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Getting Executives On Board with Employee Recognition

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Getting executive approval for employee recognition can be tough. O.C. Tanner tell us how by showing ROI and the benefits of implementing a program, that process can become a little easier.

Published in: Business
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Getting Executives On Board with Employee Recognition

  1. 1. GETTING EXECUTIVES ON BOARD WITH EMPLOYEE RECOGNITION
  2. 2. Presented by
  3. 3. Click the “tweet” button above to tweet the information on each slide
  4. 4. To launch a successful employee recognition program, you need buy-in from top management. Yet many executives see recognition as a waste of money. After all, it’s just a bunch of touchy-feely stuff with no impact on the bottom line, right? Wrong.
  5. 5. A 2014 study by Gallup found 68.5% of workers in the U.S. are either not engaged in their jobs or actively disengaged, meaning less than one third (31.5%) were engaged. 68.5% 31.5% SOURCE
  6. 6. Research has shown a strong correlation between employee recognition and increased engagement.
  7. 7. The percentage of highly engaged employees at companies with strong recognition programs is more than double that at companies with weak recognition. Companies with weak recognition: 34% PERCENTAGE OF EMPLOYEES WHO ARE HIGHLY ENGAGED Companies with strong recognition: 78% SOURCE
  8. 8. I have always believed that the way you treat your employees is the way they will treat your customers, and that people flourish when they are praised. — Sir Richard Branson
  9. 9. Research shows that employee recognition has a direct impact on the bottom line in several ways. Recognition: 1. Encourages great work 2. Increases employee drive 3. Encourages innovation and productivity 4. Builds trust and strengthens relationships between the employee and the manager 5. Attracts new talent—and keeps it around.
  10. 10. Recognize me - 37% Nothing, I’m self-motivated - 13% Give me autonomy - 12% Inspire me - 12% 1. Employee recognition encourages great work One study asked employees an open-ended question: “What is the most important thing your manager or company currently does (or could do) to cause you to produce great work?” I don’t know - 3% Promote me - 4% Train me - 6% Other - 6% Pay me more - 7% SOURCE
  11. 11. 2. Employee recognition increases employee drive One of the most effective ways to increase performance is to give employees a sense of purpose that inspires drive and determination. 89% at companies with strong recognition EMPLOYEE DRIVE AND DETERMINATION: 44% at companies with weak recognition.
  12. 12. 3. Money isn’t everything 41% of employees claimed that they would rather receive recognition than a 5% bonus for going above and beyond. 41% SOURCE
  13. 13. 4. Employee recognition builds trust and relationships A 2015 AON Hewitt study, indicates that employees who are encouraged and rewarded for sharing ideas are three times as engaged as employees without such stimulus. SOURCE
  14. 14. 5. Employee recognition attracts talent Recognizing quality work from your employees will not only bring in skilled talent, it will encourage the talent you bring in to stick around for longer. Out of 26 factors that favorably impact a new job, employees ranked “a manager who shows appreciation for my work” as #1. Other important factors included “good relationships with coworkers” and “a healthy work-life balance.” Salary ranked #8. SOURCE
  15. 15. 6. Employee recognition retains talent A years-of-service award program is linked to employees staying an average of two to three years longer than they would otherwise. Companies with service awards - 6.7 years AVERAGE TIME EMPLOYEES STAY AT COMPANIES: Companies without service awards - 4.7 years SOURCE
  16. 16. Don’t stop at the top: Get local leaders on board, too. A skeptical local leader is one of the biggest obstacles to deploying a recognition program. However, local leaders can be powerful champions of employee recognition if given the opportunity to understand its benefits.
  17. 17. A Cautionary Tale A large company based in the United States had a successful domestic recognition program they wished to expand internationally. The HR team built an international version of the program, complete with awards, timelines, protocols for presentations, and international award shipping and support. Everything was planned out perfectly. But the program failed.
  18. 18. WHAT WENT WRONG? The biggest mistake the company made was not involving leaders from each international site. As a result, local leaders felt the program had been sprung on them suddenly and without their input. There was no clear source of answers to questions about the program, it had eliminated and replaced some beloved recognition traditions. As a result, the employees who should have felt honored felt alienated instead.
  19. 19. Best practices to get international leaders on board 1. Engage them early in the process. 2. Help them see the big picture and the likely upside 3. Give them opportunities to adapt the plan to fit their own local culture and traditions. 4. Show them appreciation. Recognize their accomplishments and acknowledge their insights so they can feel the power of recognition themselves.
  20. 20. JOIN OUR COMMUNITY For more leadership insights and best practices
  21. 21. O.C. TANNER AND THE O.C. TANNER INSTITUTE O.C. Tanner, on the FORTUNE 100 Best Companies to Work For® list for the second year in a row in 2016, helps organizations create great work environments by inspiring and appreciating great work. Thousands of clients globally use the company’s cloud-based technology, tools, awards, and education services to engage talent, increase performance, drive goals, and create experiences that fuel the human spirit. Learn more at octanner.com. The O.C. Tanner Institute regularly commissions research and provides a global forum for exchanging ideas about recognition, engagement, leadership, culture, human values, and sound business principles.
  22. 22. 12 RESOLUTIONS FOR A GREAT YEAR AT WORK 10 BEST PRACTICES OF A BEST COMPANY TO WORK FOR PLAN How to Make Friends at Work THE MILLENNIAL EFFECT ON EMPLOYEE ENGAGEMENT 7 KEY INSIGHTS SHRM CONFERENCE 2016 MORE PRESENTATIONS BY O.C. TANNER

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