when & how to start a reward & recognition program
TRANSCRIPT
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When and How to Start a Reward & Recognition Program
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When and How to Start a Reward & Recognition Program
Ben PetersonCo-founder and CEO
BambooHR
Jason CorselloVP of Corporate Development & Strategy
Cornerstone OnDemand
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When and How to Start a Reward & Recognition Program
HR can be more strategic by focusing on reward and recognition.
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When and How to Start a Reward & Recognition Program
Reward and recognition is a proven engagement tool.
“Seventy-eight percent of employees would work harder if they were better recognized.”
—Globoforce
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When and How to Start a Reward & Recognition Program
Reward and recognition retains top talent.
“Nearly half of employees said they would leave their employer for a company that recognized employees for their contributions.”
—Globoforce
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When and How to Start a Reward & Recognition Program
When using reward and recognition, your business will see measurable results.
“Organizations that give regular thanks to their employees far outperform those that don’t .”
—Josh Bersin
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When and How to Start a Reward & Recognition Program
It’s clear reward and recognition helps in so many areas. Yet we aren’t doing it.
“Only 12 percent of employees say they often receive appreciation for great performance.”
—Towers Watson
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When and How to Start a Reward & Recognition Program
So why aren’t we doing it?
• Time
• Uncertainty
• Priority
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When and How to Start a Reward & Recognition Program
Instead of focusing on who to reward and recognize, learn how to identify
what to reward and recognize.
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When and How to Start a Reward & Recognition Program
Reward based on behaviors and actions—not titles and
departments.
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When and How to Start a Reward & Recognition Program
• Telecommuting has increased 80 percent recently and
continues to grow.
• Make sure you’re extending your workplace culture to
everyone, not just those physically in the office.
• Link the way remote employees’ achievements align with the
broader, overarching company goals.
Don’t forget about your remote workforce
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When and How to Start a Reward & Recognition Program
Rock Stars Most Improved Departmental Wins Be Creative!
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When and How to Start a Reward & Recognition Program
When to Recognize v. When to Reward
“To win in the marketplace, you must first win in the workplace.”
—Doug Conant, Campbell Soup
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When and How to Start a Reward & Recognition Program
• Intangible
• Relational
• Experienced
Recognition
• Tangible
• Transactional
• Consumed
Reward
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When and How to Start a Reward & Recognition Program
Don’t wait and do it often.
“Most employees want some type of recognition every 7 days!”
—Towers Watson
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When and How to Start a Reward & Recognition Program
Know Your People.
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When and How to Start a Reward & Recognition Program
Don’t lump recognition in with criticism.
Make sure to designate a separate time to recognize and to point out
what could be improved.
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When and How to Start a Reward & Recognition Program
Make reward and recognition a habit. Make it part of your culture.
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When and How to Start a Reward & Recognition Program
How to get started…
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When and How to Start a Reward & Recognition Program
Successful leaders use praise effectively.
“We all need people who will give us feedback. That’s how we improve.”
—Bill Gates
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When and How to Start a Reward & Recognition Program
Be collaborative:
Nominations
Anonymous Feedback
Invite Ideas for Recipients and Prizes
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When and How to Start a Reward & Recognition Program
Recognition means nothing if employees do not feel like it is honest and deserved.
Show employees it is.
Most Importantly:• Be Genuine
• Be Transparent
• Be Fair
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When and How to Start a Reward & Recognition Program
It’s up to leadership to make feedback a cultural value
in the organization.
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When and How to Start a Reward & Recognition Program
BOTH being nominated and doing the nominating bring feelings of
EMPOWERMENT.
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When and How to Start a Reward & Recognition Program
Peer-to-peer recognition = a true illustration of the
social environment
“Research clearly shows that top-down recognition is not what makes companies thrive today—it’s recognition by your peers, the people you work with every day.”
—Josh Bersin
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When and How to Start a Reward & Recognition Program
Don’t wait until you have a full-fledged recognition & reward program running.
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When and How to Start a Reward & Recognition Program
Reward on a small or mid-sized budget:
• Align spiffs and bonuses with performance.
• Provide additional training or career development.
• Company lunches, gifts cards, food.
• Tickets: movies, concerts, plays, games.
• Chairs, headsets, extra monitor, laptop, new phone.
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When and How to Start a Reward & Recognition Program
Reward a remote or scattered workforce:
• Give team-building experiences.
• Provide faster equipment or efficient tools.
• Send swag—with the company values.
• Provide a company social forum for communication.
• Allow employees to reward each other.
• Share, involve, communicate.
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When and How to Start a Reward & Recognition Program
“We are what we repeatedly do. Excellence, therefore, is not an act, but a habit.”
—Aristotle
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When and How to Start a Reward & Recognition Program
Follow BambooHR and Cornerstone on social media:
bamboohr.com/blog | cornerstoneondemand.com/blog
Thank you!
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When and How to Start a Reward & Recognition Program
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