Making Work Human and the ROI of Social Recognition€¦ · with effective recognition 12x stronger...

Making Work Human

and the ROI of Social Recognition

Julie Zadow

Vice President of Marketing

Globoforce

Session Sponsor

Carol Pandza

SVP and Chief Human Resources Officer

AmeriHealth Caritas

MAKING WORK HUMAN: THE CULTURAL AND FINANCIAL ROI OF SOCIAL RECOGNITIONMay 17, 2016

Julie Zadow

Vice President of Marketing, Globoforce and Executive Director, WorkHuman

THE EVOLUTION OF THE WORKPLACE

GARY HAMEL

For the first time since the industrial revolution you cannot build a company that’s fit for the future without building one that’s fit for human beings.

THE HUMAN DECADE

WORKHUMAN

2x Stay twice

as long in their jobs

10xTake ten times

less sick leave31%Rise in productivity

Source: Wall Street Journal / iOpener Institute and Shawn Achor

11 |

Free food and ping-pong tables are fun perks, but companies that succeed in having highly engaged

employees focus intently on driving meaning,purpose, and passion among workers.

Physiological Needs

Safety Needs

CONNECTED

VALUED

HAPPYMaslow’s

HIERARCHY

BASE SALARY

BENEFITS, HEALTHCARE, INSURANCE

RECOGNITION

@1%

99% OF

BUDGET

Maslow’s

HIERARCHY

WorkHuman Research Institute: 2016 Survey Report

HAVE YOU BEEN

RECOGNIZED IN THE PAST

MONTH?

20%OF EMPLOYEES HAVE BEEN RECOGNIZED IN THE PAST MONTH

WOULD YOU WORK HARDER IF

YOU FELT YOUR EFFORTS

WERE RECOGNIZED?

78% OF EMPLOYEES WOULD WORK HARDER

Workforce Mood Tracker Survey, 2012

83% OF EMPLOYEES WOULD FEEL MORE ENGAGED

WorkHuman Research Institute: 2016 Survey Report

2X MORE HIGHLY ENGAGED

34% MORE LIKELY TO BELIEVE THEIR COMPANY WAS A BEST PLACE TO WORK

35% MORE LIKELY TO SAY THEIR CULTURE IS FUN AND ENJOYABLE

37% MORE LIKELY TO BELIEVE THEIR COMPANY CARES ABOUT THEM AS A PERSON

The engagement level of employees who receive recognition is 3 times higher (76%) than the engagement level of those who do not (28%).

“When employees receive acknowledgment and recognition for a job well done, their need for recognition is satisfied and thus they are motivated to pursue other needs such as growth and self-actualization or engagement in their work.”

60% increase in engagement from recognizing employee performance

BENEFITS OF RECOGNITION

31% lower turnover at companies with effective recognition

12x stronger business outcomes at organizations with most sophisticated recognition practices

60% of Best-in-Class organizations stated that employee recognition isextremely valuable in driving individual performance

90%of companies using values-based recognition report marked increases inemployee engagement

SOCIAL RECOGNITION

Employees' programViral participationEveryone on lookoutPositivity flows with workCommunity experienceCalibrated award levels

Smaller rewards throughout the year

BIG IMPACTTHE CULTURAL AND FINANCIAL ROI

OF RECOGNITION

HERSHEY – SMILES

100k+recognition moments since launch 2 years ago

11% increase in employee engagement scores in the first year

7% increase in employee satisfaction scores in the second year

JETBLUE – LIFT

For every 10 percentage point increase in recognition, JetBlue saw:

Engaged crewmembers are:

3%2%

Increase in retention

Increase in engagement

3x 3x more likely to “wow” customers

2x More likely to be rated as a role model

2x More likely to be in top 10% of Net Compliments

96% OF EMPLOYEES WHO

FEEL MOST RECOGNIZED ALSO

REPORT BEING MOST ENGAGED

97% REACH IN THE FIRST

YEAR OF THE PROGRAM

LINKEDIN

BRAVO

100% IMPROVEMENT IN

SATISFACTION SCORES

34% IMPROVEMENT IN

RECOGNITION PARTICIPATION

BEST VACATION EVER

“Mostly, I think it’s awesome to work at a company that values its people like this. I think Cisco hits the sweet spot in balance between results and caring about people.”

Steve: I think you are an unsung hero of Baystate. When our patients, families and employees come to Baystate, they are welcomed by immaculate lawns and flowers and it makes a positive impact on our image. Although I have never met you…I have long wanted to give you a shout

out for your work ethic and dedication. Thank you!

doctor at Baystate Health

Positive energy feeds positive energy…

Someone does something outstanding and it makes me feel great; I recognize them on Bravo and then it makes

them feel great; then they send me a thank you for recognizing them and then I feel great all over again!

Employee at Cardinal Health

Making Work Human and the ROI of Social Recognition€¦ · with effective recognition 12x stronger...

Documents

Transcript of Making Work Human and the ROI of Social Recognition€¦ · with effective recognition 12x stronger...