Psychology of Reward & Recognition by Saurav Chopra CEO Perkbox

1. Reward and recognition: the
psychology
Saurav Chopra, CEO

2. Misconception 1:
“People work harder to earn more money”

3. Misconception 2:
“Employees are more motivated by employer
recognition than peer-to-peer.”
v
Top-down Peer-to-peer

4. Misconception 3:
“Extrinsic rewards are the best motivators”
The
Effect
Source: Dan Pink: https://www.youtube.com/watch?v=wdzHgN7_Hs8
“Autonomy,
mastery &
purpose”
The cake mix
commercial

5. Employer vs. employee:
incongruent perspectives
A big
60%of employees think reward
and recognition programs
are valuable
But only
14%of organisations provide
managers with necessary
tools to implement
Sources:
Aberdeen Group, The Power of Employee Recognition, 2013
http://go.globoforce.com/rs/globoforce/images/AberdeenReportNovember2013.pdf#
And of this 14%, most
fail because they are:
Financial
Top-
downExtrinsic

6. Reward & Recognition:
How do we get it right?
Tailorrewards to individuals to organisational culture &
individuals
1
.2
.3
.4
5
Foster intrinsic reward
Reward ASAP
Recognise behaviour as well as outcome
Don’t over-do it

7. Case study 1: Snowflake Gelato’s
Snowballs
Retention
50%

8. Case study 2: Google
Kudo
s
1
.
2
.
3
4
Spot-bonus
The ‘no
name’ Peer bonus

9. The future of R&R
L&D
Employee
benefits
Health &
Wellness
R&R will be:
● Embedded in HR
and business
processes
● Automated and
integrated to HR
systems
● Gamified
HR

10. Perkbox R&R
Peer-to-peer
‘recognition’Leaderboard Digital
badges
Employer/Manager →
Employee
Rewards