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Awards, Rewards, Recognition? What does it all mean and how do I implement something that will be highly values by our employees? "Recognition", is the latest buzz in the business world. Leaders have heard the terms and read about some amazing results, but how do you implement recognition in a way, which will both increase performance and last the test of time. This presentation defines recognition and shows some best practices to implementing recognition systems; processes and rituals that will be both highly valued and persist the test of time. Recognition can be tricky, but having some guidance can make a huge difference. What types of recognition systems exist? What is the difference between all these systems and which ones are right for your organization and what you are trying to achieve. And do you even need a system at all? What process can you implements so that recognition doesn’t backfire on the organization so that employees actually get a multiplying benefit from it. Learn how to you educate for great recognition and prevent it from turning into sarcasm. What rituals or events can be added to assist with the excitements and value, allowing recognition to be perceived authentic and sincere. How to keep these rituals recurring and fresh while not seeming scripted and rehearsed. How one can bring all of these things together implemented in a succinct manner that will shift your workforce in a positive direct and create a culture of both micro and macro recognition. What are some of the expect results of implementing a recognition system correctly. Recognition Implemented!
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© 2011 Break the Equation | Proprietary and Confidential 1
HIGH VALUED RECOGNITION, IMPLEMENTED
by John E. Smith @BreaknEquations
© 2011 Break the Equation | Proprietary and Confidential 2
About me….
John E. SmithCEO & Chief Evangelist, [email protected]
BreakTheEquation Blogwww.breaktheequation.com @BreaknEquations
Practitioner
20 Years C-Level
Serial Entrepreneur
Corp Culture Expert
Best Place to Work
Inc. 500
Author/Speaker/Consultant
© 2011 Break the Equation | Proprietary and Confidential 3
Recognition? What Is It?
© 2011 Break the Equation | Proprietary and Confidential 4
Recognition, What Its Not!
•Rewards
•Awards
•Compensation
•Competition
•Social Network
© 2011 Break the Equation | Proprietary and Confidential 5
Recognition as an Equation
Great Work || Appreciation || Affirmation Directly Communicated
Recognition =
© 2011 Break the Equation | Proprietary and Confidential 6
Really?
© 2011 Break the Equation | Proprietary and Confidential 7
Recognition
•Gratitude•Appreciation •Confirmation•Acknowledgement•Affirmation
© 2011 Break the Equation | Proprietary and Confidential 8
Elements of Recognition
•Person•Value Level•Impact•Reason•Personal Message
Optional •Core Value / Goal•Incentive•Audience
© 2011 Break the Equation | Proprietary and Confidential 9
Make Recognition of High Value
•Timely•Personal•Specific •Genuine•Context & Story•All & Often•Fun•Leave Them High•…
© 2011 Break the Equation | Proprietary and Confidential 10
Why???
•Loyalty •Performance•Engagement•Growth•Motivation
•Self-Confidence•Self-Awareness
© 2011 Break the Equation | Proprietary and Confidential 11
Results of Effective Recognition Programs
2x
Innovation
33%
Proactive
5%
> Salary
© 2011 Break the Equation | Proprietary and Confidential 12
Results according Gallup
27% Higher Profits
50% Higher Sales
50% Higher Customer Loyalty
58% Higher Productivity
© 2011 Break the Equation | Proprietary and Confidential 13
Results according to Deloitte
31% Lower Turnover
60% Higher Engagement
© 2011 Break the Equation | Proprietary and Confidential 14
Training
•Define•Language•Expectations •Leadership•Examples•Hands On •Hand Outs•Refresher •Orientation •…
© 2011 Break the Equation | Proprietary and Confidential 15
Champions
•Volunteers •Extra Training •Leadership•Accountable •Project Tacking•Shared Practices•Extra Benefits •Start meetings•Recognize •…
© 2011 Break the Equation | Proprietary and Confidential 16
Visible
•Public Places•Social Areas •Celebration•3D (print out) •Social Networks•Sent Home•News Letter•…
© 2011 Break the Equation | Proprietary and Confidential 17
Celebration
•Scheduled•Highly Promoted•Leadership•Special Selection •Valuable•Authentic •Expand Beyond •Benefit•Leave Them High / Energy •…
© 2011 Break the Equation | Proprietary and Confidential 18
Getting Leadership Buy-In
•Executive Summary•Problem•Analysis•Solution Options•Preferred Solution •Cost-Benefit Analysis•Recommendations•Implementation Plan•…
© 2011 Break the Equation | Proprietary and Confidential 19
Keep It Going
•Champions•Measured •Leadership •Fake It (at times)•Give It •Annual Review•Integrate •Yearly Story•…
© 2011 Break the Equation | Proprietary and Confidential 20
Thank You!
John E. SmithCEO & Chief Evangelist, [email protected]
BreakTheEquation Blogwww.breaktheequation.com @BreaknEquations
