Everyone loves a gold star or a pat on the back, but a new study by Workhuman and Gallup indicates that formal recognition – that “good job” and ‘way to go’ –  may carry more weight for workers than managers realize.

As Gen Z enters the workforce en masse, experts say there’s a culture shift, with younger employees expecting more recognition for the work that they do – in AND outside of the workplace. While nearly 3 in 10 Baby Boomers strongly agree the amount of recognition they receive matches their contributions, only 18% of Gen Z workers believe they get the right amount of recognition for the work they do – in addition, Gen Z reports a higher frequency of acknowledgment. And here’s where it gets real for employers: Employees who feel properly recognized for work and life milestones are 30+% more likely to see themselves at the same company in 5 years.

Just what does that recognition look like? Dr. Meisha-Ann Martin, Senior Director of People Analytics and Research at Workhuman, and Ed O’Boyle, Global Practice Leader at Gallup, join the show with more highlights of the survey, including the value of formal recognition programs and the differences between Baby Boomers in senior leadership and their younger coworkers.