Employee Reward And Recognition

Maximizing Employee Performance In A Recessionary Economy

Why is employee recognition more important than ever in 2009 ?
The obvious need to contain expenses and manage down costs in a recessionary economy
To free up working capital by accelerating receivables, reducing outlays
Minimizing costs associated with employee turnover
Compacting the learning curve for new hires or redeployment of current human assets
To drive efficiencies in every available sector of the organization

A Successful Employee Involvement System:
Is linked to business strategy, vision and quality
Focuses on employee input and peer recognition
Uses multi-layered programs within a system
Recognizes individuals and teams
Links rewards to performance
Uses tangible rewards
Utilizes an intensive communications strategy
Includes measurement and accountability
Overview of Best Practices

Organizational, Financial Issues
Common Business Priorities
Consolidation
Alignment
Retention / Recruitment
Safety
Employee Satisfaction
Length of Service

Going from good to great performance high-performance recognition frequency number recognized recognizes results
annual
goal achievement
corp. to associate
drives goal attainment
recognizes performance
monthly
discretionary
manager to associate
awards accomplishments
recognizes behaviors
weekly
peer-to-peer
360° recognition
reinforce core values

Integrated Performance Platform Business Goals Department and/or Corporate Goals Training & Certification Retention Peer Recognition Referral Collections Attendance Customer Satisfaction Collaborative Design Process Integrated IT Platform Tangible Awards/Common Media Executive Dashboard

BI’s approach
Focus on behaviors that will create change
Manager to Peer recognition
Peer to peer recognition
Team based objectives
Results align with corporate objectives

What you can expect – result measures
Employee engagement
Manager, Peer involvement
Improvement in employee satisfaction
Effective management of multiple initiatives
Measurable Results
Increased learning, comprehension, awareness, activity, and/or other critical performance metrics

Operational measures
Measures that focus on team/program function
TCSI
How is BI performing
Merchandise fill rates
Web site availability
CSR availability

Measures that focus on program performance and success
Enrolled Participants
Number of Active Participants
Activity Levels
Awards Issues
Survey or Quiz Data
Peer to Peer Nominations
Manager to Peer Recognition
Budget Utilization
Referral Volume
Impact Measures

Results Measures
Measures that focus on business issues (leading to ROI-type analysis)
Return on expense
Cost-savings
Associate Turnover
Retention %
Financial Performance

Investment Benchmarks
NAER/WorldatWork Member companies
3.8% of payroll
Baldrige Winning Companies
$250-$700 per person, per year
Current BI programs
$200 - $400 per employee, per year

Employee Recognition Programs:
Reinforce local and corporate activities that lead to accomplishment of strategic objectives
Offer flexibility to focus on specific metrics and current initiatives
Reward results, not behaviors
Build a culture of positive reinforcement and culture of recognition
Recognize periodic, ongoing performance of all employees
Improve employee satisfaction, retention
Improve customer and brand loyalty
Summary

Recent Gallup Poll
2 out of 3 people received no workplace recognition in a given year
99 out of 100 people want a more positive environment at work
9 out of 10 people say they are more productive when around positive people

Recent Gallup Poll
Employees receiving recognition and praise within previous seven days...
Show increased productivity
Get higher scores from customers
Have better safety records
Net: These employees are more engaged!

Gallup Research
Regular recognition and praise leads to:
Lower turnover
Increased engagement among colleagues
Better safety records and fewer accidents on
the job
Higher loyalty and satisfaction scores from
customers
An increase in overall productivity

Towers Perrin Study – August 2005
A major new study of employees worldwide offers disturbing news: just 14% of people are fully engaged on the job and willing to go the extra mile for their companies.
Largest single study of workforce worldwide
Conducted by Towers Perrin’s HR Services business
Surveyed 85,000 people working for large and midsize companies
Included employees in 16 countries; on four continents

Towers Perrin Study
Towers Perrin research shows that companies with fewer engaged workers are far less likely to deliver on their growth agendas or achieve the kind of performance that shareholders demand.”

Towers Perrin Study
Highlights
Vast majority of people surveyed are moderately engaged at best
Twenty-five percent are actively disengaged
Study shows - highly engaged workers believe they can and do contribute more directly to business results than less engaged
Highly engaged employee beliefs…
84%: can positively impact quality of their company’s products (31%)
72%: can positively affect customer service (27%)
68%: can positively impact costs in their job or unit (19%)
*(___) reflects percent of disengaged with same belief

NAER & WorldAtWork Study
Survey sent electronically to
2708 WorldAtWork & 599 NAER Members
614 responses (19%)
At a 95% confidence interval, margin of error is +/- 4%
Highlights
92% indicate there is more recognition today than 12 months ago
89% of respondents have recognition programs
48% are considering adding programs within 12 months
60% have written program strategy
81% use to create a positive work environment
69% allocate 3.8% of payroll for recognition
52% have both corporate-wide and division/dept. specific
71% have both informal and formal recognition programs
55% of Sr. Management view recognition as an investment
45% use employee satisfaction surveys to gauge success

Conclusions
US Department of Labor
Number One reason people leave their jobs is that they don’t feel appreciated
Gallup
If you satisfy their deep wants – employees become more cognitively and emotionally engaged and will perform better.
And…this is so across national and corporate cultures, in all occupations, regardless of rates of pay, because the underlying needs are universal .

What To Do?
Contact [email_address] to schedule an introductory meeting with an expert in driving positive cultural and behavioral change
A poor economy is no reason to accept lackluster organizational results. There are many cost-effective tools to deliver bottom-line results for your company

Visit http://www.biworldwide.com

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Employee Reward And Recognition

by BI Worldwide

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