Trends in Employee Recognition

In May 2011 World at Work released a report on Trends in Employee Recognition. Much of the information in this report confirms what we know about this facet of employee rewards. There were a few head scratchers. Today, we will investigate the head scrathers...


Disbursement Strategy
70% of organizations offer 3 to 6 different recognition programs. This raises the question as to whether there is a synchronized strategy in delivering these various programs. Let's say the transportation supervisor rewards his/her crew for workplace safety while the sales team administers an incentive performance program. These programs are unique to their organizational sub-culture but they could benefit a larger organizational strategy. Why is safety limited to the operational workforce? Why are incentive programs limited to sales? If the right hand and the left hand are on different dials can the body actually work in harmony? The aforementioned programs run famously within their respective branches of the company but why can't the rest of the organization benefit from their success? If a tree falls in the warehouse, and nobody sees it, does it really count against your insurance premium?

Who's The Boss?
The majority of those surveyed for the World at Work report revealed that Senior Management was neutral to their Employee Recognition programs. We now discover an indifference from those in the boardroom in addition to the unsynchronized strategy. An employee works all weekend to complete a project, a rookie sales executive develops an up-selling initiative, an administrative assistant celebrates 30 years with the company....and the CEO is unaware. That is a shame!

Happy Anniversary
90% of organizations celebrate employees on their service anniversary. The most commonly distributed reward.......A certificate.

One Source - Total Recognition
The employee recognition trends of 2011 are not new. There continues to be a few areas of concern:
1. Inconsistent Strategy
2. Lack of Senior Management Attention
3. Poor Execution in Recognizing Employee Performance

Employee Recognition is the most important element of any organization. Employees leave companies because they feel their hard work is not validated. What makes your company unique? Are you celebrating your irreplaceable differentiators? Everyone in the company should be aware when an employee completes a special achievement. A certificate can mean the world to someone if it is presented in the right way by the right person.

The most meaningful professional reward I ever received is a watch. I'm sure it is valued at under $100 but to me it is worth a million dollars. It was presented to me by my peer's slightly after I was overlooked for a promotion. Their kindness revealed to me that I didn't need a title to be a leader, that my fellow team members mattered just as much as the area VP, and that my effort had changed people's lives for the better. My most treasured gift dispels a few preconceived notions:
* It's a logo-ed watch and I like it.
* The dollar value of any gift is insignificant.
* Praise from any angle feels good.

I've heard CEOs say they don't believe in rewarding people for doing their job...shameful! I've heard employees say they do not want to be embarrassed by being recognized for their achievements....that's a lie! Managers think employees would rather receive a Starbucks card than a watch...have you ever had a cup of coffee that you will never forget?

We humans need to know that our time and effort is worth something. We spend most of our waking hours at work so the least we can do is leave (or better yet arrive) every day with a smile....

Don't Forget to Remember!

Dave

Are You A Commodity?

A company had some explaining to do to their investors. Apparently the majority shareholders were not content with the company's acquisition and property management strategies. There is too much $ out and not enough coming back. I guess this is a concern if you are banking money into a fund and seeking returns.

My question: What Does This Have to Do with How the Company Operates?

The Board is watching margins, dividends, stock prices and projections...I would be more concerned with how the Employees are being treated!

Doesn't it stand to reason that if you treat employees well they will produce. If employees produce, profits increase, and share holder value goes up. I know there is a formula that drives a grading scale that makes a company a viable on Wall St commodity. But, the people working 12 hour shifts to pay the mortgage probably don't see their company as a commodity.

If I was in charge of driving revenue I would focus on 3 areas:
* Retaining Talent
* Creating a Unique Corporate Culture
* Mid-Level Leadership Empowerment

$120,000,000
That's how much it costs a 20,000 employee company to turn over 7.5% of it's workforce (a below average turnover rate). That's just the hard cost. Client relationships will suffer, product development will be slowed, those with valuable system comprehension will never get to mentor their successor.

You lost $120m, a few flagship clients, and irreplaceable workplace knowledge because you forgot how to say THANK YOU!

People leave employers for one reason: the light at the end of the tunnel fades out.

There has to be a daily validation of effort. A Development Path and Applicable Skill Training is all any hard working person needs. That, and a pat on the back when they perform well.

It's that simple!

What Makes This Place Unlike Any Other?
Next time you are in an interview ask that question. If you get any type of answer odds are the company is trying to discover their greatness. That's all any great employee can ask for.

The understanding of what makes your company great is the recognition of your differentiator. Not all hiring managers can answer the aforementioned question.

Thought Leadership on the Rocks
Every company has a CEO with Vision. All Executive Leaders are smart as hell. You don't get a seat in the boardroom by being a dum dum.

The Problem: The bigger the company gets, the more layers we build between the idea and the people who are charged with carrying it out.

I used to travel across the country to hear our CEO speak. It was worth it. After a week of being back home, I could not remember his message. This because the multi-layers of 'management' between the CEO and I were so thick. The message transformed from Vision to Warnings.

Middle Managers are those who carry the torch in your organization. These are the folks that interface at closest range with the revenue producers and customers. They are underpaid, they are powerless to fire anyone, they have 'rules' thrown down from 20 stories up, hiring is a constant, and they make less money than their top producers. As Middle Managers are forced to become politicians, Leaders become Babysitters - No Fun!

Most companies fail to understand that empowerment to the people with their feet on the street is far more important than repurchasing stock or issuing dividends.

I know what you are saying: there will be no employees if the company is spending money it doesn't have. I get it. I simply wish companies would focus on the little people's blood, sweat, and tears (more than numbers on a report).

Don't Forget to Remember!

Dave

Embrace Impossible

It's the 5th Installment of the Employee Purpose Perspective (EPP) and our task today is simple:
Embrace Impossible

When you join a new company the outstanding performer pulls you aside and lets you know, "how things are done around here".

Some see the extending of the olive branch as an honor. Others see proposed limits on the standard for success. It is simple to look at the best, admire their talent and strive to be like them. You can also understand that top performers want to stay at the top and every new team member may serve as a threat to their throne. Don't get me wrong, I despise internal competition, I also dislike the abuse of tenure!

Everyone has a plateau and it is horrifying to see the great fall from grace. Those who cling to the past do so because they have lost their ability to repeat greatness. Allow not proposed limits to keep you from exceeding the norm and redefining the standard. There is nothing impolite about doing the best you can, it helps everyone get better! If ever you are told to 'slow down' you know you have victory in your clutches. Never Slow Down...re-establish the standard.

Possibility is merely a metric of what has been. That time is past and there are no limits to where we go from here! If you are willing to accept the norm, you should stay in bed. If you are comfortable playing second fiddle, you shouldn't join the band. You belong on the field not on the bench. Allow no one to set the standard for you.

3 Keys to Achieving the Impossible:
Consider the Source
Give Yourself Credit
Do Not Entitle

The Best?
The team's number one producer is often not the most credible resource. Some people get lucky, others know how to work the system, there are those who use their resources well, and others that are massively disciplined in their approach. There is nothing wrong with succeeding by the means that fit your personality.

Warning: Do not assume 'top producer' means most knowledgeable!

What Got YOU here?
I was once told to go to the team's top producers to understand the formula for success. None of the advice I received made sense. I asked an employee in another department what he thought? He said, "If they define success, you should consider yourself a leader already"!

It made sense...be humble in seeking advice but don't take it as gospel. Don't forget who you are, what got you here and the achievements that got you hired. Don't think because you are the 'new girl' that you cannot be a leader.

Round Here....
Titles, tenure and earning statements don't tell the whole story. You do not need a trophy to prove your worth. You don't need to be at the top of the ranking report to know you are great at your job!

Think about who you really want to be and start from there. No one reserves the right to define boundaries for you. Maybe you have failed to establish the success you had five years ago....that does not mean you cannot get back there. Maybe you are the best on the team, that doesn't mean you have plateaued.

Think of your life's greatest achievements, keep them in your heart, and take the Glory back.

There is nothing you cannot achieve if you define, for yourself, what is possible.

When you get to the top of the mountain turn around and do it all over again.

There is no Finish Line!

Don't Forget to Remember!

Dave

Benefits by the Numbers

In October of 2010 I took to LinkedIn to engage the top producers in their respective fields. The intent being to discover what top talent is
looking for in an employer and what said employer needs to retain said
talent.


The survey includes a generational perspective of:
* Benefits
* Pay Scale
* Expected Tenure
* Opportunities for Advancement
* The Importance of Recognition of One’s Achievement

The results clarified some forgone conclusions and debunked others.

Study Summary:
1. Google remains the Employer of Choice
2. Cash is still king, but a fun loving work environment is more important
3. Lack of pay is the last reason for leaving an employer
4. A Bad Boss is the number 1 reason for employee departure
5. Recognition from Senior Leadership is significantly more important than recognition from one’s peers
6. Top performers are seeking long term employment
7. Pay by performance is equally important as salary
8. Employees need to be recognized for their achievements at least once a month

The glaring facts
Our ability to conduct our work day at our own pace, to have a company vision we believe in, an opportunity for advancement and the need to 'have fun' at work are now the driving factors in the job search of those who have options.

What we didn't consider
Money is less a driving factor in employment than it used to be.

Generation Y has been categorized as the validation generation...our survey debunks these stereotypes in indicating that everyone wants to be recognized for their effort (at least monthly).

Despite the 'job hopping' categorization of today's workforce, our survey shows the majority of Top Performers are seeking long term employment (10+ years).

A Bad Boss can drive anyone from any company.

Statistics and case studies are everywhere. The default to many surveys is who is conducting them and what do I stand to lose by being honest.

It is my conclusion that this random survey of the Best of the Best gives us dependable data.

Note to Employers:
Big pay checks and generous benefits do not make up for lack of leadership
Everyone needs to hear Thank You!
Your company culture is what drives retention

Listen and implement requests from the field. Validate effort in a genuine manner. Create fun and a vision to believe in....Lead by Example.

Don't Forget to Remember!

Dave