1HRM
REWARDS & REWARDS & RECOGNITIONRECOGNITION
2HRM
Importance of Importance of Rewards & Recognition Rewards & Recognition
Purpose- share the VERY BASICSPremise- they ARE WORTHWHILE
SPECIFIC ISSUES…
Multiple Expectations
Increased Responsibilities
Organizations’ R & R Structures
Lack of R & R → Stress & Low Morale
3HRM
DefinitionsDefinitions
Rewardsdirect or indirect compensation
Recognition
psychological benefits
Can’t some things be both or either?
4HRM
Distinction Between Distinction Between Rewards & Recognition Rewards & Recognition
REWARDS RECOGNITION
Fulfills Employees’ wants needs
Effects short-term results long-term cultural change
Percentage of compensation to effect behavior
5 to 25 % 2 % or less
Initiates employee behavior
tradition of performance
Creates target specific activity
individual-to-organization bond
Subject to taxation
are subject to taxation
generally not subject to taxation
5HRM
Why do Employees leave?Why do Employees leave?
Lack of recognition (34 percent)
Low compensation (29 percent)
“In the arena of human life the honors and rewards fall to those who show their good
qualities in action.” --Aristotle
6HRM
Designing a Reward ProgramDesigning a Reward Program
The keys to developing a reward program are as follows:
Identification of company or group goals that the reward program will support
Identification of the desired employee performance or behaviors that will reinforce the company's goals
Determination of key measurements of the performance or behavior, based on the individual or group's previous achievements
Determination of appropriate rewards Communication of program to employees
7HRM
Types of Reward ProgramsTypes of Reward Programs
There are a number of different types of reward programs aimed at both individual and team performance.
Variable pay Bonuses Profit sharing Stock options Group based reward system
8HRM
Different Ways to Reward Different Ways to Reward EmployeesEmployees
Flex those hours Send a hand written note Help them connect Reward efforts as well as success Give them a free pass Dole out cream and sugar Offer a swap Applaud their efforts...literally Spread the love Say it with flowers Walk it as you talk it Pass the bucks Share the memories
9HRM
Elect them to the wall of fame Create your own “Club Med” Stoke their passion Give them a place to park it Remember the spouses Publicize their successes Remember the secret words Let them phone it in Make work fun Blow out the candles
10HRM
Top 10 Reward, Recognition, Top 10 Reward, Recognition, Award, and Thank You IdeasAward, and Thank You Ideas Motivational Posters for Recognition Engraved Articles for Excellence and Teamwork Thank You Gifts to Please Individual Tastes Gift Baskets for Rewards More Gift Basket and Container Ideas Chocolate Pleases Almost Everyone Gift Certificates Thank You Cards for Recognition Organization Logo Merchandise If You Don't Do Chocolate, How About Dessert?
11HRM
Different Types of Different Types of Recognition AwardsRecognition Awards
Certificates
Trophies
Plaques
12HRM
Creating a Real Recognition Creating a Real Recognition CultureCulture
Money is Not Enough...
Recognition and Relationships...(recognize)+(reward)+(retain)[Relationships]
“I can live for two months on a good compliment.”- Mark Twain
Why Do You Need a Recognition Culture
13HRM
What Exactly is a Recognition What Exactly is a Recognition Culture?Culture?
People not things
Building good relationships
Including everyone
Giving people meaningful work
Allowing control
Celebrating successes
Doing!
14HRM
How Do You Build a Recognition How Do You Build a Recognition Culture?Culture?
The Little Things That Count A person’s name is magical Remember birthdays and celebrate anniversaries Say hello Visit people in their area Just listen5 A’s of Appreciation Awareness Acknowledge Appreciate Accept Action
15HRM
Forms of recognition...Forms of recognition...
Formal
Informal(Birthday Advisor is used for all employees) Everyday
The basis beneath your recognition culture must come from the identification of core values that move recognition into action
Creating a Recognition Culture: Why You Need It • What is It • How to Build It • The Tools to Help
formal
informal
everyday
16HRM
17HRM
18HRM
19HRM
20HRM
Recognition ActivityRecognition Activity
The 50/30/20 Rule
Manager50%
Org20%
Peer30%
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