How to Build Productivity Through Reward and Recognition

How to Build Productivity Through Reward and Recognition
bamboohr.com cornerstonePhootno dbye Gmattao nMdim.mcoo gmioc oso

Why Focus on
Employee Recognition?
bamboohr.com cornerstoneondemand.com

“Employee recognition is the
number one factor when
motivating employees in
the workplace.” No. 1

69% of employees would
work harder if they were
better recognized.

People will improve the
things they’re recognized for
so they can earn even more
recognition.

of employees find it annoying
when they are not recognized
for the accomplishments
they contribute to the team
and company. 82%

of employees would leave
their job for a company that
recognizes its employees. 49%

“People who have high self-esteem . . .
are willing to take intelligent risks because
they have confidence in their ideas
and competence.”
—Nathaniel Branden, author of The Psychology of Self-Esteem
and Self-Esteem@Work

“Organizations that give regular thanks
to their employees far outperform
those that don’t.” —Josh Bersin

“Whenever you are recognized and
praised for any accomplishment by
someone whose opinion you hold in high
regard, your self-esteem goes up, along
with your eagerness and enthusiasm to
do even better on the job.”
—Brian Tracy

Did you know employees
want some form of
recognition every 7 days?

Yet only 12 percent of
employees say they often
receive appreciation for great
work. 12%

“Employee recognition isn’t rocket
science – it is an obvious thing to do.”
—Kim Harrison, author

The workforce is changing.
By 2020, half our workforce
will be millennials. 1/2

Compensation is still
important, but these days
employees are looking
for more.

Incentives help engage
employees and organizations.
With higher than average
engaged employees, companies
saw 27 percent higher profits. 27%

4 basic human drivers that
incentives can tap into:
• The Collector
• The Killer
• The Socializer
• The Explorer

“What’s absolutely critical…is that the
organization celebrates success. Those
who perform must be recognized. Their
behavior and its results must be
reinforced . . . Give positive feedback to
those responsible for execution success
and making strategy work.”
—Dr Lawrence Hrebiniak,
Professor of Management in the Wharton School

Actions that align with
company’s goals and strategy.
“Too many CEOs and managers focus on bottom
line results without thinking about how it feels to
slog away and work without anyone saying thanks.”
—Kim Harrison, author

Big and small wins.
“Regular minor boosts from ordinary activities
can have a cumulative and lasting effect.”
—Harvard Business Review

Being a team player.
“[Teamwork] is the fuel that allows common
people to attain uncommon results.”
—Andrew Carnegie, American Industrialist & Philanthropist

Types of recognition people
really want
• 30 percent want opportunity to grow in the company
• 28 percent just want praise
• 24 percent want a reward (money or gift cards)
• 10 percent say no reward is needed
(They now need you to tell them they’re doing a good job)

Most critical: Give honest
and justified recognition.

“A person who feels appreciated will
always do more than what is expected.”
—Author Unknown

So . . . how can you
best reward employees?

Objectively (and transparently)
identify who deserves reward
and for what

Figure out how much value the
work contributed

Decide—as an organization—if you want to
reward only the big wins and successes or
the milestone steps and wins along the way.
But consistency is important.

Communicate. Communicate.
Communicate.

Showcase and reward.

Don’t wait.

Allowing recognition from
peers, as well as superiors,
goes a long way.

“Recognition is not only something
executives should do – it should take place
throughout the organization. The research
clearly shows that top-down recognition is
not what makes companies thrive today –
it’s recognition by your peers, the people
you work with every day.”
—Bersin, Forbes

Not all are about bonuses,
raises, or even cash. 46% of
incentives offered by US
companies are non-cash
incentives. Don’t be afraid
to get creative!

Ideas to recognize employees
without spending a penny!
• Send a personal note that specifies exactly what the employee did
• Say a sincere “thank you”
• Recognize a job well done in a meeting or applaud
• Send a shout-out around in your company’s private social site
• Mention their success story in a speech or presentation or even newsletter
• Give a long lunch or extra break or “free pass” day
• Arrange for higher manager to stop by and say thanks
• Offer to swap a task with them
• Flex hours or let them work from home
• Create a “Wall of Fame” or special award where you recognize them

“A true leader . . . takes his or her team
members' accomplishments as a point
of pride, and recognizes that the mark of
a great leader isn't creating followers—
but instead developing other leaders.”
—Bill Murphy Jr., Forbes

Thank you.

How to Build Productivity Through Reward and Recognition

Recommandé

Recommandé

Contenu connexe

Tendances

Tendances (20)

En vedette

En vedette (6)

Similaire à How to Build Productivity Through Reward and Recognition

Similaire à How to Build Productivity Through Reward and Recognition (20)

Plus de BambooHR

Plus de BambooHR (20)

Dernier

Dernier (20)

How to Build Productivity Through Reward and Recognition