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BEYOND PAYCREATING STRATEGIES TO ENGAGE AND RETAIN TALENT
© 2018 KardasLarson
Presented by:
Carol L. Kardas, SPHR, CCP, SHRM-SCP
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What we’ll cover today...
• Issues, Objectives and Measuring of Programs
• Five Steps to Creating a Winning Program
• Sharing Your Programs
• Beware the FLSA !!!
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EXPERIMENT
Let’s have some fun…
•Gen Z, iGen, or Centennials: Born 1996 and later.
•Millennials or Gen Y: Born 1977 to 1995.
•Generation X: Born 1965 to 1976.
•Baby Boomers: Born 1946 to 1964.
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ISSUES AROUND CREATING RECOGNITION
PROGRAMS
● Too challenging to administer
● Too costly
● Company not large enough to support
● No support from Senior Management
● Find no value in the programs
What are your issues?
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OBJECTIVES OF RECOGNITION
• Increase retention or decrease turnover
• Maintain a positive work enviornment
• Create/maintain a culture of recognition
• Motivate high performers
• Reinforce desired behaviors
• Support organizational mission and values
• Increase morale
• Becoming an employer of choice
• Encourage safety
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CREATING A WINNING RECOGNITION
PROGRAM – 5 TIPS
1. Align pay or reward to organizational results
2. Set meaningful goals and targets
3. What’s in it for the workforce?
4. Think about differences across the workforce
5. Speed of business and organizational lifestage
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# 1 WINNING TIP - ALIGN
• Align Employee Recognition Programs to organizational
values
and HR Strategies – What are your company’s goals and
objectives?
• Having more than one program
• Recognize ongoing effort by employees to strategy
• Clear standards of measurement
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# 2 SET MEANINGFUL GOALS
• MBO’S, SMART, KPIs, – cash rewards
• Clear measures and goals of accomplishment – non-cash
• Goals should be measurable and time bound
• Simple is good, easy to explain
• Reward the right behaviors with correct goals
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# 3 WHAT’S IN IT FOR THE WORKFORCE?
• Effort provided equals the value of reward
• Provides what the employee desires
• What motivates the workforce?
• Does the total rewards package make sense?
• Money or award?
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# 4 DIFFERENCES IN THE WORKFORCE
Looking at the differences by Generational and Job Function:
GENERATIONAL JOB FUNCTION AND LEVEL
Baby Boomers – Private; Contests; Retirement Accounting/Finance
– Variable Costs
Gen X – Cash & Benefits; Good Mix Sales – High Risk, High
Reward, Cash
Millennials - Immediate Feedback; Recognition Entry Level – Base
Pay; Cash in Pocket
Gen Z – Realistic; Social Media; Personal Growth and
Challenges
Human Resources - ????????????????
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# 5 BUSINESS ORGANIZATION LIFESTAGES
Inception
Growth
Maturity
Time
DeclineInception – Start-up; Cash Light, No Structure
High for Rewards & Recognition
Growth – Cash Better; More Variable Rewards
Individualized Rewards tied to Engagement
Maturity – Cash Flow; Systems in Place
Individualized and Team Rewards tied to Engagement
Decline – Everything is a question mark?
Individualized Rewards tied to Effort
CYCLE REWARDS
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TYPES OF PROGRAMS
NON – CASH PROGRAMS CASH
• Length of Service • Incentive Bonus Payments
• Peer to Peer • Employee Referral Bonus
• Wellness • Spot Bonus
• Length of Service Recognition • Hiring Bonus
• Motivate Specific Behaviors • Company-wide Bonus
• Suggestions or Innovative Ideas • Team Incentive Bonus
• Major Family Events • Retention Bonus
• Successful Accomplishment • Profit Sharing
• Above and Beyond • Market Premium Bonus
What types of programs do you utilize?
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HOW DO YOU MEASURE SUCCESS
• Employee satisfaction surveys
• Usage rate/participation rates
• Number of nominations
• Turnover
• Productivity increase
• Customer surveys
• Return on Investment
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TYPES OF AWARDS PRESENTED
• Certificates or plaques
• Gift certificates for product purchases
• Company logo items
• Food – pizza party, ice cream truck
• Jewelry – necklaces, lapel pins, watches
• Household items – vases, china
• Electronics – cameras, televisions
• Recreational Items – sporting equipment
• Gift certificates for personal services – spa treatment, maid
service
What has been the best award you have given?
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BEWARE!!! – FLSA AND OVERTIME PAY
• A bonus that is given to motivate job performance,
productivity, quality or
accuracy must be included in the regular rate of pay when
determining an
overtime rate for non-exempt employees. (Non-discretionary)
• Exceptions:
• Holiday/gift bonuses as long as not linked to hours worked or
production
• Discretionary Bonus – Not known or announced in advance, or to
serve
as a motivator for performance. De minimis fringes for
non-exemmpts.
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https://www.shrm.org/ResourcesAndTools/hr-topics/compensation/Pages/Holiday-Gifts-Taxable.aspx
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REVIEW
• Tailor the recognition program to your organization
• Align the program to organizational values and HR
Strategies
• Get top management to participate and support
• Have success measures in place
• Choose your awards carefully
• Celebrate the recognition
• Make sure your compensation is fair and equitable – Total
Rewards
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My favorite recognition award is called a,
DO NOT DISTURB DAY !!!!!
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Thank You!
Carol L. KardasSPHR, CCP, SHRM-SCP
[email protected]
860-673-4162
facebook.com/kardaslarson
linkedin.com/company/kardaslarson
@KardasLarson
KardasLarson LLC
www.KardasLarson.comwww
mailto:[email protected]:[email protected]:[email protected]:[email protected]
