Top 10 incentives for Gen X and Y

Chance for growth and performance bonuses top draw, but many companies missing the mark: Survey
By
|hrreporter.com|Last Updated: 07/18/2008

When it comes to choosing a company to work for, advancement opportunities are the number one incentive for both Generation X and Generation Y, according to a new survey.

The survey of 3,000 workers, by search firm David Aplin Recruiting, found the opportunity for growth was the top draw for 96 per cent of Gen Y respondents (born in 1980 or later) and 90 per cent of Gen X respondents (born between 1962 and 1979).

Rounding out the top 10 incentives for these generations are:

• performance-based bonuses and salary increases;

• excellent benefits package;

• new challenges, variety of interesting projects;

• pension or retirement savings plan;

• high salary;

• meaningful work and opportunity to make a difference;

• recognition and feedback;

• flexible work hours, such as telecommuting; and

• mentoring and coaching.

Unfortunately, not enough companies are meeting these expectations. A David Aplin survey of 1,000 hiring mangers found just less than two-thirds of companies offer these incentives. The top two incentives companies offer are support of local charities and a casual dress code – which don't even make the top 10 list for Gen X and Y.

Employers can stand apart from the crowd by offering perks that are in relatively high demand, but which very few companies are offering. These include:

• signing bonuses;

• subsidized transportation;

• free fitness memberships; and

• company stock options.

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