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Employee Recognition That Has Impact

Your Checklist to Starting an Efficient Recognition Program
Wednesday, January 16, 2019

Published by: Online Rewards Employee Recognition

Employee Recognition

It goes without saying that the human resources of a company are arguably the most important resources. This is why it is imperative that businesses continue to keep their employee happy, while improving their productivity and overall satisfaction. There are different ways businesses are approaching it these days. However, one way that has stood out over time is the use of employee recognition programs.

These programs are designed and developed to recognize employees that have stood out in an organization based on pre-set metrics. With employee recognition, people in a company are bound to feel loved and respected when they are recognized for their hard work. There is a need to understand the importance for employee recognition in a company.

Employee Recognition
Employee Recognition: Low Cost, High Impact, Gallup

Also, there are some key stakeholders that have the onus to implement these recognition programs. If they do not implement them, then the business will be lagging behind in recognizing their employees. Furthermore, it goes beyond implementing just any employee recognition program.

A company has to understand its employees, its business resources, and overall company structure before deciding on the right employee recognition program to implement. This will ensure that only impactful and effective employee recognition schemes are developed.

Employee Recognition
Why Employees Quit, Online Rewards

We will explore all of these in this post, providing businesses with all the knowledge they need in implementing good employee recognition programs.

The need for employee recognition and the role of the HR program management

There is a never-ending war for the best talents in any field. These best talents are responsible for developing novel solutions in forms of products and services that give a business its competitive advantage. Hence, it only makes sense for businesses to protect their talents, which are their most valuable assets.

When employees are recognized, productivity increases, up to 12 times more than average. There is then an inherent desire to maintain the same performance that led to the recognition. As a result, employee motivation improves and there is a quest to become recognized as well, leading to overall performance improvement. There is also a high chance of retaining employees when they are recognized as opposed to when they are not. The overall morale in the organization increases, work accidents reduce, absenteeism and stress reduces, and there is a greater service to customers, leading to more revenue for the company.

Creating an employee recognition program is becoming important amongst human resource management. In order to be relevant and up to date in the present HR management world, it is imperative that one is able to design and develop the best employee recognition schemes that benefit a company and its employees. In order for HR program management to be able to design these programs, there are two skills they must possess. We will explore these two skills in detail as well as propose checklist to developing them.

Checklist for starting an impactful employee reward and recognition program

Impactful employee recognition schemes involve two aspects. The first involves the ability to actually identify an opportunity or performance that needs to be rewarded or recognized. This is a very subtle skill that is undervalued.

In order to hone this skill and start an impactful recognition scheme, the best HR management should be able to set key and sustainable metrics that employees can work up to. They should be able to communicate expectations and goals clearly to employees so there is no confusion.

The successful management should be able to communicate how these employees tasks fit into the overall impact of the company. Given this, it is important that the metrics and objectives set for the employees are in line with the company goals.

This means that the company achieves its goals as the employees are motivated to perform more at their tasks. Such recognition goals should also be fair and flexible to every member of the organization.

One employee should not be at an advantage to meet such metrics compared to others. Finally, it is imperative that even when such metrics are not set, there are other ways to be able to detect recognizable performances.

The second skill is the design of the recognition award or benefit that is given to an employee for a job well done. This is another very tricky part of designing an employee recognition program as different employees may desire to be recognized in different ways.

The value of the compensation for the recognition should be in line with with achievement or even exceed it, but should never be less. It is also good that such employee recognition is presented in public before other members of the organization.

The frequency with which the award is given is another concern that should be considered here. Additionally, the financial cost of the award is important. It is necessary that a company should be able to afford the same recognition award for consecutive years or even improve on it.

The last, but not least:

Employee Recognition

There you have it, a comprehensive guide to creating an impactful employee recognition program. Many companies usually have a hard time starting such programs. Online Rewards is a company that helps businesses develop the most effective employee recognition program tailored to their business needs. With Online Rewards, you can be sure that your employees will get that recognition they deserve.

4 Tips to Create an Effective Incentive Program

How to Make Your Sales Incentive Program More Personalized and Effective
Tuesday, November 27, 2018

Published by: Online Rewards Sales Incentives

Sales Incentives

Today it is just not enough to have a sales incentive program—everyone has those. Your incentive program has to be effective for you to get the desired result. If you have not noticed a boost in employee motivation since you introduced your sales incentive program, perhaps it is time to put it up for review. You should consider making the program more personalized for all your staff.

A personalized incentive program uniquely affects all your employees. Personalization of your incentive program requires you to offer different incentives such as cash bonuses, paid time off, specific products, or gift cards. Your employees can then choose the incentive they would prefer after achieving the required goal. This is a great motivator because your employees know they will get exactly what they want.

Let’s take a look at four tips that will help you improve your sales incentive program.

1. Look beyond money

It is easy to believe that you can solve the problem of staff motivation by throwing money at it. However, money appears to work best in attracting and retaining people rather than being their primary motivator. An article on forbes.com states that emotional motivators are more effective than physical sources of motivation and they are usually conveyed informally. Peer-to-peer recognition is an excellent example of an emotional motivator because people appreciate approval from their peers.

2. Know what works best for your employees

It is important to note that not everyone can be motivated by the same thing. Understanding what drives your employees is a vital element of increasing their performance. You should organize a sales incentive program that will consider the different personalities within the organization and customize the methodology and awards accordingly.

3. Set reasonable quotas

Nothing is more demoralizing and frustrating than having an unreasonable target. One thing that your sales representatives will ask of you is that you give them a reasonable and potentially attainable quota. You need to be careful when allocating quotas for your staff so that you don’t kill their morale before they even start. A reasonable quota must be challenging yet achievable to provide the motivation required for optimal performance.

4. Select the right metrics for your compensation program

Choosing a compensation metric for your organization goes beyond merely selecting the first one you come across. You have to consider if the metrics will fit your organization’s structure to get the proper outcome. Ensure that everyone is working towards one common goal by involving the heads of every department in your organization in the process of selecting the right metrics. Just make sure that your company goals are put into consideration when choosing a metric.

Developing the right sales incentive program for your organization should be high on your priority list because it gives your organization a stable structure for impending growth. Although numerous factors will help you in putting together an effective incentive program, these four tips stand out and will help you in your task. In order to personalize your incentive program at an affordable cost, look no further than Online Rewards.

Sources: 2018 Global Human Capital Trends by Deloitte

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