Archive for the ‘Employee Recognition’ category

A Fool-Proof Formula to Secure your Superstar Employees

September 23, 2013

                                                            by Aoife Gorey

We coach our clients, partners, and colleagues around the world on the importance of hiring right the first time.  Hiring the right person for the right job is inevitably the best way to reduce employee turnover.  Using employee assessments, talent management systems, and conducting background checks and interviews all come into play.  But, once you have secured your ideal candidate, how do you keep them?

Many factors affect employee satisfaction.  We can’t all offer unique and unusual employee perks like Google and Facebook, but we can still take a forward approach to keeping our people happy and attracting superstar candidates.

1. Evaluate your leadership
Measure employee turnover by manager; this can pinpoint a real problem.  Poor managers may cancel out all the positive effects that having an outstanding team may create.  If you identify problems with managers, help them.  Use leadership development tools to discover their individual leadership style and the dynamic of their team as a whole.  Effective management is the key to employee retention.

2. Recognize great performance
We are all motivated differently, but everyone loves to receive a compliment and credit for a job well done.  Give your managers the responsibility of creating awards for excellent performance.  Examples of employee recognition include: thank you notes, employee of the month awards, newsletter recognition, etc.  Here at Profiles, we award our employee of the month a cash bonus, extra casual clothes days, and their name on a banner facing the main street of our home office!  Thousands of people that pass by every day see their name on our mini- billboard!  Make sure you also recognize employees on a weekly basis, those that are working extremely hard but not necessarily employee-of-the-month level.  On an employee level, I always try to praise my coworkers and inform my boss when they do a great job on a project.  To me, the opinions of my colleagues are just as important!

3. Create an atmosphere of continuous self-improvement
For many people, each job acts as a stepping stone and learning experience to get to the next level of their career and achieve their personal goals.  Job candidates and employees want the opportunity to develop and to continually polish their skills, abilities, and experience.  Invest heavily in training and employee development, and encourage employees to take advantage of the programs offered.  Prove to your employees that there is no reason to leave when they can receive training from within the organization.  Here at Profiles, when I attended a new employee onboarding session, we were introduced to all the company executives.  Our president, Al Rainaldi told me, “Always be looking for ways to improve yourself so that you can be more effective on the job.  If there is a training program that you think would benefit you and your colleagues, bring it to the attention of your direct manager.”

4. Match people to jobs
Don’t hire just to fill a position, hire someone that is suited to be successful in the job you need filled!  Ensure people are matched to their jobs in terms of their abilities, interests, and personalities.  When people are placed in positions where job demand and abilities match, where job stimulation and interest match, and where cultural demands and personalities match, turnover decreases and productivity increases.

Organizations can use employee assessments to determine the requirement of each position.  Attracting and retaining the highest quality people takes time, money, and effort.  Applying the steps above can help you secure your own team of superstar employees.

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The Secret to Employee Satisfaction: Say Thank You!

June 20, 2012

Guest Post by Sarah Watson on Wed, Jun 20, 2012

They say it’s the thought that counts, but employees of Torbay Hospital in England might disagree. The hospital was in the news recently after many of their employees were insulted when they were rewarded for a job well done with, wait for it, a Kit Kat.

Vouchers for Kit Kat bars were placed inside employees’ pay slips as a thank you after the hospital won a prestigious award. The hospital’s intent was almost certainly a good one; however, it backfired and left workers feeling undervalued and unappreciated. So what did the hospital do wrong and how do you thank employees the right way?

A new study on employee recognition has produced some astounding results. The study found that organizations that give regular thanks to their employees far out perform those that don’t. You probably have an employee recognition program in your organization, after all, there’s a $46 billion market for it, but is it effective? Bersin & Associates reported that 87 percent of these recognition programs are based on tenure, not performance. Most companies reward people for just hanging around, and these programs have virtually no impact on organizational performance. It’s a safe bet that most employees aren’t going to stay an extra year in their job to earn a plaque (or work harder for a candy bar). The study goes on to say that only 58 percent of employees are even aware these programs exist.

On the other hand, companies that scored in the top 20 percent for building a “recognition-rich culture” had 21 percent lower voluntary turnover rates! A modern recognition program can have a tremendous impact on employees and overall business performance. So what does a modern recognition program look like? Josh Bersin, who runs Bersin & Associates, recently published an article on Forbes outlining the best practices for employee recognition.

  • Recognition based on specific results and behaviors – Decide what criteria for what performance constitutes a reward, not just      “Employee of the Month.” Give an award to an employee when he or she delivers outstanding customer service or goes out of their way to finish a project.
  • Peer to peer recognition – Not all recognition has to come from managers. Modern programs are “social” meaning they let anyone in the      company recognize anyone. Thank you’s are public and prominently displayed so everyone can see them. Companies like Achievers and Globoforce make social recognition easy. Some programs give employees budgets for ‘dollars’ or ‘points’ to award other employees. They can do it online in seconds and make the recognition visible to everyone! The trick is to make it simple and easy.
  • Share stories of success – When an employee does something noteworthy, tell people about it! Share their story in your company blog or newsletter so other employees have the opportunity to hear about it and learn from the story.
  • Incorporate your company’s values and goals in recognition – When establishing the criteria that constitutes recognition; make sure      you focus on your company’s values. Bersin & Associates suggests when you give someone a “thank you” award, it should be tied to your company’s strategy (customer service, innovation, teamwork or revenue based.)

Many managers make the mistake of focusing only on the bottom line, and sometimes overlook employee recognition. They don’t realize that the number one reason people leave is because of lack of recognition at work, and if they’re losing their best employees, that hurts their bottom line. You don’t have to break the bank to thank employees either (but it should probably be more than a Kit Kat.) Check out the free whitepaper below for tips on motivating without money. Taking the time to let your employees know you appreciate them makes them feel valued and is good for the overall success of your organization.