The Power of Employee Appreciation. 5 Best Practices in Employee Recognition. - PowerPoint PPT Presentation

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The Power of Employee Appreciation. 5 Best Practices in Employee Recognition.

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Employee appreciation or recognition is the timely acknowledgment of a person’s or team’s “beyond normal” effort, result or behaviour that uphold the company’s goals and values. It can be formal or informal depending on the situation. Appreciation is not learned overnight. In order to be more effective, you need to understand the psychology of praising others and apply it on yourself too. If done right, employee appreciation can be catalytic, causing dramatic positive changes that affect your entire company’s culture. Why do employees need to be appreciated? Kelly Mannard, Chief Marketing and Strategy Officer of Northern Trust, puts it clearly this way: It’s human nature to want to be valued! Most employees respond positively to appreciation because it confirms that their efforts are valued. It gives them that sense of achievement for a job well done — a “pat in the back”. Read more at cake.hr – PowerPoint PPT presentation

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Title: The Power of Employee Appreciation. 5 Best Practices in Employee Recognition.


1
Employee Appreciation Productive
Recognition
2
What Is Employee Appreciation
3
Timely, formal or informal, expressed
and appreciative acknowledgment of a persons or
teams efforts above and beyond the call of duty
or reasonable expectations in the course of
their professional endeavors, or behaviors and
results which uphold the companys goals and
values.
4
Does Employee Appreciation Even Matter?
5
The number-one reason most Americans
leave their jobs is that they dont feel
appreciated. - Gallup, Tom Rath and Donald
Clifton How Full Is Your Bucket? Positive
Strategies for Work and Life.
6
Companies with strategic recognition
programs report 71 and higher engagement levels
among workers, as compared to companies with-
out the same 2012 SHRM/Globoforce Employee
Recognition Survey.
7
Disengaged workers cost the economy
300B every year Gallup, 2010.
8
Benefits Of Employee Appreciation
9
60 of Best-in-Class organizations
stated that employee recognition is extremely
valuable in driving individual performance
Aberdeen Group, The Power of Employee
Recognition, 2013.
10
70 of North American workers hold
timely recognition to be effective or very
effective - surveyed by staffing firm
OfficeTeam.
11
Motivated workers invest more effort
and enthusiasm in their work, since they feel
they have a purpose an important part to play
in the companys goals.
12
CakeHR Your HR. Simplified.
13
Improved Work Culture
14
Companies spending 1 or more of
payroll on recognition, 85 see a positive impact
on engagement SHRM/Globoforce Employee Recog-
nition Survey, 2012.
15
Employee appreciation creates an
environment where employees want to work and to
continue making a difference on the company and
on their colleagues.
16
Lesser Turnover
17
Organizations scoring in top 20 for
building appreciation-rich cultures have 31
lower voluntary turnover than every other
enterprise Bersin Associates The State of
Employee Recognition in 2012.
18
Higher turnovers affect morale and
cost companies millions of dollars from employee
investments, but well-appreciated employees stay
longer in the organization.
19
Better Teamwork and Cohesiveness
20
We are at our best when each other is
at their best. - Mark Welch, Northern Trusts
Chief Talent Officer.
21
Peers are the 1 influence on their
colleagues, not monetary compensation or bonuses,
and the reason behind 20 of all employees going
the extra mile 2014 TINYpulse Employee
Engagement and Organizational Culture Report.
22
When offered the opportunity, 44 of
all employees will organically give each other
recognition on a consistent basis 2014
TINYpulse Em- ployee Engagement and
Organizational Culture Report.
23
Teamwork improves significantly with
appreciation programs, because employees
understand their efforts are recognized not only
by supervi- sors but by colleagues and peers as
well.
24
Directly Improves Customer Satisfaction
25
Weve seen retail clients increase
customer satisfaction rates by 112 in retail
stores that implemented recognition programs
versus stores that did not... Rob Catalano,
Vice President of Global Expansion and Engagement
Achievers.
26
41 of customer are loyal because of
good employee attitude MCA Brand Ambassador
Benchmark
27
5 increase in customer retention
generates a 25 to 85 increase in profitability
Harvard Business Review
28
CakeHR Your HR. Simplified.
29
Employee Recognition Best Practices
30
Example Instead of Employee of the
Month, create a culture of doing the right
thing by recognizing outstanding customer
service when a problem arises.
31
David Brown, founder and president of
Datotel, replaced gift cards and employee of the
month programs with handwritten notes and direct
praise for commendable behavior and results,
creating better morale and engagement.
32
Random appreciation has less impact,
and so recognition programs should align with
company goals and values in order to reinforce
behav- ior towards practices which really matter
the most.
33
CakeHR Your HR. Simplified.
34
Focus On Peer to Peer recognition
35
Employees often view recognition from
bosses as political, but consider peer to peer
appreciation as genuine since colleagues are
better ac- quainted with personal efforts and
contributions than supervisors.
36
Peer-to-peer is 35.7 more likely to
have a positive impact on financial results than
manager-only recognition SHRM/Globoforce
Employee Recognition Survey, 2012.
37
Public Praise Trumps Monetary
Appreciation Programs
38
40 of surveyed employees felt that
increased salaries and financial rewards were
ineffective in reducing turnover Kepner-Tregoe
Survey.
39
1 motivator (37) voiced by employees
in a recent Forbes survey - Recognize Me.
40
When asked what leaders could do more of
to improve engagement, 58 of respondents replied
Give recognition - Psychometrics, A Study of
Employee Engagement in the Canadian Workplace
2010.
41
Story Telling is one of the most
powerful practices in employee recognition,
carried out by publicly praising specific
exemplary performanc- es, sharing appreciation
on social media, or mentioning the efforts on a
company blog or newsletter.
42
Keep your recognition programs simple
yet frequent
43
70 of employees are recognized
annually or not at all - Bersin Associates The
State of Employee Recognition in 2012.
44
Employees not adequately recognized at
work are three times more likely to leave in the
following year Gallup
45
Inculcate a simple culture of top-down
as well as peer-to-peer complimentary
appreciation, since frequent recognition
motivates employees to give their best every day.
46
Need for strategic recognition programs
47
Having a recognition program is
insufficient on its own, if not combined with
strategic approach and tactical understanding of
appreciation methods which would fulfill the
needs of the employees.
48
Only 58 of employees think that their
organizations have recognition programs, despite
75 of organizations having them in some form or
the other Bersin Associates The State of
Employee Recognition in 2012.
49
Northern Trust An exemplary case study
50
Hailed as one of the most
admired companies in the world by the Fortune
magazine for 8 consecutive years, and recognized
by Financial Times Group as the best private
bank in US for the 6th time in 2014.
51
Theyve pioneered employee
appreciation programs over the past decade
resulting in 96 employee appreciation reports,
and 87 reports of recognition programs having
improved work culture.
52
85 of employees satisfied with
recognition experience.
53
85 of employees satisfied with
recognition experience.
54
CakeHR Your HR. Simplified.
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