Rewards and Incentives

 
Millennials will form 50% of the workforce in 2020, and the majority value training and development and a healthy work/life balance over salary.
This is according to a major survey of 4,000 graduates from PwC, which found that nearly a quarter (22%) of respondents rated training and development as their number one benefit. Flexible working followed with 19% claiming it was most important, while cash bonuses ranked third (14%).
The report Millennials at work, reshaping the workplace also showed that 72% of those born between 1980 and 2000 have also had to make some sort of compromise in terms of location, salary or industry to get into work.
Jon Andrews, Partner, PwC says: “Millennials want more than ‘just a job’. They expect rapid progression, a varied and interesting career, and constant feedback.

(MoneyWatch)  According to a SHRM Study conducted earlier this year, most organizations have employee recognition programs in place. So why don't many of those programs work?
 
Effective employee recognition isn't based on following arbitrary guidelines or creating insincere recognition systems. That's why so many formal recognition programs only pay lip service to praising employees for their efforts.

 
Business owners have little challenge with motivating themselves to go the extra mile, but how can they get others to mirror that work ethic? This can often be a painful point for entrepreneurs because they see success related to time and energy spent on projects, when in reality there is often a disconnect between employees and ownership of the company they work at.
Often, employees do only the required amount of work rather than take the extra steps needed when growing an enterprise. Think of how powerful the company would be if you were able to clone the same drive and passion you have for making your company successful. This could be possible if you began creating a mentality that your employees were CEOs in their own right.