that management does not recognize strong job performance.

But one thing they crave is recognition, according to a new study. And just about anything will do – 70% said they would stay at their job for another year if they were able to receive three $50 prepaid gift card rewards over a one-year period. And an even higher percentage (79%) said that an increase in recognition rewards would make them more loyal to their employer.

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