10
TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS IN 2019 Highlights from our most popular thought leadership downloads

TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

  • Upload
    others

  • View
    3

  • Download
    0

Embed Size (px)

Citation preview

Page 1: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

TRENDICATORS BEST PRACTICES REPORT

OUR TOP REPORTS IN 2019Highlights from our most popular thought leadership downloads

Page 2: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

Introduction

2019 Top Reports 1

Each month, the Trendicators research division

of Engage2Excel publishes reports based on

original data from our nationwide surveys as

well as insights and best practices from industry

leaders and experts.

The survey data we collect is unique in the

industry in that it documents the preferences

and perceptions of employees and job seekers

across all major industries and job types with

proportionate representation of gender, age

group and racial/ethnic origin.

Distributed to a subscriber base of more

than 75,000 individuals, Trendicators reports

seek to bring a fresh perspective to the

topics and trends that are of interest to

HR and business executives.

This report presents highlights from our most

popular downloads, covering a wide range of

subjects related to employee engagement,

recognition and recruiting. To access the

full versions of these and other reports, visit

engage2excel.com/resources.

Page 3: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

2019 Top Reports 2

Why Do Employees Leave?

TOP DRIVERS FOR INTENT TO LEAVE

“My pay is directly related to how well

I perform.”

INTEND TO STAY

INTEND TO LEAVE

69%

37%

“My manager has made a personal investment in my growth an development.”

INTEND TO STAY

INTEND TO LEAVE48%

67%

19% GAP

32% GAP

58%

40%

30%

GENERATIONAL DIFFERENCES

“I am seriously considering leaving my organization in the

next 12 months.”

MILL

ENNI

ALS

AGES

22-

37

GEN

XAG

ES 3

8-53

BOOM

ERS

AGES

54-

72

Concern over employee retention was no doubt responsible for the

popularity of our report, Why Do Employees Leave?, which is based on

a regression analysis of a survey of 5,000 individuals. To understand the

drivers for turnover and retention, we analyzed the differences in response

rates for employees who expressed their intent to leave their organization

“within the next 12 months” and those who intended to stay. As the results

below show, the organizations doing a better job of retaining staff are

those who attend to issues of fair compensation and whose managers are

involved in the growth and development of subordinate employees.

Page 4: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

The Career Experience Continuum

2019 Top Reports 3

RETE

NTIO

N IN

FLUE

NCES

SE

PARA

TION

INFL

UENC

ESPR

OGRA

M

IDEA

S

ONBOARDImportant aspects of the onboarding experience:

72% say interaction with employees is important

67% say being recognized or praised is important

41% say a poor onboarding experience would cause them to start looking for another job

Implement a total recognition and rewards system

Utilize systems to track and manage education and career growth

RECRUIT Top 3 reasons candidates say will keep them engaged with a recruiter:

#1 Openness & honesty#2 Following up as promised#3 Knowledge about the job role

Top 3 reasons candidates say will cause them to reject a job offer:#1 Lack of respect #2 Poor job fit#2 Unfair compensation

Create a preboarding program to make new hires feel welcome before day one

Build recognition and employee interaction into your organization’s onboarding processes

DEVELOP/RETAINEmployees want performance recognition programs:

89% say it increases engagement

85% say it makes them feel more valued

Employees WITHOUT performance recognition programs are 55% less likely to feel there is a promising future with their employer

Recognize and reward specific

behaviors and/or achievements

Engage2Excel conducts ongoing research to provide employers with

practical, evidence-based guidance for improving career experiences

at influential points across the talent life cycle. The table below is from

our report titled, The Career Experience Continuum, which presents

ideas on how to attract, motivate and retain employees from pre-hire

to retirement. Organized according to three phases of the talent life

cycle, these survey results spotlight important retention and separation

influences, as seen through the eyes of employees.

Page 5: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

2019 Top Reports 4

Job Seeker Survey Reports

“What is the most important reason you are or would be willing to leave your current employer?”

20% Unfair compensation16% Lack of respect13% Uninteresting work 13% Concern about job security

“What drives you to stay engaged with a recruiter?”

#1 Openness & honesty#2 Following up as promised #3 Knowledge about the job role

82% of passive candidates say they are willing to learn about a new opportunity

46% of new hires would consider other job opportunities if they did not hear from the company between acceptance and their first day on the job

The 2019 Job Seeker Survey Report (Parts 1-3) explores the perceptions

of active and passive candidates with regard to the role of recognition

throughout the recruitment process, perceptions of the recruitment

process itself and perceptions about pre-boarding and onboarding.

Survey highlights from these reports, shown below, paint a clear picture

of what candidates really want. Lack of respect is the second most

important reason employees leave employers. Similarly, a significant

majority of candidates say being recognized for positive behaviors is

important at each stage of the hiring process.

“How important is being recognized for positive behaviors during each of the following phases of the hiring process?”

66% Pre-Offer 66% Post-Offer (Before Day 1) 71% During Onboarding74% After Onboarding

Page 6: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

Great Recognition Moments

2019 Top Reports 5

Employee recognition plays a vital role in influencing the attitudes

and actions of employees, and motivating and celebrating behaviors

that bring company values, aspirations and policies to life. Our Great

Recognition Moments report presents insights, strategies and examples

from eight Engage2Excel clients that do an exceptional job of integrating

recognition into operations and the daily experiences of employees. The

programs represented include different types and styles of recognition for

performance, safety, demonstration of core values and employee loyalty.

Atrium Health recognizes that teammates are its most valuable asset. Last

year, teammates celebrated great work, special occasions and years of

service by sending more than 200,000+ eCards. The organization’s Good

Catch Program resulted in a 47% increase in annual teammate submissions

for detecting and preventing a potentially harmful event.

McLane is a leader in the supply chain services industry, with more than

20,000 employees. The “McLane recIGNITION Station” website makes it

easy for employees and supervisors to grant and receive recognition and

use accumulated points to shop for rewards.

PNC is one of the largest diversified financial services institutions in the

United States. In a field where employee turnover is a challenge for all

companies, PNC places a high priority on honoring employee loyalty

throughout the career journey, celebrating milestones in years one, three

and five, and every five years thereafter through to retirement.

Par Pacific, a leading oil and gas exploration and production company,

understands that an effective recognition and rewards strategy needs to

start before day one and span the employee’s tenure. The company provides

each new employee with a branded welcome box designed to spark an

emotional connection before their first day on the job.

Page 7: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

Great Recognition Moments

2019 Top Reports 6

Every week, more than 150 million Americans go to work with the

expectation that they will make decisions that are in the best interest of the

company they work for and its customers. The organizations featured in our

Great Recognition Moments report make a difference in the daily lives of

employees by demonstrating the respect and appreciation that employees

crave and promoting the values and behaviors that lead to exceptional

performance. Engage2Excel thanks each of our featured organizations for

their commitment to making recognition matter by creating compelling,

in-the-moment recognition experiences for employees.

TSYS has been a leader in the payment processing industry since 1983. Last

year, the company turned its 35th anniversary into a year-long celebration

which included an All-Stars Team Appreciation Week. This nod to team

members created countless recognition moments and demonstrated the

company’s commitment to being People-Centered and Performance-Driven.

Six Flags, the world’s largest regional theme park company, makes

employee recognition fun with on-the-spot recognition and rewards cards.

The cards explain why the employee is being recognized and include either

points or the opportunity to spin a rewards wheel for free drinks and food.

UniFirst, one of North America’s largest workwear and textile service

companies, recognizes the person who best exemplifies the company’s

Core Values at every one of its 260+ locations. Each employee is presented

with a special gift, earns a day off with pay, and their name engraved on a

plaque that remains on permanent display at their UniFirst location.

Bright Horizons operates approximately 1,100 child care centers, caring

for more than 120,000 children in the U.S. and around the world. Their

HEARTfelt Thanks recognition platform empowers supervisors to celebrate

employees who exemplify Bright Horizons’ HEART values of Honesty,

Excellence, Accountability, Respect and Teamwork.

Page 8: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

2019 Top Reports 7

The Remote Workforce

“My manager provides me with recognition and praise

for doing good work.”

REMOTE WORKERS

ALL WORKERS

84%

76%

“My organization recognizes productive people”

REMOTE WORKERS

ALL WORKERS

75%

67%

“My manager has made a personal investment in my growth and development.”

REMOTE WORKERS

ALL WORKERS

66%

53%

69%

Nearly three-quarters of millennials express a desire to have more

opportunities to work remotely. What influence does working remotely

have on key drivers for engagement? To find out, we conducted a

regression analysis of data collected via our nationwide survey of 5,000

U.S. employees. The results presented in our report titled, The Remote

Workforce, reveal that individuals who work remotely at least one day

a week have a greater tendency to experience recognition from their

manager and organization and are more likely to report that their manager

has made a personal investment in their growth and development.

Page 9: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

2019 Top Reports 7

Employee Recognition Budgeting

Fixed Budget

VariableBudget

Allocated Budget

A dollar amount is budgeted for the program for a specified period of time, usually 12 months. The business rules of the program are then designed to stay within the confines of that budget.

COMMON BUDGETING METHODS

Variable budgets are based on outcomes and vary according to the actual performance achieved. These budgets are usually determined by financially defining the outcomes and what they are “worth” to the company.

IDEAS FOR IMPROVING EFFECTIVENESS

Using allocated budgets, each division, vice president, location or manager is allocated a budget for a specified period of time. Budgets are based on stated criteria such as $200 per employee, 1%-2% of payroll or a flat amount allocated to a group, division or entity.

Create a written recognition strategyDocument your enterprise recognition strategy with key goals and objectives, and update it every year. Surprisingly, only 55% of organizations report having a written recognition strategy.

Get leadership buy-in goals and objectivesNearly half of all senior leaders are either unsure about recognition as an investment or view it as an expense. Engage, educate and get endorsement from your leadership on your recognition strategy to help ensure program success.

Decide on metrics for program effectivenessSelect one or more metrics for benchmarking the effectiveness of each recognition program. Use year-over-year program performance as part of your annual budgeting process.

Provide recognition training for managersDon’t assume that managers have the skills they need to effectively recognize employees. Provide training resources to help them understand the “hows and whys” of your various employee recognition programs.

1

2

3

4

In our report, Employee Recognition Budgeting, we offer practical guidance

for building your employee recognition budget and your strategy for tracking,

managing and ensuring accountability for the alignment of recognition

programs with enterprise goals and objectives. As a first step, we offer this

starting point for defining recognition and what it means to your organization:

Employee recognition is the acknowledgment of a company’s staff for

exemplary performance and tenure with the organization. The goal of

employee recognition is to reinforce particular behaviors, practices or

activities that result in better performance and positive business results.

Page 10: TRENDICATORS BEST PRACTICES REPORT OUR TOP REPORTS …€¦ · GENERATIONAL DIFFERENCES ... Implement a total recognition . and rewards system Utilize systems to track . and manage

Engage2Excel helps organizations create unique career experiences

from pre-hire to retirement. We understand what employees really

want, because we look at the entire career life cycle through a

scientific lens. We conduct original surveys, validate best practices

from our client base of 2,700+ organizations and rely on over

three decades of groundbreaking research by our

chief scientific officer, Jack Wiley, Ph.D.

Engage2Excel’s industry-leading solutions for recruitment, employee

recognition and engagement surveys are tailored to each client’s

unique business objectives and are designed to help clients increase

competitive advantage and improve bottom-line results.

To learn more, visit engage2excel.com.

EB10.V1