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Revamping rewards & recognition practices for multi-generational workforce, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

Highlights

  • Vishpala Reddy of Philips says that Gen X or traditionalists often appreciate formal structures more than Gen Z whose world revolves around instant gratification and customised experiences.
  • Shailesh Singh of Max Life Insurance says that young professionals, typically from Millennials and Gen Z, prioritise non-monetary rewards such as flexible work schedules, career development opportunities, and a positive work culture.
  • Dr Shilpa Kabra Maheshwari of Siemens feels that customising R&R practices for various employee generations, aligned with the diverse ambitions, expectations and life requirements differing across age groups, fosters a more engaged and motivated workforce.
  • Jayanthi Gopal of Mashreq Global Network thinks that it is overly simplistic to assume that different generations’ expectations are solely shaped by their distinct life stages.

<p>Employees are recognized through numerous ways, and managers are actively encouraged to recognize team members.</p>
Employees are recognized through numerous ways, and managers are actively encouraged to recognize team members.

The progressing nature of work and upcoming Gen Z and even younger generations into the workforce seek a withdrawal from static and traditional R&R practices.

Today’s multi-generational…


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