Rewarding under performers for one-off achievements – does it make sense?

Rewarding under performers for one-off achievements – does it make sense?

This is one dilemma that many line managers and HR Partners face ; whether to reward an under performer for a significant achievement, as part of the employee rewards and recognition program. In most cases, the Rewards and Recognition Policies might not state anything explicitly, leaving it to the better judgement of the concerned managers.

An important point to note here is that consistent under performers might rarely be around in the system since the performance assessment process would take care of that. Hence, under performance might be a temporary phase or it could be just relative. And more than other employees, these employees need more motivation.

Managers often tend to use all available resources to motivate their employees. This might result in managers tending to ignore the under performers and focusing on the top performers when it comes to rewards and recognition. Hence a truly deserving employee might miss out on a spot award for a significant achievement, due to his or her overall performance history.

Not only is this unfair, but counterproductive as well. The manager might be missing out on an important opportunity to motivate an under performer and putting him or her back on track. Whereas a top performer, who might not truly deserve the award, might actually get it and this might cause any significant change in their motivation levels.

Hence it is our recommendation that awards especially those in the category of spot awards should be given based on the immediate achievements and not the overall track record of the employees. Awards should be treated as awards and not as proxies for the performance assessment process!

Reward Employees for going Social

Typically when candidates consider a job position, they compare the compensation and benefit packages of various employers. You don’t have to be a very large business to offer admirable rewards, as there are small innovations that can make a big difference. The key to great rewards is to make them stimulating while maintaining the brand. Today, social media is becoming an increasingly significant tool for employees to work together with one another. Also, individual social profiles many times often work as advertisements for the company, displaying what its team members have on offer for potential customers.

It helps to encourage your employees to engage more positively on social networks by way of training, tangible rewards and gamification. Employees can collaborate with each other while showing outsiders the kind of innovation that is taking place inside the company walls. Most of the employees use LinkedIn, Facebook and other social networks for business and personal purposes. Employees can develop their personal as well as the company brand by crafting a Pinterest profile or attracting a large Twitter following. Rewards and incentives can help incentivize employees to engage more on social media and collaborate through different networks. With enhanced engagement, companies can create a happier workforce.

-by HiFives

Are Mobile Apps for Rewards and Recognition really important?

Is having a mobile app for rewards and recognition system really important?  When you and your manager walk out of a meeting you can recognize his work personally right there but let us see an instance if the person you want to recognize is in another country or city. It is possible that the employee has very little or no access to a computer. Mobile is important as a tool for the success of a project that has a large number of offline employees. Maintaining the best practice of timely recognition, mobile apps allow for employers to recognize others anywhere on the globe just with their smart phones.

Are mobile apps needed for reward or recognition or is it one of those solutions looking for a problem?  Is it just a marketing gimmick or an actually useful tool to reward and recognize people that will really be used by people constructively and they need it?  It has been projected by several surveys that mobile access to the Internet will surpass the desktop web in a few years and 3 billion or more of the adult population in the world will be enabled to conduct business via mobile. There is data to suggest that Mobile phones will leave behind PCs as the most popular web access devices in the world.

-by HiFives

Do Employee Rewards and Recognition make sense?

Modern employee rewards and recognition programs are increasingly being reinvented to encompass not just traditional practices of compensating and thanking employees and are also venturing into newer pastures such as emotional and physical well-being of people defined as “Total Rewards”. The key purpose of reward and recognition is to convey to the employee that their contributions to the organization are valuable.  This is important for the employee as it makes them feel respected, validated and vital. Experience, as well as studies shows that there is a significant correlation between reward and recognition with satisfaction and motivation.

Among the most critical characteristics of any successful rewards and recognition program is equity and fairness with a sense of evenhandedness. Fairness has to be within the organization as well as in comparison to analogous companies on the marketplace. Rewards and recognition have to include a number of aspects. To begin with assured compensation and salary with annual or special increment is a must but performance based incentives, which can be in cash or kind, motivate employees and they enjoy their work. Reward and recognition practices followed in an organization have shown to motivate employees to offer their individual best as well as endorse the sentiment of working together as one team.

-by HiFives

Integrate employee rewards into the Total Reward framework

Total rewards framework includes several employment factors like benefits, compensation and work life facilities that can be strategically applied together to get the desired employee attraction, retention and motivation. Most employers around the globe see great value in integrating employee rewards into the total rewards framework. The basic of total rewards is about retaining employees and their financial performance. Top talent internationally cites total rewards as vital to their job and enthusiasm levels. It is also seen that enhancing employee perception of total rewards impacts effort, motivation and Intent to Stay. It is crucial to establish a compelling total rewards framework and it is not enough to just communicate without a strategy.

Organizational success is driven through better talent attraction, engagement and retention but typically companies are not as overt as they can be when defining the reward framework. Having a balanced total rewards framework is especially vital in the present economic environment where companies have to measure people cost, behaviors and productivity cautiously to make sure that their objectives are stated clearly and aligned with business. Intent and design, no matter how considerate, will not be successful if they are not set on a strong foundation.  An integrated total rewards framework is advantageous for the employers as well as the employees.

-by HiFives

Finding it tough to decide on employee rewards tools?

It is not unfair to say that if rewards or recognition offered to employees were altered, it would bring corresponding transformation in productivity, work motivation and satisfaction. Rewards is a wide concept that is increasingly being re-defined to encompass not just the traditional methods of compensating employees, but also newer aspects such as emotional and physical well-being. A broad range of characteristics and employee rewards tools have to be considered before implementing a total rewards plan. This would include defining metrics and understanding objectives to design a plan that measures and tracks accomplishments against defined goals and expectations.

Most organizations tend to depend on external benchmarking to ensure the competiveness of rewards offered by them but some work out their own employee rewards tools to get relevant data and stay competitive. This can be done through developing an array of reward and recognition programs, cheering peer recognition, offering performance awards at individual as well as team levels, applauding employees for showcasing the values of the company values and so on. It has been seen that recognition has a direct impact on behavior reinforced in an organization, which makes it very essential for businesses to ponder over the areas for which they wish to reward their employees.

-by HiFives

Are you losing out with no employee rewards program?

It is of utmost importance that organizations have an employee rewards program and they define the metrics for the same to achieve desirable outcomes.  Rewards program not only acknowledge employees for their loyalty but also help in developing a climate of appreciation. It can recognize good work and extra effort more often and in unique ways. To ensure effective rewards and recognition systems for an organization, they need to be effective while reinforcing the values and goals of the company. Employee rewards programs encourage employees to act in line with the objectives all along emphasizing on the importance of achieving the goals.

Rewards programs in many ways, aids the organization to fulfill employees need for recognition, appreciation and positive support. Reward aims at offering competitive packages, sharing the success and efforts of people fairly and generously. These programs often ensure that employees get to know how their performance is related to the success of the organization and their compensation. This benchmarking should not be limited just to the salary but also to rewards and other kinds of benefits. When you design an employee rewards program, it helps carry out the need of the worker to be rewarded for their competence effort and contribution to the organization.

-by HiFives

Influence of Rewards on Employee Satisfaction

Motivated and satisfied employees are a very valuable asset to any organization. Rewards can create the much needed impact, especially for companies facing issues related to employee job performance and satisfaction. Studies show that rewards influence an enhanced level of job satisfaction. There are numerous changes in the business world today and every organization has to depend greatly on positive employee performance which is directly related to satisfaction. Reward programs have their merits in developing a highly satisfied workforce, making rewards a key tool to ensure employee satisfaction.

When it comes to rewards, different employee has different perceptions, some consider cash to be sufficient, while others look for luxury enticements such as holidays, cars or apartments and there are also a few who look for non-material incentives. It is one of the most difficult jobs for any company to design an effective reward system for their employees. It is not easy to achieve employee satisfaction with rewards. Today managers have to understand the expectations, desires and requirements of its employees better. The bottom line is that company’s reward system should be such that it attracts new workforce into the firm as well as motivates existing employees to perform better.

 

-by HiFives

Design your Employee Rewards Program

Numerous surveys from around the world have consistently shown that most employees want more than just paycheck for their jobs. They want to feel safe and appreciated for the work to do. A good employee rewards and recognition program must provide employees with several other feel good aspects. An employee must feel that he or she is getting a reasonable return for their efforts and have to be motivated to continue to augment their performance

Here are some guidelines for employee to help them design a reward and recognition program for their department. All employees must be considered eligible for the program.

Spell out the criteria for employee rewards.

  • Reward all who meet with your set criteria.
  • Personalize employee rewards.
  • Cultivate an atmosphere of self-esteem.
  • Promote built-in rewards.
  • Design rewards for the complete team.
  • Encourage a “thank you” culture.
  • Keep in mind that you will get what you give or reward.
  • Employee incentives can be given in other forms than cash. For example, top performers can be given less supervised higher responsibility, which is a reward in itself. Some other rewards be like more time off, flexible schedules or choice in taking up assignments.

It is significant that employees realize that they are being rewarded for working hard as well as getting results.

-by HiFives

Non-Monetary Employee rewards – anyone?

Cash or non cash rewards…this has generated a lot of debate for the incentive program practitioners and their patrons. What is the value of tangible, non-monetary incentives as compared to hard cash? The immediate answer could be cash, but there are many who back the concept of non-monetary employee rewards. There are sort after non- cash rewards that directly influence the perceived value of the same and enhance the worth of earning the reward as they are earned and not bought.

There is an interesting dynamic when non-cash reward is received in the form of lifestyle item, an activity or travel, which is deemed as pleasurable experience. Among the most significant rewards received by an employee is the acknowledgement for a job well done, from supervisor, peers, managers or even friend and family. Social reinforcement is achieved when others know about the appreciation. In fact non-cash rewards can sometimes be more effective as compared to cash rewards in this situation, as the receiver does not have to promote that he has earned it, making it truly special. The reward becomes extraordinary, if the individual is less likely to buy it. It augments the value of earning the reward and employees puts in additional effort to receive it. Non-cash reward can be services and items that individuals are not likely to buy, attracting the attention of their colleagues and thus amplifying the trophy value of the employee reward.

-by HiFives