As an intern and college graduate, I have many friends who are already working for “the man.” When I ask them how they like their job, what they do or how work has been, the response is always the same.
“Work is work.”
This fills me with inspiration and excitement for my future every time.
Live the dream!
After a few more nosy questions, I have a friend who tells me how he really does love his job. He tells me that he doesn’t necessarily love what he does, but he loves the people he works with and the atmosphere that exists there. We are talking about great stuff:
- Work days spent playing golf
- Ski trips
- Business trips to Las Vegas
- Christmas bonuses
- Margarita happy hours
- Company BBQs
Just to name a few.
No, they’re not hiring. Not that I’ve asked on more than one occasion.
Some say that liking your job is all about liking the people you work with. Some say that it truly is all about the money. As human beings who thrive on social interactions, I think we need and want more than just a fat paycheck every month.
I know that I do.
The company my friend works for provides benefits and perks to increase employee engagement, reduce turnover and align core values by creating an atmosphere that inspires employees. These are the core principles behind the rewards and recognition industry, which specializes in implementing organized software or service solutions that make it easier to recognize employees when they deserve it.
Having an effective rewards and recognition system in place can result in an improved bottom line, but what motivates employees can also add up to more than just dollars and cents. In certain instances, a highly engaged workforce with a strong culture of rewards and recognition can impact turnover rates. A thoughtful program can decrease turnover as much as 50 percent. In fact, 85 percent of employees would like to have their efforts recognized — yet more than half don’t believe their company cares about them. Furthermore, 69 percent would work harder if they felt more appreciated.
So get with it. Here are some ideas:
- Companies offer systems that allow employees to earn points that can be exchanged for different rewards.
- They also have anything from news feeds to certificates that allow employees to compliment each other on a job well done.
- From what I’ve read and learned thus far, implementing such a thing is much easier said than done, which is why I personally think it is a great idea to buy a program like this that already exists instead of trying to create your own.
And a good rewards and recognition program is more than a free iPod or grill. It’s being noticed and recognized for the work you do.
Here are a few recognition companies to keep an eye on. They were ranked on HRO Today’s 2011 Baker’s Dozen list of top providers in recognition services:
My humble opinion:
- Salary = Employee time
- Rewards & Recognition = How employees spend their time
Let me know what you think or how you feel about any existing programs you might have where you work. What do you like? What motivates you?
What have I missed?
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{ 6 comments }
One thing you missed is that each and every one of your company examples makes their money by selling awards not engagement. When incentive and reward companies make money based on the impact they actually have versus the number of toasters shipped then we have a list of true “engagement” companies.
Also – only one on the list is even in the top tier of reward suppliers today (over $200 million in sales.)
The truth is with proper management training and work design you can create greater levels of engagement than you can simply by throwing another reward out there. I’ve interviewed zappos – they have a very minimal approach to rewards and they have great engagement.
It’s not about the points, the trips, the toasters. It’s about the manager and their ability to design work that fits the employee, provide feedback on progress and the ability to give teh employee some control over the workload. The “thank you” is icing – not cake.
Too many HR folks think buying a system will solve the problem. It won’t. Once you get the management team trained and doing the right thing – THEN put in place a system that reinforces the team and its work.
I asked Craig to survey the rewards/recognition landscape and list the top providers — not endorse them. Paul, can you do us a favor and list to some great consulting firms that help companies get the management team trained and doing the right thing? That would balance Craig’s article nicely. Thank you. – Laurie
Paul, thanks so much for your comment. Valuable insight for someone like myself who is new to “the space,” and trying to soak up everything I can.
Also, I agree with what you had to say about the importance of management training– the friend I mentioned early in the blog actually experiences perks of successful management and a great manager to employee work relationship.
Thank you, Craig
You’re welcome…. sorry if I came off a bit rough but one of the plaques of the rewards industry is companies who continue to tout their expertise in motivation and engagement when in fact they are simply great shippers of stuff. I think we need to be careful of creating the impression that one size fits all and that stuff drives engagement. People (like your friend’s great manager) drive engagement. The rewards stuff can almost be eliminated if you have great management.
Top fulfillment (and some consulting) providers (in billing not necessarily in Social Media reach)
Martiz
BI
AIMIA (formerly Carlson Marketing Group)
Globoforce
MotivAction
ITA Group
Most of these folks will do consulting – but only as an adjunct to doing the reward system. Globoforce has probably done the best at creating a stand alone consulting arm with respect to recognition yet the lion’s share of their billing comes from the reward side of the invoice.
Some of the companies that can help with just pure consulting are big names like:
Aon
Hay
Bersin
Blessing White
and me of course
There are many other smaller companies that can help from a consulting service but few have a connection to the fulfillment world.
Not at all, I always appreciate hearing how it really is.
And thank you for adding some great consulting firms and balancing the post out, as Laurie put it!