Note: This is the second in a 4-part series on compensation practices for small companies. In this series Margaret O’Hanlon shows how a small company typically deals with compensation, discussing each of a few key practices and what problems these…
Rewards
Service Recognition Still Does Make a Difference
Every few months, chatter in the media – and from some competitors – attempts to make the point that in the millennial-driven gig economy, service award programs must surely be irrelevant to employees and ineffective tools for organizations. I hope…
Rewards Can Help Close the Strategy-to-Performance Gap
I like to argue that we should be holding our compensation programs – and the money they represent – to a higher standard. Research examining how well company strategy delivers on its potential – and where and why it fails…
3 Ways to Make Your Recruiting Efforts Stand Out
The US labor market is tightening. Job openings are at a record high, and there is uncertainty over whether there will be enough skilled workers to fill them all. We keep hearing about how the very nature of work is changing,…
Rewarding People For Results Is a Mistake
Beware of people who say things like, “I’m the sort of person who likes to get things done.” They almost always make this remark when trying to impress an interviewer, colleague, or manager. The implication is that while all the losers around them…
HR Roundtable: How HR Can Encourage Encouragement
We decided to start the HR Roundtable (of Cincinnati) off in 2017 on a positive note. The topic was “Encouragement At Work” and we were going to explore how to make this more of the norm versus an exception. Since…
How You Deploy Talent Is More Important Than How Much You Have
Recognize This! – Research shows talent deployment matters more than the raw amount of talent. One effective strategy is to encourage talent networks through social recognition. The war for talent is most often described in terms of a company’s ability…
Growth Comes Best In A More Human Workplace
Recognize This! – Growth within a human workplace combines traditional learning opportunities with the recognition of a challenge- and fun-oriented mindset. In today’s post, I wanted to revisit a set of findings from the 2016 WorkHuman Research Institute ROI of…
Your Company’s Market Value Depends on Good Talent Management
Corporate value is increasingly dependent on employees, and talent optimization is becoming a serious business issue. The Brookings Institution has reported that as much as 85% of a company’s market value is now calculated with intangible assets such as knowledge,…
How to Avoid the Perils of Rewards Programs
A recent academic study is catching a few headlines, suggesting that award programs can have negative motivational spillover effects and actually lead to decreased productivity. The study focused on an award program for attendance, implemented by a plant manager in…
It’s Pretty Super When You Can Reward Them With the Ultimate Employee Perk
There are 53 players on the standard NFL team’s roster, but the bosses of the Carolina Panthers and Denver Broncos know it takes more people than that to win a Super Bowl. At every NFL head office, there are hundreds…
Winning the Talent War with Total Rewards
Total Rewards is among the most critical functions for a successful business. In today’s marketplace, where a highly educated and talented workforce is in high demand and has significant bargaining power, employers must offer a unique and compelling employment value…
It’s Clear Employees REALLY Matter When They Get a $100,000 Bonus
When 1,380 employees got a $100,000 bonus each, the story should have made headlines everywhere. The brilliant bonus decision was a wonderful example of a corporation that cares deeply about its employees. Because the reward was so successful, and, because it illustrated…
Recognizing Employees For Good Work? You Need a Multiple Channel Approach
The IBM Smarter Workforce Institute (SWI) recently released a report showing the importance of using multiple channels for recognition. The report is based on a survey of 19,000 workers from over 26 countries, and it shows that the more communication…
After Years of 3% Increases, Where Have All the Good Raises Gone?
Last month, The New York Times published an article bemoaning the loss of pay raises in favor of one-time bonuses and non-monetary rewards. Cited in the article, analyst firm Aon Hewitt calls this a “drastic shift” based on the firm’s annual survey…
Here’s How to Keep Your Best Employees — Without Increasing Pay
Fortune’s Leadership Insider network runs an interesting series, asking leaders a key question for response. Recently, a question asked to Sarah Kauss, CEO and founder of S’well, asked “How do you keep your best employees?” I encourage you to read…
When It Comes to Recognition, It’s Better Late Than Never
This week, President Obama and the U.S. Government honored two World War I veterans posthumously with the Congressional Medal of Honor, the highest award for valor on the battlefield. The two soldiers in question, Private Henry Johnson and Sergeant William…
Rewards Run Amuck: Contests That Demotivate and Destroy the Culture
“We’re adding a little something to this month’s sales contest. As you all know, first prize is a Cadillac El Dorado. Anybody wanna see second prize? Second prize is a set of steak knives. Third prize is … you’re fired.”…
A Mother’s Day Message: Modern Moms Want to Work
Think for a moment – how many mothers do you work side-by-side with? I’ll bet you know someone right off the top of your head. Mother’s Day is a time to honor dear old Mom for all the good things…
Color by Numbers: Just Do the Math to Find Picture Perfect People
Without doing the math and coloring them in, you can still tell what most of them are. But that’s no fun when you’re six, just learning addition and loving to color pictures like my oldest daughter does. Adding the numbers…