Workplace Recognition and Incentive Programs

Valued Employees = Engaged Employees = Business Results

Posted on May 10, 2010 by Carl Bonura in Uncategorized

Studies prove employees need to feel valued and know the work they do on a daily basis matters. More than three-quarters of employees, 76 percent, who responded to the 2008 World of Work study published by Randstad, an Atlanta-based employment-services firm, said feeling valued was the most important factor for happiness at work, out of more than a dozen options. When asked to identify the employer attributes they valued most, the top response (67 percent) was “recognizes the value I bring to the organization.” (Length-of-Service Awards Becoming More Personal, Rebecca Hastings, SPHR, 2009 HR Trendbook, p. 46.)

Employees who feel “cared for” by employers are more likely to return the favor by paying attention to the company’s bottom line, treating customers better, and supporting the overall work community. As Allan Schweyer of the Human Capital Institute points out: Engaged employees work smarter, not harder.

The key to making recognition and rewards programs work is to target them to specific business goals and individual employee needs. Goal alignment and reward reinforcement promotes excellence and increases the likelihood of business success. At the end of the day, your organization is more likely to craft the right program by:

  • Understanding the respective strengths of various rewards and recognition approaches.

    Remembering that demographics matter—as the nature of your workforce changes, so should the nature of your approach.

    The mix can be different for each employee. The key is to determine the mix on a case-by-case basis.

    (Finding the Right Mix, Performance Improvement Council)