hdi r & r external 1
Post on 17-Oct-2014
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1992 News
• Unemployment at 7.1% highest in 5 years
• Big 3 car makers report record loses
• Dow high 3,413• New home cost
$144,000• Gallon of gas - $1.13• Gallon of milk $2.78
Retention Rewards & RecognitionWhy it’s Important
Presented by Doris Blanks
Agenda
• Retention
• Recognition
• Reward Programs
• Q& A
Retention
Employees don’t leave the job they leave their Supervisor. – As the economy improves, 83% of employees
indicate they plan to look for a new job; Source: SHRM
Perceived lack of recognition of their skills – 79% of employees who quit their jobs cite "lack of
appreciation" as the #1 reason for leaving. Source: Jackson Organization
Retention
Cost of recruitment
If a new recruit leaves, just when they are productive, it takes 12 -18 months to get a new hire up to the same level
Don’t wait until staff is walking out the door to let them know they are valued
What’s your Attitude
Retention
We need people who are really passionate about your company (Supervisor)
We need people so pleased with the company they tell everyone they know about what a great company they work for.
VSP Employee Survey
2009 Survey results 92% – Over 2,100 employees participated in the
survey– VSP averaged in the 80 percentile
compared with other similar organizations– Key questions
• My supervisor treats me with respect 86th • What I do is important to the overall success of
the company 88th
Recognition is a basic need
Maslow’s hierarchy of needs
Self actualization
Esteem
Love /Belonging
Safety
Physiological
Recognition
Basic Food, Water
RecognitionEveryone needs respect to be successful
Engage ALL staff – 90% improve performance after being
praised. Source: J.Pfeffer, Stanford School of Business
Recognition
Focus on successes & strengths
Communicate to your employees the exceptional job they are doing – The preferred form of recognition at the
workplace is verbal recognition 42%. Source OfficeArrow survey
Recognition
A reward program should be part of your strategic goals or company values
You role as a manager – Understand how to improve the frequency, quality
and the alignment of recognition with your company and/or department goals
Recognition
Recognition = Higher productivity!– A Gallup study of nearly 5 million
employees revealed that an increase in recognition and praise in an organization can lead to higher engagement, lower turnover, higher loyalty and satisfaction scores.
Recognition should be
Specific
Timely
Personal
Frequent
Recognition
Decide how often and what type– Do I have a clear understanding of what motives
each employee– Do I recognize employees for significant
accomplishments– Do I seek opportunities to recognize employees
for the little things– I tell employees the specific reason for the
recognition– I make it personal– I do it as soon as possible
Recognition
Try Verbal recognition once every 7 days per employee – Acknowledgement – Thank You – I appreciate your help with ----– Great job on --
Reward Examples - Cards
Modeling Your Values Above and beyond performance
Accomplishment has amazing
affect on Your business
Gold winner who stands out from
the rest
Exhibiting exceptional employee service to fellow employees, business partners and community
Reward Examples – Mentoring
Value of MentoringOffer a Mentor Program, because research
strongly affirms that mentored individuals:• Perform better on the job; • Grow more rapidly within the organization; • Report more job and career satisfaction; • Express less desire to leave the organization
than non-mentored counterparts; and • Frequently become mentors themselves, ever
widening the circle of benefits.
Reward Examples - Partnering
The Partnering for Success Program gives employees an opportunity to recognize a co-worker within the IT division for successfully partnering with an internal or external business partner.
• Characteristics of Partnership– Trust– Added Value– Commitment – Effective Communication – Common Objectives
TAC Rewards
TAC Newsletter
http://tacatvsp.wordpress.com/
Quarterly Team lunches
Team Building events
Lunch with Manager or Director
You’ve Been Recognized!– Goodie Drawer
You‘ve been recognized cards
Technical Assistance CenterRuss Verbal praise by my boss on a one-on-one and then have it show up on my review.Char A promotion
New equipment or resources to do your job
Monetary bonus Viktor Special recognition at a team meeting
A promotion
Gift certificates [electronics store]
Monetary bonus
Verbal praiseLourdes Training in a new area that you are interested in developing
A promotion
An opportunity to shadow someone else in the company
New equipment or resources to do your job
Monetary bonus
Verbal praise
A letter of recognition from upper managementDeidre Training in a new area that you are interested in developing
A promotion An opportunity to shadow someone else in the company Being assigned a challenging project An anniversary gift honoring your service Gift certificates [Specify: Movies, Visa Gift Card]Verbal praise
Curtis Training in a new area that you are interested in developing
A promotion
Monetary bonus
Time off or sick time hoursChris A letter of recognition from upper management
Training in a new area that you are interested in developingAn opportunity to shadow someone else in the companyTeam luncheonA extended lunch for a day/week
Brian A letter of recognition from upper management
An anniversary gift honoring your service
Gift certificates [Specify: Movies, Visa, Jamba Juice, Amazon, Newegg]
Time off or leave early
Team luncheon
Conduct a Recognition Survey
Recognition
• Does it really make a difference? – Yes and here’s why – You will have Engaged High Performing
and Productive employees• What can you do at low or no costs?
– Create a culture of appreciation
Wrap Up
• Review
• Questions
• 3 minutes of motivation
http://www.youtube.com/watch?v=q5kn4OBRxro&feature=related
Sources of information
• http://www.keepem.com/ResourcesArticles.asp