Post on 28-Jun-2020
The information contained in this document is proprietary and confidential. Copyright © 2020, Whapps, LLC
DELIVERING VALUE T H R O U G H
NON-CASH REWARD
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O N L I N E - R E W A R D S . C O M R E W A R D S C O N S U L T I N G . C O . U K
TODAY’S SPEAKERS
Michael Levy
CEOOnline Rewards
Michael Rose
Renowned Reward Consultant
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TODAY’S PRESENTERS
Michael Levy – michael.levy@online-rewards.com
CEO, Online Rewards
Recognition Program Design expert for over 400 companies
Featured & published on CNBC, ISHN, HVACR, CRMBuyer, HREOnline, OH&S, etc.
Holds a degree in Commerce & Marketing from University of New South Wales
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A LOOK AT SOME OF OUR CLIENTS
450+ CONCURRENT
CLIENT PROGRAMS
17+ YEARS
INDUSTRY EXPERIENCE
12,000,000+
ACTIVE USERS
98% SURVEYED
CUSTOMER SATISFACTION
95% CLIENT
RETENTION RATE
FASTEST GROWING COMPANIES
12 CONSECUTIVE YEARS
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T H E W O R K P R O U D M O D E L
Discretionary Effort is the level of effort people could give, if they wanted to, above and beyond the minimum required.
WorkProud will help organically unlock and access your employees’ discretionary effort.
“How can nearly 70% of the workforce be disengaged? It’s because there is a
tremendous lack of recognition in the world today, or what I call the global
recognition deficit, and there are statistics to prove it.”-David Novak, CEO, Yum! Brands, 2019
Disengaged workers cost U.S. businesses $500 billion annually, at $3,400 per
employee for every $10,000 of salary.-McLean & Company, 2019
Over 65% of employees would stay at their job longer if they felt appreciated.-Robert Half Office Team, 2017
Business with clearly defined values and purpose:
90% saw growth and profits at or above industry average
65% of employees said they were passionate about their work-Harvard Business Review and PwC’s Strategy&, 2019
TODAY’S PRESENTERS
Michael Rose – michael@rewardsconsulting.co.uk
Renowned Independent Reward Consultant, based in London
Previous roles in KPMG, Arthur Andersen, Aon
Quoted frequently in press, radio and television; spoken at conferences around the world
Published over 25 articles and written three books
R E W A R D S C O N S U L T I N G . C O . U K6
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TWO POINTS:
Recognition/non-cash and Comp are different and do different things
Non-cash (tangible) awards can deliver much greater impact than Comp for a lower spend
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“CATCH PEOPLEDOING SOMETHING RIGHT”
Blanchard and Johnson, The One-Minute Manager
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“IN THE LAST SEVEN DAYS, I HAVE RECEIVED RECOGNITION OR PRAISE FOR
DOING GOOD WORK”One of the six most powerful of the Q12
Gallup
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DAMAGE OF POOR RECOGNITION“Recently we were very busy and a few of us worked a lot of hours to help out, but you didn’t get any thanks for it. We’re just not appreciated at work. If someone were looking for a job, I wouldn’t tell them to get one where I work.”
Susan, 43, Customer Service Representative
Working Life: Employee attitudes and Engagement Research Report, CIPD
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Informal Formal
THE RECOGNITION PROGRAMME JOURNEY
Day to day Corporate, formal, high profile
Local, informal, Low key, simple
Start Here
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$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
Personal
Differentiation
Memory value
Perceived value
80%
FIVE REASONS TO USE NON-CASH
Display
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RECOGNITION INCENTIVES
The message The prize
Low High
Reinforcement
(Intrinsic)
Expectancy
(Extrinsic)
Gift Contract
Impact
Cost & Value
Motivation
Feeling
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R E C O G N I T I O N v s . I N C E N T I V E S
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WHAT DO EMPLOYEES BUY WITH CASH AWARDS?
Survey by Wirthlin Worldwide of 1,010, quoted in Workspan
2%
5%
9%
11%
11%
11%
15%
18%
29%
0% 5% 10% 15% 20% 25% 30% 35%
Something else
Vacation
Special treat
Savings
Household items
Family gift
Never received
Not remember
Bills
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76% of people save hand written thank you notes
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• Reward is about pay or compensation
• Incentives are about meeting targets
• Recognition is about saying “Thank You”
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EFFECTIVE MOTIVATORS• Praise from immediate
manager
• Leadership attention e.g. 1:1 conversations
• Chance to lead projects or task force
Equal to or more effective than:
• Cash bonuses
• Increased base pay
• Stock or stock options
McKinsey Quarterly Global Survey
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YOU CAN’T INCENTIVISE CREATIVITY AND INNOVATION, BUT…
“Employees who receive strong recognition are 33% more likely to be proactively innovating and generate twice as many ideas as those who are not recognised frequently.”
Beckstrand, G (2016) Ways to Get Big Business Gains From Employee Recognition Workspan
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$30,000 OR A GOLD STAR?
❖ Accelerator would maximise commission for later sales
❖ ‘President’s Club’ for those selling more than 90% of peers so bring sales in earlier
❖ Sales people would ‘pay’ to join the club
❖ Club – Gold Star on their name card, email from CEO, companywide recognition and overseas trip
Ian Larkin (2009) Paying $30,000 for a Gold Star: an empirical investigation into the value of peer recognition to software salespeople
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The Role of Technology in driving Employee Engagement
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Manager-to-Employee and Peer-to-Peer Recognition
Core Value Badging
Events Calendar (for Birthdays, Anniversaries, etc.)
Custom Recognition Workflows (e.g. CEO Award)
Gamification (Instant Win Promotions)
Custom Reward Catalogs
Custom Print Materials (Certificates and Point Cards)
Admin Budget, Reporting, and Analytical Tools to Track
ROI
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WORK FROM HOME IMPACT – SINCE CORONAVIRUS
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PRIDE is fundamental to ENGAGEMENT
Align your objectives, values, and purpose
Keep people connected and engaged
Make people feel encouraged and appreciated
Enhance sense of job satisfaction and “ownership"
Increase efficiency and productivity
PRIDE – PERFORMANCE – PRODUCTIVITY
C R E A T I N G A W O R K P R O U D C U L T U R E
OverviewFocus on Driving Increased Employee Engagement with focus on Non-Monetary Awards
Solution• Story Telling / Leadership• Recognition Talent Development
Results:• 20,000 Recognitions Per Month• 12% Increase in Engagement Scores
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OverviewFocus on Employees & Culture
Solution• Peer Recognition, Manager Awards, Cultural
& Leadership Incentives• Manager Distributable Accounts
Results:• 98% participation across all employees• 2nd Highest rated perk in employee benefits
survey• BCBS NC rated as one of NC’s “Best Places
to Work”
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OverviewPeer Recognition and Sales Awards with Focus on Culture of Wellness
Solution• Social Recognition• Budgetary Controls and Custom Reporting• Gamification• Sales Promotions
Results:• Greater Communication of Sales Promotion
Opportunities and Accomplishments Among Sales Employees
• Greater Spending Visibility for Leadership
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OverviewEmployee Engagement & Recognition Program
Solution• Customer Comment Recognition/Reward• Peer Recognition, Manager Awards• On the Spot Awards• Training Guides
Results:• 81% Participation (Increased by 38% Over
Prior Program)• Improved Customer Satisfaction Ratings /
Feedback• Increased Engagement Scores
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OverviewUnified Platform For Driving a Positive Culture of Safety
Solution• Monthly Safety Topics / Quizzes• Gamification of Safety• Monthly Prizes• Celebrate Safety Accomplishments
Results:• 75-95% Increase in Improved Safety Results,
Reduction Injuries, Improved Awareness (By Location)
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OverviewEngaging Millennial Population with a Focus on Non-monetary Recognition
Solution• Gamification• Formalized Award Processes• Public / Social Recognition
Results:• Consistent Year-Over-Year Increases in
Participation & Engagement
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Questions?
A S e r v i c e o fMichael Levy
CEO,
Online Rewards
michael.levy@online-rewards.com
Michael Rose Director,
Rewards Consulting Limited
michael@rewardsconsulting.co.uk
o n l i n e - r e w a r d s . c o m
The information contained in this document is proprietary and confidential. Copyright © 2020, Whapps, LLC
THANK YOU!
M A Y 1 5 t h , 2 0 2 0
O N L I N E - R E W A R D S . C O M R E W A R D S C O N S U L T I N G . C O . U K