When & How To Start A Reward & Recognition Program

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When and How to Start a Reward & Recognition Program



Ben PetersonCo-founder and CEO

BambooHR

Jason CorselloVP of Corporate Development & Strategy

Cornerstone OnDemand



HR can be more strategic by focusing on reward and recognition.



Reward and recognition is a proven engagement tool.

“Seventy-eight percent of employees would work harder if they were better recognized.”

—Globoforce



Reward and recognition retains top talent.

“Nearly half of employees said they would leave their employer for a company that recognized employees for their contributions.”

—Globoforce



When using reward and recognition, your business will see measurable results.

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

—Josh Bersin



It’s clear reward and recognition helps in so many areas. Yet we aren’t doing it.

“Only 12 percent of employees say they often receive appreciation for great performance.”

—Towers Watson



So why aren’t we doing it?

• Time

• Uncertainty

• Priority



Instead of focusing on who to reward and recognize, learn how to identify

what to reward and recognize.



Reward based on behaviors and actions—not titles and

departments.



• Telecommuting has increased 80 percent recently and

continues to grow.

• Make sure you’re extending your workplace culture to

everyone, not just those physically in the office.

• Link the way remote employees’ achievements align with the

broader, overarching company goals.

Don’t forget about your remote workforce



Rock Stars Most Improved Departmental Wins Be Creative!



When to Recognize v. When to Reward

“To win in the marketplace, you must first win in the workplace.”

—Doug Conant, Campbell Soup



• Intangible

• Relational

• Experienced

Recognition

• Tangible

• Transactional

• Consumed

Reward



Don’t wait and do it often.

“Most employees want some type of recognition every 7 days!”

—Towers Watson



Know Your People.



Don’t lump recognition in with criticism.

Make sure to designate a separate time to recognize and to point out

what could be improved.



Make reward and recognition a habit. Make it part of your culture.



How to get started…



Successful leaders use praise effectively.

“We all need people who will give us feedback. That’s how we improve.”

—Bill Gates



Be collaborative:

Nominations

Anonymous Feedback

Invite Ideas for Recipients and Prizes



Recognition means nothing if employees do not feel like it is honest and deserved.

Show employees it is.

Most Importantly:• Be Genuine

• Be Transparent

• Be Fair



It’s up to leadership to make feedback a cultural value

in the organization.

User

Is this a repeat of slide 20?



BOTH being nominated and doing the nominating bring feelings of

EMPOWERMENT.



Peer-to-peer recognition = a true illustration of the

social environment

“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.”

—Josh Bersin



Don’t wait until you have a full-fledged recognition & reward program running.



Reward on a small or mid-sized budget:

• Align spiffs and bonuses with performance.

• Provide additional training or career development.

• Company lunches, gifts cards, food.

• Tickets: movies, concerts, plays, games.

• Chairs, headsets, extra monitor, laptop, new phone.



Reward a remote or scattered workforce:

• Give team-building experiences.

• Provide faster equipment or efficient tools.

• Send swag—with the company values.

• Provide a company social forum for communication.

• Allow employees to reward each other.

• Share, involve, communicate.



“We are what we repeatedly do. Excellence, therefore, is not an act, but a habit.”

—Aristotle



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Thank you!



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When & How To Start A Reward & Recognition Program

Business

Transcript of When & How To Start A Reward & Recognition Program