For a generation that grew up with Nintendo, Play Station, and Xbox 360, it makes sense that Millennials seek out fun ways accomplish tasks and achieve goals at work. It is estimated that 70 percent of the largest companies today are using some form of gamification to attract and retain their young talent.
“Gamification” applies game technique to get people to achieve their goals. This is a real thing, and it is a $2.8 billion business. Think about it — Millennials have been conditioned to earn points, badges or rewards through games or competitions, and they like having targets set that are challenging but reachable with smaller goals along the way to measure progress and development.
In addition, because Millennials prefer to compete as part of a team, as opposed to individually, forward-looking companies have found ways to use game techniques in a positive way that encourages collaboration, recognition and support among employees of all ages.
A Growing Trend
According to Gartner Research, the gamification industry (primarily through apps and digital tools) will see significant growth in the next five years, with a market that could reaching $5.5 billion. There are already numerous vendors that can help businesses use the concept; one of the best known is a company called Badgeville.
But many companies are developing their own models and internal competitions that promote productivity. One insurance company, Chicago-based Assurance, has started a Digital High-Five program that promotes both positive, public recognition and competition. Employees can give other employees a digital high-five as a way to recognize good work. These are projected on LCD screens throughout the office for everyone to see. Employees “collect” high-fives, and each quarter the employee who accumulates the most wins an award.
Another insurance organization, Los Angeles-based Bolton and Company, hosted the “Bolton Rock Star Challenge.” To promote creativity and collaboration among employees, the company asked employees to nominate each other. Nominees received a guitar pick, and the person who collected the most guitar picks at the end of a 6-month period was proclaimed winner.
Millennials increasing believe that being successful long-term in their chosen career means meeting short-term goals and making steady, upward progress. Gamification is one way employers can help Millennials see the link between what they do at work today and how it helps their professional development for meeting tomorrow’s (or next year’s) goals.
Learn more about gamification and how it fits into recruiting and retaining the top Millennials — particularly in the insurance industry — in the soon-to-be-released white paper, “Maximizing Millennials for Insurance Agents and Brokers” from CoachingMillennials through the Council of Insurance Agents and Brokers (CIAB).
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