Employee rewards reinforce your corporate goals and objective

by on May 11, 2009 · 0 Comment POSTED IN: HR Info Center

If you are not recognizing your employees, someone else will.

Ninety percent of managers believe that recognizing employees help to motivate them. Ninety percent. Eighty four percent of managers surveyed in a study saw an improvement in performance when non-monetary employee rewards and recognition were used to acknowledge good performance.

Eighty percent of the managers out there believed that , get their performance reviews at a high level and earn their incentives.

Seventy five percent reported that they get results expected when they use immediate recognition. Not once a year or once a month, but right on the spot and we’re going to talk about how we actually teach people and train people to do that.

And then finally, 78 — and I mean, I could have polled a hundred of these quotes from different studies. Seventy eight percent of employees indicated that it was very important to be recognized by their managers when they did a good job.

Less than 10% of companies have a decent plan in place at a supervisory department level to distribute employee rewards on a non-monetary basis. And yet, we can see how important it is.

Employee rewards have a far greater impact than you think
In fact, I’m going to suggest — I’ll go so far as to make the contention that when you start doing these kinds of pieces we’re going to talk about at each of those levels, you could actually see probably a tenth of 15% productivity improvement in your workforce across the board over a six month to one year period when you start to put these programs in place.

Not only that, but you would be able to hire better people and that in itself will beget bring you better people in the organization.

Do you know what employee rewards your people value

I’m going to assume that everybody on this call has folks that work directly for them. For each of those direct reports, whether you have three, whether you have 12, do you know what it is that motivates each of your people? What employee rewards drive them? What they want from their work? What they want from you as their boss? How do they want to be treated by you?

And this is not something we do in the annual performance review. This is something that needs to be done on a one-to-one basis every single month. We need to be — maybe we don’t ask every one of these same questions of our employees every month, but at least once a quarter, we need to be probing, how am I supporting you? What can I do differently? What is it you’re looking for in your role?

And if we’re not asking these questions, I guarantee it, your best performers will, over time, leave your organization.

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