Recognition can be a complex task but implementing an effective programme has multiple benefits.
By Belinda Sharr
Ambitious employees—no matter where they work around the globe—want their accomplishments highlighted. Recognition is an important part of the employee experience at a company, and studies have indicated that recognition is tied to great things—increased employee engagement and retention, and better business results. And what does this mean for the bottom line? In 2015, studies from Aon Hewitt found that a 5 per cent increase in employee engagement is linked to a 3 per cent increase in revenue growth in the subsequent year.
Productivity goes up as well. When employees receive recognition, they tend to perform better, says Alexandra Bode- Tunji, programme lead of people transformation at Transport for London.
"Employee engagement surveys indicate higher levels of engagement for teams where recognition is used regularly," she says. "Staff members see recognition as a form of feedback and we [have noted] the need to step up recognition using leadership contact forums such as breakfast meetings with the managing director.
2016 EMEA iTalent Competition winner Rideau revolutionises recognition with its Vistance platform.
Picture this: It's 2030 and your company is struggling to grow, not because the services you provide are unnecessary, but because you simply cannot find the right employees to fill your most important positions. According to Rainer Strack of The Boston Consulting Group in a recent TED talk, this scenario may become a reality.
The workforce is aging, and by 2030, there won't be enough workers to fill jobs and keep major economies growing, says Strack. Once the last of the baby boomers retire, there will be a major deficit in the global talent pool that may cause an overall labour shortage in many of the world's largest economies and a huge skill mismatch that can't be abated with technology.
Strack says that a solution to this impending problem is a major shift in company culture towards appreciation and recognition. A survey conducted by the BCG found that the No.
Today’s technology provides three key components to ensure a rewarding employee experience.
Research shows that modern employees, regardless of age, gender or industry, want to be recognized for a job well done. Despite this desire—and the fact that SHRM research finds 76 percent of companies have recognition programs—a 2014 survey from BambooHR found that nearly 82 percent of employees don’t think they’re recognized for their work as often as they deserve. But technology is helping to solve this problem. Today’s recognition platforms are designed to make delivering, streamlining, and tracking company-wide recognition efforts more intuitive.
“Rewards and recognition act as a primary feedback mechanism for organizations to communicate their vision and goals to staff, not to mention a tool to create positive feedback loops within teams to encourage successful behaviors,” says Cord Himelstein, head of marketing for Michael C.
HR will have their eyes on tech, talent, and leadership development in the coming year.
By Dave Zielinski
As organizations across industries experience disruptive change, HR executives are being challenged to be increasingly agile and resourceful in their strategic planning in order to meet shifting talent and compliance demands. Because of the accelerating digital revolution, acute talent shortages, and the uncertainties associated with a new U.S. presidential administration, 2017 promises to test the ability of human resource leaders to respond to change on multiple levels.
With the new year coming into view, industry experts and CHROs are predicting that a number of new issues will capture HR’s attention and that there will be continued focus on strategic initiatives that gained traction in 2016. HR will implement more technologies that are cloud-based, mobile-enabled, and analytics-equipped to deliver improved user experiences and make smarter workforce decisions.
Research outlines key factors that drive employee engagement.
By Gretchen Alarcon
“Engagement”— it’s an increasingly difﬁcult concept to deﬁne, but business leadership and HR professionals are constantly striving to ﬁnd new ways to improve employee engagement through technology, training, and employee-supervisor relationships. Yet despite their efforts, these measures are not always successful.
Although company leaders and HR professionals recognize the link between employee engagement and workplace productivity, the needs of the workforce differ from generation to generation and are changing the norms that HR departments have come to know. With the pressure on organizations to provide better beneﬁts and business culture, it has become more difﬁcult to understand what controls employee engagement in the modern working environment.
But there may be some strategies that help. The Global Engagement Study from Oracle and Kantar TNS reveals issues most important to employees’ engagement.
Build long-term employee loyalty with ongoing performance assessment and development.
Performance management has become a hot topic in recent months, especially among companies that feel the pressure to attract and retain top talent in a highly competitive hiring market. This is the reason why many companies have begun promoting their ongoing performance management programs as part of the recruiting and hiring process and making it an important priority in the onboarding period. By including this commitment to their employees’ long-term satisfaction, companies have seen retention improve by up to 25 percent, thanks to a well-designed onboarding program that focuses on future growth.
But, what happens after the onboarding and “honeymoon” period is over? Is the program that was promised to be so proactive and forward-thinking working as expected? Unfortunately, the evidence doesn’t seem to indicate success.
As the U.K. looks at an unprecedented time for employment, one expert offers tips on how to handle workforce issues.
By The Editors
With the recent Brexit (British exit) from the European Union (EU), HR teams and employers in the U. K. now have to determine how to handle multiple issues with their employees. Similarly, HR teams in other parts of the EU need to handle any changes that will affect them as well.
Gary Crockford, technical services manager at the knowledge and research centre at Xerox HR Services in the U.K., spoke with HRO Today Global Magazine about this event, and offers tips on how to begin to work through the change.
When it comes to pensions and benefits, policies will remain status quo—for now, "The message in the U.K. is business as usual," he says. "The legal obligations on employers to support their pension schemes remain unchanged following the referendum. Nothing changes either in respect of their employee benefits programme generally.
How organisations can better align relocation with talent management strategy.
By Christa Elliott
In today's competitive business environment, mobility is more than just relocating employees to new markets. It means creating a global business plan around the drivers and goals for annual relocations—and looks beyond the bottom line in terms of measuring the efficiency of mobility programmes.
Unfortunately, there is often a disconnect between global mobility efforts and larger organisational objectives for talent management, especially within large companies. This can make strategic, talent-oriented actions, such as hiring and benefit management, difficult to synergise. There are several reasons for this disconnect, including a divided understanding around the purpose of the global mobility function. In fact, new research from Brookfield Global Relocation Services suggests that whilst 46 per cent of employees say that the primary role of global mobility is to support and serve relocated employees, another 44 per cent believe that global mobility mainly exists to provide expert advice to stakeholders throughout the company.
Dow’s Johanna Soderstrom shares the secrets to creating a global culture of appreciation.
By Debbie Bolla
Having a recognition program that’s “nice to have” was no longer enough for The Dow Chemical Company. Corporate Vice President of Human Resources and Aviation Johanna Soderstrom and her team understand the critical impact that providing meaningful recognition to their more than 50,000 employees has on the bottom line. That’s why in 2013, Dow partnered with O.C. Tanner to evolve their service-driven rewards program into one that encourages a global culture of appreciation.
“In the beginning, recognition was just something that we had since we knew it was an important motivator for employees, but it turned into something that we felt was strategically important,” explains Soderstrom. “We turned it from a check-the-box activity to a cultural shift.”
How? Dow launched a global, multifaceted program called Accelerate Great with the help of recognition strategies provider O.
We know that the readers of HRO Today magazine turn to us as a go-to resource in the HR industry that delivers trends, insights, and the top resources for all of their HR operations and service needs. In our annual resource guide, we aim to showcase providers and product vendors across 18 sectors of HR services.
Here, you will find providers of everything from recruitment process outsourcing (RPO) to benefits administration and multi-process HRO, not to mention a treasure trove of HR technology, consulting services, and other ancillary products.
We hope that our 2017 Resource Guide will serve you well as a starting point in your search for appropriate vendors.