“People work for money but go the extra mile for recognition praise and rewards.” Dale Carnegie clearly was onto something when he said this. So, how will your organization seek to celebrate team successes and recognize exceptional performances in the New Year? This week’s curated articles will get you thinking more about employee recognition and its link back to productivity, retention and more. Enjoy!
1) Trends in Employee Recognition from HR Trend Institute
Employee recognition programs, once considered a “nice” but non-essential component of human resources, have changed dramatically over the past five years. This shift parallels a growing understanding of the importance of retaining top-performing employees and re-engineering employee recognition as a core business function. What’s behind this change? Numerous studies demonstrate “that when companies include employee recognition as a line-item, employee behavior increases across engagement, productivity, retention, customer service, and morale.” What trends have emerged in the recent past and what do they tell us about how employee recognition programs will be defined in 2017 and beyond?
2) 4 Meaningful Ways to Recognize Exceptional Employees from Customer Think
During this holiday season, many managers are grappling with annual performance reviews, year-end bonuses, and planning for 2017. It may surprise some that money isn’t the most effective recognition of a job well done. According to a global survey of more than 1,000 executives, non-financial incentives can be a more effective motivator than financial incentives.
The impact of financial incentives is often short-lived. The reason being employees typically use cash bonuses to pay down debt or purchase everyday items that lack emotional value.
While year-end is a common time to dole out performance-based cash bonuses, this practice tends not to recognize the value of employee contributions in a timely manner. Thoughtful customer experience (CX) Leaders have found ways to consistently recognize employees throughout the year for a job well done. Here are 4 ways to recognize exceptional employees that have a greater impact and longer-lasting effect on employee engagement.
3) HR Pros See Value in Linking Recognition Programs with Company Values from Society for Human Resource Management
HR professionals in organizations where an employee recognition program is linked to organizational core values perceive that the program produces a greater return on investment (ROI) and can help reduce employee turnover, according to a survey released today by the Society for Human Resource Management (SHRM).
The survey, conducted in collaboration with and commissioned by Globoforce, a Southborough, Mass.-based provider of social recognition solutions, found that worker retention was the top workforce management challenge that employers face.
4) It's Better To Give Than Receive At Work from Forbes
Tis the season of good will but how generous are employees when it comes to praising their colleagues in the workplace? Employees who frequently give recognition feel more confident, driven and are more dedicated to the success of their organization, according to an international survey of 3,400 employees conducted by O.C. Tanner.
However, while recognition has its advantages, the research found a disconnect in perception between frontline and upper-level employees such as managers and directors on which employees have the opportunity to give and receive recognition. A much lower percentage of front-line employees believe that everyone at their organization has the opportunity to be recognized, with many of them not feeling empowered or that it’s their responsibility to provide recognition.
5) The State of HR: How a Decade Changed the Workplace from HR Daily Advisor
A lot has changed in the workplace over the last 10 years. Millennials—whom 10 years ago were barely old enough to work—now make up a vast majority of the workplace. Technology has made communication much easier, but also more burdensome with the ability to “always be on.” And then there’s the Affordable Care Act … but we’ll save that for a different day. So, how exactly has the world of HR changed?
A new report looks at the world of work as it is now, and how the last decade has helped shape it. Bamboo HR started by reviewing specific research that examined the state of HR before the era began. After combing through the data to find the most representative results from 2006, it asked the same questions to a new group of working professionals in 2016.
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Shannon Smedstad (@shannonsmedstad) is a Lead Consultant & Project Manager for exaqueo, a workforce consultancy that helps organizations build their cultures, employer brands and talent strategies. Contact exaqueo to learn more about our employer brand innovation, workforce research and recruiting strategy offerings.