Reward and recognition: the psychology Saurav Chopra, CEO

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

Misconception 2:“Employees are more motivated by employer recognition than peer-to-peer.”

vsTop-down

rewardPeer-to-peer recognition

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 problem

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, 2013http://go.globoforce.com/rs/globoforce/images/AberdeenReportNovember2013.pdf#

And of this 14%, most fail because they are: Financial

Top-downExtrinsic

Reward & Recognition:How do we get it right?

Tailor rewards 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

Case study 1: Snowflake Gelato’s Snowballs

Retention

50%

Case study 2: Google

Kudos

1.

2.

3. 4

.

Spot-bonus

The ‘no name’ program

Peer bonus

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

Perkbox R&R Peer-to-peer ‘recognition’ Leaderboard Digital

badges

Employer/Manager → Employee Rewards