Millennials, those who currently are in the 18-33 age range, will make up 75% of the workforce by 2025. This generation posses an entirely different outlook on workplace culture than the generation before them. Technology is the primary Millennial influence, both in and out of the workplace.
Growing research shows that point system incentive programs have the highest success level, especially with Millennials. These employees want to not only be recognized, but they also want choices in how they are rewarded as well. Points programs are virtually foolproof, easy to understand, appeal to the interests of many different types of participants, tend to have higher participation rates, and are just plain fun!
One amazing employee points program incentive model is the Values In Action program at CVS/pharmacy. An online rewards system where colleagues and managers can recognize one another by granting points that are redeemable for merchandise, travel vouchers, gift cards, and even the option to make a charitable donation.
While points programs work best for Millennials, they can be customized for any diverse workforce. For more information on why points programs are so popular check out this article by Quality Incentive Company.