Rewards & Recognition

Rewards & Recognition, Talent Management

Hiring Wisdom: How to Give Great Performers What They Want

123RF Stock Photo

When it comes to benefits and perks, what is it that everyone really wants in today’s world?

Time! More time.

How can you give this gift to your extraordinary performers? Here are two ideas: Read more…

Compensation, Rewards & Recognition

A Paycheck Is Not Enough Recognition for a Job Well Done

From istockphoto.com

One statement sure to raise my ire when discussing the Power of Thanks in the workplace is: “They get paid to do their job. That’s recognition enough.”

It’s a patently false statement. Pay and recognition serve very different needs, but they are in a symbiotic relationship when it comes to fulfilling those employee needs.

All the recognition in the world won’t help resolve an underpaid employee’s base needs in terms of Maslow’s Hierarchy. And pay raises, consistently and appropriately given, won’t meet the higher-order employee needs, either. Read more…

Recruiting and Staffing, Rewards & Recognition

Employee Retention: It’s Really a Workplace “Stickiness” Problem

© auremar - Fotolia

“People just don’t stick around like they used to.”

How often have you heard that phrase in terms of employee retention goals, usually coupled with statements about “there’s just no loyalty anymore.”

History shows that’s just not true. For the last 25 years, tenure has been consistently low across nearly all age ranges. And the youngest generation in the workplace tends to stay the shortest amount of time (which is not surprising considering where they are in their careers).

More recent data published in The Wall Street Journal shows average tenure across occupations doesn’t even reach five (5) years. Read more…

Rewards & Recognition, Talent Management

What’s More Important to Employees? Base Pay or Recognition?

From istockphoto.com

What’s more to employees important: Base pay, or being appreciated for their work?

A recent survey released by Boston Consulting Group polled more than 200,000 employees around the world to create a definitive list of the 10 top factors for on-the-job happiness.

What employees really value

They found that employees value the following (in order of importance): Read more…

Rewards & Recognition, Talent Management

Why Your Employees Are Leaving (and How You Can Win Them Back)

Iquit

Employee turnover is a fact of life. And as it turns out, not even the most in-demand employers are immune.

Earlier this year, rumors were circulating that “tons of engineers” were ready to leave Google after employees received underwhelming year-end bonuses, and Elon Musk recently claimed that Apple was offering his employees a $250,000 signing bonus to leave Tesla.

Turnover is costly to any enterprise, but especially to high-profile companies like Google and Tesla. Not only do you lose valuable team members, but also an employee who quits can cost up to 150 percent of his or her salary to replace. Read more…

Rewards & Recognition, Talent Management

Creating an Attitude of Gratitude in Your Organization Every Day

employee_appreciation_day

No matter what role an employee plays within your organization – answering the phones, closing sales deals or managing a large team – there is one characteristic that they all have in common: the need to be recognized and appreciated for their work.

Many say that appreciation is just as important as other critical factors like compensation and career development. In fact, for the Millennial generation, feeling appreciated is an absolute must-have to remain engaged.

Regardless of which generation they fall into, employees want to know that you are grateful for their contributions. What’s more, beyond simply making everyone feel good, ensuring your employees feel valued has tremendous benefits for your company’s bottom line. Read more…

Rewards & Recognition

What Legacy Will YOU Leave With Your Organization?

legacy

Someday, you will leave your current organization.

You may retire. You may move. You may choose to continue your career elsewhere.

Regardless of the reason you leave, your time in your current organization will be remembered by others. How will they remember you?

Read more…

Rewards & Recognition, Talent Management

When It Comes to Recognition, Companies Stick With the Tried and True

© iQoncept - Fotolia

Recognition programs are vital tools in an organization’s total rewards strategy, but beyond the knowledge that “recognizing employees is a good thing to do” we can look to data that back up recognition programs as an important part of an organization’s culture.

WorldatWork and ITA Group’s Trends in Employee Recognition 2013 is a good example of a data-driven look into why recognition programs are important.

Their report summarizes the results of a survey sent globally to 5,520 WorldatWork members, which aimed specifically to measure specific types of recognition programs and the impact on the workforce. Respondents were randomly selected members who had designated responsibilities at the executive, top or senior level and members that specified total rewards as their specific function area. Read more…

Rewards & Recognition, Talent Management

“Good Job” – Are These the 2 Most Harmful Words in the English Language?

whiplash

If you were among the millions of movie fans around the world who tuned in to the Academy Awards on Sunday, you may know that the title of this post refers to a line from one of the films nominated for Best Picture.

Whiplash involves a relentlessly cruel bandleader who takes extreme measures to encourage (or crush perhaps – it was hard to tell – therein lies the brilliance of the film) the hopes of a young student musician aspiring to become one of the jazz greats.

The movie poses lots of questions about how far people will go to achieve their dreams, and the motivations of others who support those dreams. Read more…

Rewards & Recognition, Talent Management

Are You Distracted and Missing Amazing Work Going on Around You?

amazing people

Here’s a photo that encapsulates the world we live in today. (See below; email subscribers, click through.)

Eric Smith, the photographer who captured this image, said about the experience:

The whales were breaching off Redondo (Beach) and this small sailboat maneuvered into the spot where the spout occurred. I was roughly 50 feet from the whale and her calf when they surfaced next to the sailboat. The guy never looked up from his phone throughout the entire breach. Two women at the front of the boat were taking pictures but he didn’t notice.” Read more…