Why... Reward and Recognition?

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    15-Apr-2017

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  • 10%

    Youve got the why, so whats next?

    Flight risk

    Not feeling valued was one of the top reasons given for employees looking to change jobs in 2016.

    Not just

    Only 13% of employees said they are motivated by a bonus.

    Performance

    Organisations with the most sophisticated recognition practices are 12 times more likely to have strong business outcomes.

    Motivation

    of employees suggested better treatment by their employer, including more praise and a sense of being valued, would be the most motivational thing their organisation could do.

    Not just forthe blue chips

    Smaller businesses will benefit most from a focus on recognising and rewarding performance, with an estimated efficiency gain of

    Keeping hold of talent

    Companies with strategic recognition reported a mean employee turnover rate that is

    lower than retention at companies without any recognition programme.

    Money doesntalways talk

    Reward and recognition isnt just about money. According to the ILM, ensuring employees enjoy their job is the single most effective way to motivate - even more influential than salary in inspiring staff to work hard.

    Remember to saythank you

    As part of the annual Investors in People Job Exodus Survey in 2016, employees said say thank you more when asked what employers can do to increase overall happiness.

    Make itrelevant

    Consider your company purpose and values and what kinds of recognition and reward would be relevant and motivational to your people. The more relevant to your culture, the more impact it will have.

    Engagingall levels

    Your leaders and managers are the frontline in developing a culture of effective recognition and reward. Ensure they are engaged themselves and understand the why behind what youre trying to achieve.

    Engagement Providing employees with recognition for high performance was voted the most impactful driver of employee engagement.

    The way you reward and recognise your people can play a big part in how engaged they feel. And how engaged they are can make a big impact on your performance. Need convincing? Heres a few reasons why you need to be

    confident in your reward and recognition.

    13%

    Reward and Recognition?

    Why...

    PEOPLE POWER?Have you unlocked your

    2016 x12

    31%

    23.4%

    At IDG, were passionate about what we do and dedicated to helping you and your organisation be happy, healthy and sustainable. It may sound clichd but its true.

    From specialists in people development and quality management standards, to experts in the field of high performance working, we are here to help you realise your ambitions whether helping you to improve systems, develop your people or grow your business.

    If you want to talk about your people and performance, wed love to hear from you.

    t. 0844 406 8008 e. enquiries@i-dg.co.uk w. www.i-dg.co.ukCalls will cost 3p per minute plus your phone companys access chargeIDG is the trading name of Improvement Development Growth Ltd. Registered Office: Lee House, 90 Great Bridgewater Street, Manchester, M1 5JW.Registered in England number: 04141322 VAT registration number: 727102071

    (Investors in People)

    (SHRM/Globoforce)

    (Bersin by Deloitte)

    (ILM) (Investors in People)

    (ILM)

    (Harvard Business Review)