A recent Pew poll shows that an increasing number of workers are being asked to work more hours without additional benefit. In the short term, this simply seems to be the result of a lagging economy. Indications suggest, however, that this trend may not recede when business starts booming again.
To the surprise of some, most Gen Y or Millennial workers (born 1980–2001) are primarily interested in non-monetary rewards and benefits. When asked to choose between more money and more vacation time, the majority opt for additional time off. Other non-traditional rewards included allowing work time to pursue an endeavor of their choice, dedicated time with mentorship and development coaches, and involvement with various social-good causes.
The company that will thrive in the future will be one that values both profitability and employee satisfaction as integral parts of its organizational culture.