Incentives and Recognition Gillian Tierney Vice President Human Resources 2011.
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Transcript of Incentives and Recognition Gillian Tierney Vice President Human Resources 2011.
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Incentives and Recognition
Gillian TierneyVice President Human Resources
2011
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© Copyright 2007 Newmarket International Inc. 2
Agenda
Company Overview PhilosophyIncentive ProgramsRecognition ProgramsTaxesBudgetThings to avoid
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© Copyright 2007 Newmarket International Inc. 3
About Newmarket International
Newmarket International, Inc. is the leader in delivering group sales, catering and banquet software solutions to the global hospitality and entertainment industries
325+ employees worldwide with offices in Portsmouth, California, London, Singapore, and China
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© Copyright 2007 Newmarket International Inc.
Incentives vs. Recognition
Incentive:something that incites or tends to incite to action or greater effort
Recognition:the acknowledgment of achievement, service, or merit
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© Copyright 2007 Newmarket International Inc.
Newmarket’s Philosophy
Incentives and recognition are tied to company goals, values, customer service, and performance
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Incentive Programs
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© Copyright 2007 Newmarket International Inc.
EBITDA Bonus Program
Program for employees to share in NI’s success!EBITDA--Earnings Before Income Tax, Depreciationand Amortization expenses
EBITDA Profit Sharing Bonus for eligible employeesEligibility—employees not in any other incentive or commission programNew hires joining October 1st or earlier; pro-rated by start date% of base pay based on positionBonuses paid if NI meets 100% of target
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© Copyright 2007 Newmarket International Inc.
Other Incentives
Merit based salary reviewsCommission incentive for salesPresident’s Club for SalesStock optionsContestsGreen incentives
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© Copyright 2007 Newmarket International Inc.
Wellness Incentives
Biggest Loser Contest - $250 prize$250 raffle to complete a HRALower premium for High Deductible Health plan
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Rewards and Recognition
Programs
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© Copyright 2007 Newmarket International Inc.
General Strategies
Tie to goals, values, service, and performanceMix of core and new programs Mix of management and peer recognitionMix of public and privateMix on monetary and nonmonetaryRewards for funCelebrate Success
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© Copyright 2007 Newmarket International Inc. 12
People’s Choice Award
People’s Choice AwardQuarterly award to acknowledge an outstanding employee Winner receives a 3 day tripNominated and selected by employeesAwarded at quarterly company meeting
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© Copyright 2007 Newmarket International Inc.
Peer/Manager Recognition
FWD AwardEmployee recognition program Aligned with company marketing themeEmployees complete FWD coupons to earn points
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© Copyright 2007 Newmarket International Inc.
FWD Awards
Each recognition earns 1 point for the following prizes:
1st Point= NI FWD Key Chain3rd Point= NI FWD Water Bottle5th Point=NI FWD Hooded Sweatshirt10th Point= Raffle for $250 Amex Gift Card
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© Copyright 2007 Newmarket International Inc.
Give’ em the Pickle
Newmarket’s Customer Service Training Program
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© Copyright 2007 Newmarket International Inc.
Years of Service Awards
5 years - desk set and $5010 years- clock and $10015 years – crystal award and $150
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© Copyright 2007 Newmarket International Inc.
Management Recognition
Thank youPrivate recognitionEvents Celebrate Wins Newsletter
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© Copyright 2007 Newmarket International Inc.
Rewards for Fun
½ day FridaysGive A WaysCompany Meeting Games and PrizesFamily Events—Summer BBQ, HalloweenFree tickets to museums and other venuesCausal Dress CodeNew baby blankets
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© Copyright 2007 Newmarket International Inc.
Rewards for Fun
Joy GangMonthly Employee Social/Fun Events
Roller skatingBowling nights Nacho Bar on Cinco de MayoIce Cream TruckCooking/Baking contestsBingoFood, food, and more food
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© Copyright 2007 Newmarket International Inc.
Rewards for Giving
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Newmarket provides employees with 2 volunteer days per year!
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© Copyright 2007 Newmarket International Inc.
Fringe Benefit Tax
We typically don’t tax:Anniversary gifts for years of serviceMeeting give-a-ways (sweatshirts, movie passes, etc..)Prizes (water bottles, water country tickets, key chains)Gift certificates
We typically tax high value awards such as:Trips (People’s Choice, President’s Club)High value sports tickets High dollar cash awards
We make our best effort
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© Copyright 2007 Newmarket International Inc.
Budget and Management Buy In
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© Copyright 2007 Newmarket International Inc.
Things to avoid
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Thank you and questions
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© Copyright 2007 Newmarket International Inc.
Table Discussion
What incentive and recognitions programs do you already have in place?
What are your biggest challenges with incentive and recognition programs?
What is one item you can take away from this session today to implement at your company?
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Incentive & Recognition Programs
Karen Brieger
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Melbourne, AUS
Linden,Germany
La Défense, France
Hook, UKReading, UK
Hertford, UK
Portsmouth, NHGreat Neck, NYEast Brunswick, NJ
Raleigh, NCAlpharetta, GA
Portland, ME
Bottomline Technologies
New Zealand
London, UK
Wilton, CT
Marlton, NJ
1,000+ EmployedWorldwide
Offices in US, EMEA &
Asia-Pac
NASDAQ: EPAY
Revenue $189M
9,000+ Global Customers
80 of the Fortune 10070 of the FTSE 100
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Guiding Principles
• Focus on Customers and Commit to Their Success
• Innovate, Communicate, Win and Grow
• Work With and For Each Other
• Do the Right Thing
• Create and Grow Sustained Business Value
• Be a Company of Which All Can Be Proud
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C1 – First Class Customer Care
• Walk in the customers shoes
• ‘Know Your Customer’
• Grow our business through service excellence
• Identify business areas where C1 can have a bigger
impact
• Ensure we have the skills and capabilities to effectively communicate and execute against our C1 goals
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Programs
• Thank you’s• “Happy Monday”• Newsletter• Employee of the Quarter• C1 Customer Execution Award• On-The-Spot Bonus• Project based bonus/rewards• Training opportunities
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Programs
• Quarterly bonus (all levels)• Training opportunities• Challenging work opportunities• Equity Awards• Gift Cards• Wins!• Tenure – Only 10 year• Food!
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Housekeeping
• Taxes• Budgets• Administration
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Recommendations
• Different people, different motivations• Drive your culture• Thank you goes along way• Incent the right behaviors• Don’t be afraid to try
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Dawn BarkerVP of Human Resources
Incentives and Recognition
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About RiverWoodsAbout RiverWoodsRiverWoods is a continuing care
retirement community, located in Exeter, NH. We have three campuses that enrich the freedom of senior living while easing the challenges of aging.
475+ employees throughout the three campuses.
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RiverWoods’ PhilosophyRiverWoods’ PhilosophyIncentives and recognition are
tied to our commitments and core values. They are an expression of the relationship shared between residents and staff.
Our commitment to staff and residents to encourage personal growth and remain at the forefront of excellence in senior living.
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Incentives
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Wellness IncentivesWellness Incentives
The goal of the program is to create opportunities for everyone to achieve their optimal health and well being. Everyone’s wellness journey looks different and RiverWoods wants to help each employee on their journey by providing resources and support to help them achieve their optimal health.
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Wellness IncentivesWellness IncentivesEach employee has the opportunity to
earn $275.00 over the fiscal year, July 1, 2011 to June 30, 2012.◦$50.00 for having your annual physical and
“knowing your numbers” (all employees)◦$75.00 for completing the Harvard Health
Questionnaire (benefits eligible employees)◦$100.00 for Dream Activity/Employee
Physician Initiative (all employees)◦$50.00 Participation in Get Fit in May 5k
Event or another like event (all employees)
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Incentive in ActionIncentive in Action
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Wellness Incentive Wellness Incentive ChallengesChallengesHuman BehaviorEveryone is motivated by
something differentPayroll/TaxesCommunication
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Financial IncentivesFinancial IncentivesBased on our compensation
philosophy Offered based upon goals and
business objectives. For some positions base plus
bonusExceptional JobSnow BonusAbove and beyond
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Recognition
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Gold Level ServiceGold Level ServiceEmployees are nominated by
anyone in communityEmployee CommitteeService Recognition AwardsGold Level Service Awards
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Gold Level ServiceGold Level ServiceRecognized at Quarterly All
Employee MeetingNomination read by managerAnnual Recognition Dinner
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Instant RecognitionInstant RecognitionAvailable in various areas
throughout communitiesSmall note cardsAnyone can recognize someone
else INSTANTLY!
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Departmental RecognitionDepartmental RecognitionES Week/Prizes and GamesNursing WeekPat on the BackHand written notesPrivate Recognition
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The Power of Thank YouThe Power of Thank YouLeadership DevelopmentPositive Work Environment
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Years of ServiceYears of ServiceQuarterly All Employee MeetingsOne Year – pin/certificateFive Years – item from employee
storeTen Years - $100Fifteen Years - $250
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ThanksgivingThanksgiving$20.00 Market Basket Gift CardLetter from CEOCan donate to a local food bank
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Informal RecognitionInformal RecognitionCornerstone of our communitiesRelationship between residents
and staffCelebrate each other
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Fringe Benefit TaxFringe Benefit TaxGross up wellness incentives and
RW pays the tax, run incentives through payroll
We do not tax other awards/incentives
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Budget and Management Budget and Management Buy-InBuy-InEach department has budget for
recognitionHR develops organization’s
budgetManagement buy-in, link
between mission/culture
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ChallengesChallengesLink incentives and rewards with
what the organization’s goals/strategy is
Everyone is an individual