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2015 Trends in Recognition:
Leveraging Recognition to Drive Employee Engagement
November 20th, 2014
Rob Catalano CRP, REP@RobCatalanoVice-President, Global Expansion & Engagement, Achievers
Learning Outcomes
1. Let’s Talk About Engagement & Recognition
2. The Workforce is Changing… like, really changing
3. 2015 Trends in Recognition
4. Now what?
2
Newspaper Help Wanted Revenues
Source: Newspapers Association, www.naa.org
VS
Problems are Durable. Solutions Change.
Seismic Shift in the WorkplacePeople work differently. People engage differently. People are motivated differently.
Seismic Shift in the WorkplacePeople work differently. People engage differently. People are motivated differently.
Seismic Shift in the WorkplacePeople work differently. People engage differently. People are motivated differently.
Seismic Shift in the WorkplacePeople work differently. People engage differently. People are motivated differently.
Seismic Shift in the WorkplacePeople work differently. People engage differently. People are motivated differently.
Problems are Durable. Solutions Change.
Old-school engagement strategies
NO LONGER WORK!
Let’s Talk Engagement
Facts from Recent Studies
Top 25% most engaged companies enjoy benefits of:
• 200% annual net profit• 18% higher productivity• 250% revenue growth• 12% greater customer advocacy• 50% fewer sick days• 87% less likely to leave
Facts from Recent Studies
“Research has clearly and consistently proved the direct link between employee engagement, customer satisfaction and revenue growth.”
The Power of an Engaged Workforce
10X Case Era of Study Value of $10K Invested
Performance Relative to Market
Performance Relative to Industry
Amgen 1980-2002 $4.5M 24X 77.2X
Biomet 1977-2002 $3.4M 18.1X 11.2X
Intel 1968-2002 $3.9M 20.7X 46.3X
Microsoft 1975-2002 $10.6M 56X 118.8X
Progressive Insurance 1965-2002 $2.7M 14.6X 11.3X
Stryker 1977-2002 $5.3M 28X 10.9X
Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All - by Jim Collins and Morten T. Hansen (Oct, 2011)
Southwest Airlines 1967-2002 $12M 63.4X 550.4X
CRM versus HCM
Source: Gartner
Source: Gartner Forecast: Enterprise Software Markets, Worldwide, 2011-2018, 1Q14 Update
$41 B
$11 B
HCM Software
CRM Software
Employees are our most
important assets!
CRM versus HCM – Technology Spend
Recognition & Engagement
Organizations with great cultures of recognition see 31% decreased turnover.
Recognition of top performers is the #1 most impactful employee engagement driver.
2015 Trends in Recognition
2015 Trends in Recognition Model
2015 Trends in Recognition Model
Theory of Human Motivation
Salary & Rewards
Job Security
Culture & Values
Recognition
Success
Physiological
Safety / Security
Social / Belonging
Self Esteem
SelfActualization
Extrinsic and Intrinsic Motivation
Source: PEAK: How Great Companies Get Their Mojo from Maslow, Chip Conley
Trend: Peer to Peer Recognition
Everyone must participateAmplify desired values & behavioursRemove barriers
Driving Engagement with R & R
Trend 2: Results Based Recognition
Trend 2: Results Based Recognition
Source: Job Tenure in Britain’, Burgess & Rees
Employee Referrals5,001 Referrals in first three months
Cost Savings$1,000,000 in 7 months
Increasing Customer Satisfaction112% Growth
Start with a Benchmark?
Safety594 Consecutive safe work days (record)
Sales Growth1.1% average resultant sales growth per district
Trend: Results Based Recognition
Recognise performance. Not Presence.Include the journey to the result.Start small.
Driving Engagement with R & R
Trend 3: Social Employee Recognition
Share on Social Networks
Authentically build Employer Brand
Drive Social Recruiting
9
Trend 3: Social Employee Recognition
Where do you anticipate looking for a job when you graduate?
41%
2013
35%
2012
28%
2011
5%2010
Trends in Recognition Model
49
50
What can you do differently tomorrow?
1. ASK employees if they’re engaged (build a benchmark)
2. Identify the behaviours AND results your company wants to see more of
3. Get executive buy-in - use data
5 things you can do differently tomorrow
Best Companies Accredited Organisations vs FTSE
Source: Best Companies’ Engagement Lab – Sep, 2014
1. ASK employees if they’re engaged (build a benchmark)
2. Identify the behaviours AND results your company wants to see more of
3. Get executive buy-in - use data
4. Do it! – Recognise Performance, Not Presence – build a recognition rhythm (and make it SMT)
5. If you’re going to recognise - Re-think Rewards
5 things you can do differently tomorrow
Re-think Rewards?
Re-think Rewards
Meaningful Rewards
Power of Choice and Instant
Locally Relevant
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