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The death of one-size-fits-all benefits: Tailor rewards to generational differences

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in Employee Benefits Program,HR Management,Human Resources,Leaders & Managers,Management Training

Most organizations choose employee rewards based on budgets, tradition and management choices. Or they may use surveys that solicit preferences but don’t analyze the results according to generational differences.

That’s a mistake more organizations are trying to rectify. Nearly a third (32%) of HR professionals plan to alter their total rewards programs with generational preferences in mind, according to the new Top Five Total Rewards Priorities survey by Deloitte LLP and the International Society of Certified Employee Benefit Specialists.

That percentage is likely to increase significantly in the future because the workforce is becoming more multigenerational—especially as older workers remain longer to rebuild their nest eggs.

More organizations are customizing rewards programs to accommodate the values, lifestyles, work habits and interests of different generations. Even low-budget programs can offer rewards th...(register to read more)

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