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(Showing all posts labeled Recognition)



What Drives Employees To Perform? Part 4


As our 10-part series continues, Robert Gray, President of Insightlink Communications identifies the 5th top driver of employee engagement according to Survey of the American Workforce, a recently completed national survey conducted annually by Insightlink.

Enjoying what you do was found to be the number one driver and the single most important motivator of job satisfaction in the US today. The 5th most important driver is Reward and Recognition and this it turns out, is the one nearly every employer blows. Fewer than four-in-ten employees give employers high marks for reward and recognition.

Still, a number of employers understand the importance of awards and incentives that highlight, validate and value outstanding work. Such programs keep employees motivated and are effective methods of reinforcing corporate expectations and objectives. To this end, research suggests that formally recognizing between 5 percent and 8 percent of a workforce every week is the tipping point between a forgettable recognition program and one that becomes strategic to the organization.

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Show Employees Appreciation And Retain Top Talent With These Five Perks

When asked about the most important factor in job satisfaction in a recent survey conducted by the Society for Human Resource Management, 72 percent of respondents agreed that respectful treatment of all employees is paramount. When considering your company's benefits, respect should be a common theme as well. Here are five perks to show your team that you respect them and value their hard work so you can retain top talent for the long haul.

Education Subsidies

Your employees' education doesn't just help them, it benefits the company, too. Encourage all employees to advance their skills with continued education. Whether it's taking a single class or earning a Master's degree or doctorate, your company should encourage employees to seek out more knowledge in order to get maximum fulfillment on the job. By subsidizing education costs, your employees can also feel more respected and valued.

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Beyond Cash: 4 Creative Ways to Reward Your Team

 Employees who work in a recognition-focused company are five times more likely to feel valued and eleven times more likely to feel committed to their jobs and organization's mission, according to best-selling author Bob Nelson. But if you think there’s not a budget for recognition programs and incentives, think again. Cash actually does little to motivate employees to work harder.

 A Harvard Business Review article looked at the research on employee incentives and discovered a promise for a gift-wrapped water bottle actually increased worker productivity by 25 percent. Meanwhile, an offer for an attractive cash bonus did nothing to speed-up productivity or efficiency in another group.

 Recognition programs do more than just motivate employees. They can also help retain top talent and create a more dedicated workplace. Taking cash out of the employee incentive equation can actually generate more buzz about your perks and energize your workplace. Get creative with your offerings and regularly solicit feedback from your employees to figure out what works best. Here are some ideas to get started.

 

 

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The Best Employee Perk Imaginable

When CEO’s get it right we can’t help ourselves, we have to shout out to them! This week our shout out goes to Sir Richard Branson at Virgin Group for his remarkable new job perk announcement.In a landmark move to show his support and commitment to his employees, he is offering new fathers, and mothers, who have been with the company at least 4 years, the opportunity to take one year off of work to go be dads and moms while Virgin pays their salary in full.

This latest move, described as ‘unimaginable’, positions Branson at the top of our most respected CEO’s because he clearly understands the employer employee relationship. He gets that when employees feel that their employer really cares about them, they respond by being the best employees any CEO could ask for. It is a 100% win-win situation.

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Employee Retention Does Not Have To Be So Hard

Just Look at What You've Got!

What kind of company hires outsiders instead of promoting from within? Maybe not a good one but that doesn’t stop many companies from doing it. Why would anyone who values their employees think this is a good idea and what message are they sending to those employees? To be passed over is damaging in so many ways but it especially damages morale, trust and company culture. Many business leaders fail to see how harmful this practice is and how employees interpret it to mean ‘somebody from the outside is better than anybody on the inside’. This is demoralizing to say the least.


John Hoolon from TLNT recently reviewed a study released by Lee Hecht Harrison that explored why organizations are missing the opportunity to hire from within. The study confirmed that many companies have pipeline problems, as a third of employers think that their internal talent pipeline is poor or non-existent, and only 4 percent think that their talent pipeline is excellent. This might explain why so many go outside rather than promoting from within. Yet Hoolon points out that only half of talent managers have regular informal conversations with their employees about their future with the company. This suggests that employees have good reason to become restless because their managers ‘simply aren’t spending enough time talking to their people about where their careers are going’.

 

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Celebrating Employee Birthdays Can Build or Bust Morale

Should We Celebrate or Not?

Would you sue your workplace for saying you were ‘over the hill’ on your birthday? Some people have sued, so while celebrating employee birthdays is one way to show your staff they are appreciated and valued, you have to do it with care. In a recent SHRM article, titled ‘To Celebrate Birthdays at Work or Not?’ all the little do’s and don’ts to planning office birthday parties are provided to help us make sure we are recognizing our employees without risk of offending or discriminating against anyone. There were also some great ideas and ways to celebrate employees who are open to some recognition on their special day.

 

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Good Leaders Focus on the Positive

Acknowledging Contribution is the 6th 'C' of Employee Engagement

As our most recent employee norms study showed, only about half of all employees are actively engaged in and committed to their jobs. Most employees have ‘checked out’. The reality is that organizations that do a better job of engaging their employees are more productive and therefore more successful and one of the simplest and most effective ways to engage people is to demonstrate and acknowledge how others are contributing to their organizations success. When employees see that their effort matters, they are more likely to be inspired to do a good job.

 

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What Matters Most to Employees

The Fifth ‘C’ of Employee Engagement is Congratulate

You will never get the best effort from employees simply by paying them more. Employees who only want more money will never be satisfied with what they are paid and their expectations will rise with each increase. What employees really need and want is to be congratulated, recognized or appreciated in a meaningful way for doing a good job. Recognition is so important that over 75% of people who quit their jobs say it is because they were not appreciated. And our research shows that only 36% of U.S. employees are currently satisfied with the level of recognition they receive at work.

 

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Beware The Turnover Spike

There is never a dull moment in the employment cycle. A current example shows that in the U.S., unemployment rates are declining while turnover rates are escalating. Some researchers are actually predicting turnover rates are going to ‘spike’ in the U.S. this year, as more people are back to work and feeling more confident about their futures and job prospects. Consulting firm Accelir surveyed human resource professionals and corporate leaders in the summer of 2013 and published a paper titled “Rewards and Recognition: 2014 Trends Report”. 


The report cites government statistics showing that job tenure in the United States is less than five years. Other research has shown that most Millennial workers expect to stay at a job no more than three years. Turnover is expensive and while sometimes it cannot be avoided, you should be doing the right things for your employees to minimize its impact.

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About

Insightlink Communications are experts in employee survey design, data collection and analysis. Since 2001 we've helped companies of all sizes measure and improve their employee satisfaction and engagement.



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