By Tim Zanni
One of several fascinating findings in KPMG’s new technology industry innovation management report is that millennials working in the technology industry, by a wide margin, believe financial incentives are the most effective method to motivate employees to innovate. It’s critical for business leaders to understand what motivates this significant segment of the workforce given the raging war for talent in the technology industry.
Much has been written about how important job factors such as flexibility, career progression, and giving back to the community are to millennial workers. Yet in our survey, millennials chose financial incentives by a greater than two-to-one margin over other methods. This finding should not be that surprising. The oldest millennials are now in the 35 – 39 age group, and 35 is the age at which consumers traditionally start migrating into the most significant spending period in their lives. The focus of technology sector millennials on financial incentives may be the result of increased spending and life choices that require greater investment like buying a home or starting a family.
We also compared the millennials’ position on innovation motivation to that of global technology industry business leaders. Technology leaders ranked financial incentives and career progression closely together as the best motivators for workers to innovate, while the second-ranked motivation for millennials was the percentage of their work time allocated to innovation.
To read more technology industry insights on driving, measuring, fostering, and overcoming barriers to innovation see our new report.
To learn more or to arrange an interview with Tim Zanni, please contact Mike Alva, mobile (925) 878-5488, firstname.lastname@example.org, Twitter -- @michaelalva.
Download the KPMG report, Managing technology innovation