How Micro-Bonuses can Incentivize an Undervalued Workforce

Workhuman, a human capital management company discovered that 75% of people surveyed were satisfied with their benefits, but 58% of them said they didn’t feel valued at work. What does this mean for employers, if workers are generally happy with their benefits but employers are struggling to retain staff?

This is a call to action regarding benefits, recognition, and compensation, and means that it’s necessary to think about these things in a more holistic way. With the newest generation, it’s not enough for employers to make sure their employees have good compensation, stable jobs, health insurance and a 401(k) match. Now, the younger workforce wants companies to tell them they care about them too.

With 56% of people surveyed saying they think employer’s benefits should help support employee’s personal lives, it’s obvious that the workforce now has higher expectations, and are more willing to discuss taboo topics regarding challenges at work. Sixty-three percent of respondents ranked financial benefits as number one, followed at 24% by mental health benefits. Younger people want companies to align with their personal values, even if they aren’t utilizing the benefits that correspond.

For employers to make their employees feel valued, however, there has to be an additional attempt at positive reinforcement. Aside from traditional bonus systems, this can include micro-bonuses, which can help employees feel appreciated for smaller accomplishments and help them want to succeed within the company. These rewards can even be personalized for the specific staff member.

Helping workers feel like they are contributing something positive in a direct way is a great incentive for employees to continue the good work. With 73% of employees feeling most valued when they are directly recognized by their managers, almost 50% of people agree that monetary rewards are the best way to receive recognition bonuses.

For more information contact Eric Allen Kauk, Esq., LL.M. at (813)-203-0208 for guidance.