Showing posts with label Total Rewards. Show all posts
Showing posts with label Total Rewards. Show all posts

Sunday, May 22, 2011

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

Thursday, April 1, 2010

The Ripple Effect

Last week we talked about producing a Ripple Effect in the workplace to inspire a 'pay it forward' mentality. We used the Disneyland Formula:
If a woman sees her son laughing his face off on a roller coaster, I guarantee all the frustration of parenting escapes in that moment. She is filled with the irreplaceable joy of giving life and growing it. So when they hop off that ride and she holds the door for a guy who is frustrated that the vacation is not going as planned maybe he will remember why he is at Disneyland. That hug that Gentlemen gives to his wife may help her remember why she loves him. And so a Ripple Effect is produced......why can't your office be the Happiest Place on Earth.

I am asked daily to help organizations determine the ROI of recognition. It is not an easy question to answer and I do not believe in stretching the truth to pontificate a presumed point. But, if we review the example above, everything depends on our interactions and their positive outcomes. Will your company go out of business if you do not appreciate the people who work hard for your organizational cause....probably not. But, if you hire great people they have choices. So let's ponder the cost of the following:
* What does it cost to hire, train and onboard a new employee?

* If your company was 10% more productive would it be worth it to give each of your employees a $100 gift card?

* What is the savings to your organization if every employees stay onboard for at least 5 years?

* If non-incentive based departments were given rewards for performance would they perform better?

* If a customer service rep got a pat on the back from a Sales Rep for every order they completed would this expedite their process for order completion?

Bottom line, if you appreciate your employees in a formal manner through nominations, spot awards, service celebration and performance incentives your business results will increase. The expense of an i-pod is not greater than the benefit of completing a project a week early and sending 6 temps home.

Rewards without meaningful delivery and an according company culture are meaningless. We need to produce a Ripple Effect.

Find out how next week......

Don't Forget to Remember

Dave