Ask Madison: What Do Employees Really Want?

• 39% [of surveyed workers] said they'd consider quitting if their bosses weren't flexible about them working from home.
• Additionally, millennials and Gen Z accounted for 49% of the respondents who said they'd consider quitting.

While PTO and a remote-work model are components of an employment agreement and official company policy, offering flexible time and likened opportunities could be tied to rewards and recognition as well. For instance, in many R&R programs, companies will offer incentive trips, company events, outings and more to celebrate their team as part of a reward. Personalized experiences that an employee chooses as their reward can also mean a break from work, and perhaps time can be given as a redemption choice within the rewards program. Flexibility is based on supporting a more sustainable and enjoyable work-life balance. Something as convenient as planning grocery deliveries as a reward option is a value-add idea that contributes to a positive work-life balance.

By aligning with flexibility as a core positive outcome of your R&R program, you are helping to address a top expectation that has been developing across the workforce spectrum for nearly two decades, and one that has since morphed into a non-negotiable for talent seeking new opportunities in a post-pandemic work world.

• Pressure in the workplace study suggests that 71% of workers typically feel tense or stressed out during the workday.

Health programs are often a deciding factor for employees remaining in a position or a candidate accepting an offer. They are a staple of most all benefits packages. An R&R program can enhance an employer’s commitment to the health and particularly the well-being of both mind and body for their team members. While an R&R program will not manage deductibles or doctor’s visits, rewards can be designed to positively support employee wellness, particularly mental health.

Given the stress factors faced by today’s worker that affect their health, there are a number of rewards- and recognition-based options to help them de-stress, through experiences, wellness gifts, fitness stipends and subscriptions, and team-building opportunities that can produce a positive outcome. From a psychological aspect, human nature responds positively to feeling valued and appreciated, which will manifest physically with a heightened sense of overall well-being.

It simply feels good to know you are appreciated and will do wonders to manage the stressors that affect our physicality.

• PwC finds that 77% of employees are ready to learn new skills or completely re-train.
• A separate workplace survey report found that 94% of surveyed employees responded that if a company invested in helping them learn, they would stay longer.

As the work world changes – and particularly as technology seeps into job descriptions, employees and candidates alike understand the importance of and are seeking out opportunities for reskilling and retraining to further their careers. Benefit packages have long-included tuition reimbursement programs and educational allowances. To supplement these offerings, an R&R program can be designed to include opportunities to select training, seminars and learning tools as rewards that double to support further education for team members.

Programs within Madison’s Maestro, also include a robust performance feedback and goal-setting component. Maestro One ties in well to helping an employee build a performance track, complete with goals and milestones, highlighting areas to increase skills for their professional growth.

• 82% of surveyed employees are happier if recognized at work.
• Another recent survey found employee recognition was most important to 37% of employees. 
• Recognition is key to retaining your team. A McKinsey study on the factors of the Great Attrition notes: “By contrast, the top three factors employees cited as reasons for quitting were that they didn’t feel valued by their organizations (54 percent) or their managers (52 percent) or because they didn’t feel a sense of belonging at work (51 percent)”

All rewards and recognition programs at their core are established in order to make team members feel valued. They are inherently designed to improve engagement, celebrate moments and recognize individuals for their hard work. It is evident through data alone that this is not a fleeting feeling – employees expect engagement and recognition in order to successfully continue in their role. And, they will move on if those expectations are not met.  

Programs that have multiple touch-points that allow for recognition from leadership, managers and peers perform well. Through a combination of cost-effective tools in personal accolades and social recognition to larger elements like incentive travel rewards and company celebrations, we can accomplish what employees want: they have told us in no uncertain terms that they need to feel heard, involved and that they matter.