Right now the need to keep your people engaged, motivated and productive has never been greater. We know there's a direct, proven link between engaged employees and increased turnover and profitability - it's called the Service Profit Chain.
So engaging your employees really matters; and recognising and rewarding your people is one of the best ways to do this.
According to Jeffrey Pfeffer*, “high involvement companies (those who empower, actively engage, recognise and reward employees (in good times and bad) have consistently outperformed their competitors over the long haul."
In
organisations where big remuneration packages and the annual bonus are not the
core reward mechanism for the majority, and where salaries of those at the coal
face are more in line with the national average, brand-centred recognition and
reward programmes can represent the biggest opportunity to engage staff each
and every day.
The
best recognition and reward schemes are created directly in line with the brand
and have a powerful ripple effect through a company, creating a culture of
recognition. A place where people enjoy their time because they know the
contributions they make are noticed. It allows an organisation to shine lights
on those best living the brand, encouraging others to do so as they go.
So why in Woodreed's Brand Inside Survey were 37% of organisations still approaching R&R with generic token offerings made in an ad hoc way and a shocking 20% having no process of reward and recognition at all?
*Jeffrey Pfeffer, The Human Equation. Building profits by putting people first
*Jeffrey Pfeffer, The Human Equation. Building profits by putting people first
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