Attracting and retaining top talent is difficult when employees demonstrate greater transience and less corporate loyalty as their needs and desires evolve. Entire industries have been crippled by brain drain, human capital flight caused by a shortage of graduates pursuing careers in the field and exacerbated by baby boomers retiring. Discovering and offering the things that matter most to workers, like meaning, flexibility and training, helps ensure companies can hire and keep the best and brightest. Do you know what workers want? Take this quiz to find out.
1
Which generation cares most about mentoring programs?
YOU'RE CORRECT!
According to the RSM Middle Market Leadership Council survey, developed in partnership with Moody's Analytics, and other data, 75% of millennials view mentoring programs as important. But only 21% of middle-market companies surveyed said their companies offered mentoring programs. Implementing group mentoring may be a less-resource-intensive way to make young workers feel they are being prepared for leadership positions, according to a report from the Harvard Business Review.
YOU'RE WRONG!
According to the RSM Middle Market Leadership Council survey, developed in partnership with Moody's Analytics, and other data, 75% of millennials view mentoring programs as important. But only 21% of middle-market companies surveyed said their companies offered mentoring programs. Implementing group mentoring may be a less-resource-intensive way to make young workers feel they are being prepared for leadership positions, according to a report from the Harvard Business Review.
2
Ninety percent of the middle market companies RSM surveyed offer healthcare benefits. Is this higher or lower than the share of employees citing healthcare benefits as important?
YOU'RE CORRECT!
Although 90% of companies surveyed offer healthcare benefits, only 67% of baby boomers, 62% of Gen Xers and 60% of millennials prize healthcare as an indispensable incentive. The data gathered by RSM shows this incentive is declining in popularity. Companies should consider offering leaner or tiered healthcare plans and reallocating the money spent on healthcare benefits to other programs.
YOU'RE WRONG!
Although 90% of companies surveyed offer healthcare benefits, only 67% of baby boomers, 62% of Gen Xers and 60% of millennials prize healthcare as an indispensable incentive. The data gathered by RSM shows this incentive is declining in popularity. Companies should consider offering leaner or tiered healthcare plans and reallocating the money spent on healthcare benefits to other programs.
3
____ out of every 10 employees want flexible work hours or schedules.
YOU'RE CORRECT!
Approximately 80% of employees surveyed, regardless of age, demand flexible work hours and schedules. Research from Stanford University found that flexible hours can boost productivity and working hours while improving job satisfaction. Over 50% of people consider work-life balance more important than salary, recognition and autonomy.
YOU'RE WRONG!
Approximately 80% of employees surveyed, regardless of age, demand flexible work hours and schedules. Research from Stanford University found that flexible hours can boost productivity and working hours while improving job satisfaction. Over 50% of people consider work-life balance more important than salary, recognition and autonomy.
4
Which of the following is least important to baby boomer employees?
Community volunteer programs
Work-from-home opportunities
Employee recognition programs
YOU'RE CORRECT!
Just 3% of baby boomers surveyed expressed the desire to work from home. Retirement programs were a top concern for 83% of boomers, and 86% of companies surveyed provided retirement programs. Baby boomers also care about giving back and being recognized for their work. Of those surveyed, 73% of boomers expressed interest in community volunteer programs, and 78% of boomers consider employee recognition programs important. But RSM’s data shows companies are falling short on providing both.
YOU'RE WRONG!
Just 3% of baby boomers surveyed expressed the desire to work from home. Retirement programs were a top concern for 83% of boomers, and 86% of companies surveyed provided retirement programs. Baby boomers also care about giving back and being recognized for their work. Of those surveyed, 73% of boomers expressed interest in community volunteer programs, and 78% of boomers consider employee recognition programs important. But RSM’s data shows companies are falling short on providing both.
5
What share of millennials would like to see recognition programs improved?
YOU'RE CORRECT!
By 2030, millennials will comprise up to 75% of the labor market, RSM found. Researchers have found this generation was raised with constant feedback and praise in their education years. According to a study conducted by Aon Hewitt and O.C. Tanner, 38% of millennials feel their employers could be doing more to recognize employees’ work. Recognition programs engage employees, build trust, promote retention and encourage effort in the workplace.
To learn more about this Bisnow content partner, click here.
YOU'RE WRONG!
By 2030, millennials will comprise up to 75% of the labor market, RSM found. Researchers have found this generation was raised with constant feedback and praise in their education years. According to a study conducted by Aon Hewitt and O.C. Tanner, 38% of millennials feel their employers could be doing more to recognize employees’ work. Recognition programs engage employees, build trust, promote retention and encourage effort in the workplace.
To learn more about this Bisnow content partner, click here.
