What you need to know about Service Awards in Today's economy
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What you need to know about Service Awards in Today's economy

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Before you embark on a Service Awards initiative, it is imperative that you know what works and what doesn't work in today's economy with today's generational workforce diversity.

Before you embark on a Service Awards initiative, it is imperative that you know what works and what doesn't work in today's economy with today's generational workforce diversity.

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What you need to know about Service Awards in Today's economy What you need to know about Service Awards in Today's economy Document Transcript

  • What you need to know about Service Awards in Todays economy Before you embark on a Service Awards initiative, it is imperative that you know what works and what doesnt work in todays economy with todays generational workforce diversity. Here are the facts: • The employee of today is better informed and more connected to the internet and digital interaction. Boost your ROI by capitalizing on this fact. • Stop offering logo-ed gift items to your employees. They know where they work and want something they will want and use. • Expand your award choices. The gold watch, trinkets or grandfather clock was OK for yesterday but not for today. Going digital will make this easier to do this. • More choices, more interest, more participation. • Be more creative with your engagement and motivation. • Reduce your use of paper and go digital. This will reduce your costs, improve your efficiency and eliminate waste. Go Green! • Balance sincere top down recognition with exciting award choices. Using video and social media will dramatically personalize and enhance your employee communication. • Cut costs and multiply engagement and motivation. Integrate your Performance Achievement and Service Awards initiatives.About Logo-ed items: Stop using them!Contrary to common belief logo emblems of even gold and diamond do not make the best awards. Primarily becauseof the rapid changes in the regulatory, and economic environment, companies often merge or re-structure or go outof business. Job security is basically a thing of the past. Therefore, employees will often change the companies theywork for, diminishing their interest in logo-ed items. Employees no longer have the same corporate identity.Corporate emblems for “years of service:” are outdated.Over 95% of employees would rather be rewarded with usable, practical merchandise.Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845-228-GIFT (4438) :: fax: 845-228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.
  • Sincere top down recognition never becomes outdated.Expand your recognition and reward choices.Expanding your choices will better include all your employees. Regardless of their generation. Going digital with anonline point based program will accomplish this quickly and easily.Be more creative with your employee engagement and motivation.Including games and quizzes in your incentive programs will boost employee engagement while teaching and puttingfun into your incentive programs.*Reduce your use of paper and go digital. This will reduce your costs, improve your efficiency and eliminate waste.Go Green!This isn’t just a fad!According to Case studies of companies such as Nike, Bank of America, AT&T and others as compiled by HeatherSarantes in their Business Guide to Paper Reduction: “Paper is something that virtually every business uses in largequantities. Currently 90 percent of all information in businesses is retained on paper. Its use is so familiar that itgenerally goes unquestioned. This tendency, however, can lead companies to stay dependent on wasteful systems.The financial costs of paper extend far beyond just purchasing the paper.There are also costs associated with storage, lost documents, postage, document obsolescence, and laborinefficiency. For example, a study of the Alameda County, CA Social Services Department found that, in distributing amemo to all employees, only 11 percent of the cost was related to purchasing. Thirty-three percent was for copyingthe memo (this includes expenses for the copy machine and the labor to make the copies), and 56 percent for wasthe labor of processing and distributing it.”Going paperless is more efficient and easier to administer with a powerful and user-friendly on-line point basedprogram.Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845-228-GIFT (4438) :: fax: 845-228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.
  • Incorporating video and social media will dramatically personalize and enhance your employee communication.Some examples:Use video to personally congratulate and recognize achievement. Create a video compilation of your event or specialannouncement and post it on your intranet- Social Engagement Tools.Use personalized email blasts and other communication platforms to recognize individuals, the team or to give yourincentive program its own voice.Know your employee.In today’s multi generational workplace its vital to design your Service Awards program understanding that the agesof your workforce may span more than 50 years. For starters the definition of “quality of life” varies by generation.Recognition and reward choices should reflect this. Not all employees are the same.Employees born between 1930 and 1945 have generally had career experiences where a premium is placed onloyalty and what they know, not just what they do. Your recognition and rewards program should reflect theseperformance criteria.Several surveys by the American Association of Retired Persons have shown that workers in this categoryincreasingly will work for non-financial reasons. As many studies continue to confirm. Individuals of any age willrespond positively to authentic recognition and reward.In general, employees born between 1946 and 1963 have been categorized as the “me” generation or BabyBoomers. Most organizations report them as being in middle or upper management. Overall, they grew up in ahealthier economic time. They like to be in charge and make an impact. Employers must work a bit harder to providerecognition and rewards incentives of value to them.Your employees born between 1964 and 1981 have been labeled as Generation Xers. Their general profile includessuch qualities as being fiercely independent, self-directed, resourceful, and skeptical of authority and institutions ingeneral.Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845-228-GIFT (4438) :: fax: 845-228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.
  • Commitment from these employees is not a problem but blind company loyalty is not one of their strong suits. Theyseek an exciting and challenging environment. Your recognition and rewards initiative should reflect this fact.Employees born after 1982, often referred to as Generation Y, have noted similarities with Generation X. Companieshoping to capture the best of this new workforce would be wise to listen to the needs of these employees.Conclusion:To attract and retain valuable employees and encourage top performance, companies must offer incentive programsand compensation plans tailored to the needs of their employees.Expanding your rewards choices is one sure way to successfully engage and motivate your multigenerationalworkforce.Cambridge’s Who’s who, Edward Ford, a top recognition consultant, puts it this way: "Companies are spendingmore than $500 million annually on service award programs that dont work, and minor changes will not address theproblems. At the same time, with all the downsizing and change taking place in business today, recognition is moreimportant to the morale of employees than ever. It is imperative that companies take a fresh look at whatconstitutes effective recognition -- including what the needs of the award recipient are."Ford goes on to say: “To make your incentive programs more effective, consider how many award choices you havein your program.” Ford says "A human resource executive from one of the nations largest banks helped put awardchoices in perspective by asking, How many of the same things, pins, pen and pencil sets... can you use? "A designed Service Awards/Performance Achievement initiative will dramatically raise the level of your employeeengagement and motivation and build a solid spir-de-corp. Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845-228-GIFT (4438) :: fax: 845-228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.