Company culture, increased investment, and technology are playing a big role in today’s rewards programs.
By Melissa VanDyke
Human capital investments as a trusted way for organizations to sustain and grow success continue to build. Aside from the more than 80 percent of U.S. businesses that now invest in alternative awards for their sales population or employees, a recent study by the Incentive Research Foundation (IRF) found that top-performing businesses view rewards and recognition as an important part of the human capital playbook. Of the 900 organizations reviewed, only 300 met the qualifications to be considered top performers: over five percent year-over-year revenue growth, 90 percent customer retention or satisfaction, and 90 percent employee satisfaction or retention.
Companies are adopting volunteer programs to attract and retain younger workers.
By Marta Chmielowicz
Every day, people become more conscious of their impact on the world and how they can shape it in their personal lives. Faced with global economic, political, and social instability and disruption, the millennial generation in particular is turning its attention to social causes that benefit the greater good. Whether it’s by supporting altruistic brands like TOMS or contributing to non-profit fundraising efforts on Facebook, it’s clear that young people today want to be socially responsible.
Ways organizations can leverage their recognition programs to identify potential leaders and improve succession planning strategies.
By Marta Chmielowicz
There’s a saying among some HR professionals today: “The ‘war for talent’ is over—and talent won.” In the new world of work where growing employee expectations and improved workplace conditions are the norm, the job market has become less about employees competing for roles and more about organizations competing for employees.
Five strategies that help create a more fulfilled workforce.
By Derek Irvine
In today’s global, modern workplace, the concept of bringing more humanity, recognition, and social connection to the employee experience continues to gain momentum. Forward-thinking HR and business leaders are realizing traditional performance management methods have become archaic. It’s no longer about just getting more from employees. Rather, it’s about managers and company leaders giving employees more to help them find value and meaning in their work.
Take a closer look at how Shop Direct revamped its recognition strategy during a big transition.
By Christa Elliott
Today, Shop Direct is a multi-brand, online retailer serving the United Kingdom and Ireland. The company’s 4,700 on and ofﬂine employees successfully ship more than 50 million products every year, but its digital success was a long time coming. Only after transitioning to an online platform and rethinking the way that it recognised its workforce was Shop Direct able to meet its full potential and become the retail success that
it is today.
Shop Direct was born from the iconic British retailer Littlewoods—a company founded more than 80 years ago when mass-market retailing was in its infancy. Although Shop Direct became a brand well-loved by consumers, the shift to online shopping and marketing over time meant that the U.K.-based retailer had to adapt alongside industry developments or risk becoming obsolete.
A successful, global recognition programme calls for a local touch.
By Debbie Bolla
With nearly 50,000 employees in 180 countries, the global nature of The Dow Chemical Company’s workforce was a primary consideration for its employee recognition programme. What was CHRO Johanna Söderström and her team’s solution? A global platform executed locally.
Horizon achieves desired behaviors and outcomes through a values-based, social recognition program.
By Debbie Bolla
Ask Marie Crea, director of HR for Horizon Blue Cross Blue Shield of New Jersey, how she would describe the organization, and she would tell you that it’s employee-centric. The healthcare insurance provider is in the business of ensuring quality service for its members, and that level of service is literally in the hands of its employees. So when engagement scores fell a hair under benchmark level in 2013, Crea knew it was time for HR to step it up and roll out a modernized, socially-driven recognition program with the same name.
By calling out employee efforts that tie to company purpose, organizations can drive loyalty.
By Gary Beckstrand
When anthropologists evaluate groups of people and try to define cultures, the first characteristics they look for are mutual purpose and vision, and with good reason—a unified purpose is what connects people and separates distinctive groups.
“What we need to accomplish as an organization is a challenge, and we know we have to do that through our employees.”
This is what Marie Crea, director of HR for Horizon Blue Cross Blue Shield of New Jersey, told me when we were discussing some of the drivers behind implementing their highly successful recognition program, “Step It Up.” Crea clearly has a solid understanding of the impact employees have on an organization’s bottom line and the impact that recognition has on the workforce. Research from Globoforce shows that 86 percent of employees feel recognition programs make them happier at work and 85 percent more satisfied with their jobs. Happy employees mean happy customers.
There are two keys to Horizon’s Step It Up program, which is delivered through the Achievers platform. One is its social aspect that allows peers to recognize other peers based on different tenants, including teamwork, problem solving, and everyday leadership. Crea admits even she finds it “thrilling” to be called out on the online platform for doing great work. That feeling escalates as other colleagues “like” and comment on the achievement.
Organizations can maximize the impact of their recognition programs by offering experiential rewards.
By Christa Elliott
The research is clear—employees want to be recognized at work, and according to a 2016 Gallup poll, only 51 percent of workers are satisfied with the recognition they receive at work. But when approaches such as social recognition or monetary rewards aren’t resonating with employees, there is another option. Using experiential rewards can be an effective way to engage employees through a personalized approach, proving to them that their employer values what they bring to the table.
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