Millennials – Next Evolution in Incentive Travel

November 17, 2017 / articles, people

Millennials – Next Evolution in Incentive Travel


Look ahead: your workforce is undergoing a significant change which will disrupt not only your incentive trip initiatives but your organization as a whole.  What are we talking about?  Millennials of course! Gain fresh insights on a group that has become the new majority in the workplace, and harness this knowledge to maximize the ROI on your next incentive trip.


 “Change is the law of life. And those who look only to the past or present are certain to miss the future.”
– John F. Kennedy


Knowing How to Attract, Motivate and Retain Millennials is the Future.

Companies who utilize incentive travel to drive business objectives should beware, ignoring the effect of Millennials in the workplace is a dangerous thing. Employers have an unprecedented opportunity to impact their company by taking the time to get to know these employees.

Add Mileage to Your Incentive Travel

With a significant amount of money being invested in an annual incentive trip, it should be a priority to maximize the return on investment. An incentive trip is more than just a vacation; it is an incredible opportunity to drive business objectives, engage and inspire employees, and further reinforce corporate culture.


Know Your Millennials: Some Fast Facts


As of early 2015, Statistics Canada showed that Millennials had become the largest generation in the workforce at 36.8% while Gen X had dropped to 33.9% and Boomers down to 33.1%.


It is not surprising that in a recent PWC study, CEOs identified “attracting and keeping younger workers is one of their biggest talent challenges.”  They further explained, “employers who fail to invest in this group are likely to see less loyalty than those that do. Employers need to work much harder on understanding this generation and appealing to their needs.”

Why Should You Care About Millennials?

The largest portion of the workforce thinks differently, communicates differently and is generally changing the way the world operates. Companies are now challenged with attracting, engaging, and retaining this continually expanding generation.

Millennials Are Seeking Rewarding Experiences!

It’s important to think creatively about your reward strategies and what motivates Millennials. If you’re not starting a conversation and building trust with this demographic now, you risk becoming irrelevant. According to a recent PWC global survey of CEOs,

“65% of business leaders [are] focusing on non-financial rewards as they [consider] reward strateg[ies] for the future and [look] for ways to improve employee engagement and retention”.


Five Millennial Characteristics You Can Convert Into Business Strategies


These five characteristics describe the Millennial generation, and using them can help you inspire and engage this group to drive your business objectives.


let me grow.

Millennials are often stereotyped as lazy and uninspired. However, Millennials are now the most educated generation and seek to continuously learn and evolve in the workforce.  This is a group with high expectations.  PWC calls this generation the “Ambitious Generation”, 52% feel that career progression is top priority. If they can’t see a clear career path, they will move on. As part of this growth process, they desire both formal and informal feedback regularly and on-going dialogue about their performance and work expectations. The Millennials, by Thom Rainer and Jess Rainer included a feedback process where 75% percent of Millennials responded back saying they want to be mentored by a leader. Invest in your Millennials as they respond well to opportunities for personal and professional development.


my life is my own. 

Give Millennials the autonomy they desire and they can be both innovative and creative. Millennials are not traditional workaholics like their predecessors. In The Millennials, when asked, “What is really important in your life?” family was the overwhelming first choice at 61%. They value time with family and friends and expect their desired workplace to include a real work-life balance.  They will work hard and they will work smart, but they desire flexibility in return.  Those companies who understand and respect the importance they place on relationships will be rewarded with loyalty.


connected, always.

Millennials are the first generation to enter the workplace with a better grasp of key business tools than their more senior workers.  They have grown up with technology and it is an integral part of both their personal and working life. They crave immediate feedback and instant access to information. PWC shows that 78% percent believe that access to technology makes them more effective at work and feel held back by rigid or outdated working styles. This generation is leading the pack with respect to technology and will continue to influence how companies do business.


let’s all win. 

Thom Rainer, Jess Rainer “The Millennials”

Millennials want to make a positive difference in the world and therefore look for employers with Corporate Social Responsibility values which align with their own. It isn’t just about a pay cheque; they are attracted to an employer that they would admire as a consumer. Millennials are strategically looking at opportunities to invest their time where they feel they can make a difference and with a company that is also making a difference. The old paradigm was to drive positive behaviour through competition. According to The Millennials,  a whopping 88% prefer a collaborative work-culture rather than a competitive one.

Also, referred to as the “Participation Generation”, Millennials like to contribute their ideas. Listen to them; they have great insights and fresh perspectives.


you only live once.

This is the generation who lived through 9/11 and other impactful international events. These events have shaped how they view the world. They are aware that life is short and thus focus only on what truly counts in life – YOLO.

When they have a choice between jobs, they will likely take the one they perceive to be fun. Unlike their parents, Millennials place less value on collecting material goods and instead are motivated to collect experiences. Their appetite for learning also impacts the experiences they desire. And, of course, they want to make memories!  For Millennials, serious work and a fun environment are not mutually exclusive; in fact, fun increases productivity and loyalty.

Millennials + Incentive Travel – You Are Facing A Great Opportunity

You are investing a significant amount of resources into achieving your business objectives through incentive travel. Why not maximize your investment by leveraging the opportunity to engage and inspire the employees of the future?


Ensure you are always talking to your Millennials. Ask for their input and let them help guide the direction of your program to take advantage of their creativity and innovation. Their participation can be an opportunity for mentoring and feedback. You may even want to create an incentive trip advisory group allowing for leadership opportunities and growth.


Build your communication strategy around the technology Millennials already use. Make it informative, instant and of course, fun! Let them work together in order to achieve their goals. Get creative with how you reward great behaviour. Better yet, ask them what they want!


Most of all, create fun, memory making incentive trips with the right destination, the right property and the right program. Incorporate unique experiences that they can share with their friends and family. Lots of photo opportunities are a must!


It cannot be reinforced enough how important it is to pay attention to this significant change in the workforce. Don’t believe the stereotypes; this unique generation is going to change the world … for the good. Now is the time to start the conversation and begin engaging this dynamic group before it’s too late.


Find out how Lorandus can effectively use your next event, meeting, or incentive travel program as a tool to drive business results. Lorandus has been inspiring unique and memorable events through constant innovation and creativity. Let us take your event to the next level!

If you'd prefer to speak to someone call us at 905-726-4945 ext. 111