Retention Rewards & Recognition Why it’s Important Presented by Doris Blanks
Employees don’t leave the job they leave their Supervisor.
As the economy improves, 83% of employees indicate they plan to look for a new job; Source: SHRM
Perceived lack of recognition of their skills
79% of employees who quit their jobs cite "lack of appreciation" as the #1 reason for leaving. Source: Jackson Organization
Cost of recruitment
If a new recruit leaves, just when they are productive, it takes 12 -18 months to get a new hire up to the same level
Don’t wait until staff is walking out
the door to let them know they are valued
What’s your Attitude
We need people who are really passionate about your company (Supervisor)
We need people so pleased with the company they tell everyone they know about what a great company they work for .
VSP Employee Survey
2009 Survey results 92%
Over 2,100 employees participated in the survey
VSP averaged in the 80 percentile compared with other similar organizations
My supervisor treats me with respect 86 th
What I do is important to the overall success of the company 88th
Recognition is a basic need
Maslow’s hierarchy of needs
Recognition Basic Food, Water
Everyone needs respect to be successful
Engage ALL staff
90% improve performance after being praised. Source : J.Pfeffer, Stanford School of Business
Focus on successes
Communicate to your employees the exceptional job they are doing
The preferred form of recognition at the workplace is verbal recognition 42%. Source OfficeArrow survey
A reward program should be part of your strategic goals or company values
You role as a manager
Understand how to improve the frequency, quality and the alignment of recognition with your company and/or department goals
Recognition = Higher productivity!
A Gallup study of nearly 5 million employees revealed that an increase in recognition and praise in an organization can lead to higher engagement, lower turnover, higher loyalty and satisfaction scores.
Recognition should be
Decide how often and what type
Do I have a clear understanding of what motives each employee
Do I recognize employees for significant accomplishments
Do I seek opportunities to recognize employees for the little things
I tell employees the specific reason for the recognition
I make it personal
I do it as soon as possible
Try Verbal recognition once every 7 days per employee
I appreciate your help with ----
Great job on --
Reward Examples - Cards Modeling Your Values Above and beyond performance Accomplishment has amazing affect on Your business Gold winner who stands out from the rest Exhibiting exceptional employee service to fellow employees, business partners and community
Reward Examples – Mentoring
Value of Mentoring
Offer a Mentor Program, because research strongly affirms that mentored individuals:
Perform better on the job;
Grow more rapidly within the organization;
Report more job and career satisfaction;
Express less desire to leave the organization than non-mentored counterparts; and
Frequently become mentors themselves, ever widening the circle of benefits.
Reward Examples - Partnering
The Partnering for Success Program gives employees an opportunity to recognize a co-worker within the IT division for successfully partnering with an internal or external business partner.
Characteristics of Partnership
Quarterly Team lunches
Team Building events
Lunch with Manager or Director
You’ve Been Recognized !
You‘ve been recognized cards
Conduct a Recognition Survey
Does it really make a difference?
Yes and here’s why
You will have Engaged High Performing and Productive employees