Employee Engagement Is a Financial Strategy

HR Bartender

We spend a lot of time talking about creating employee engagement. The rationale being that engaged employees are highly productive. In creating employee engagement, we need to think about employee satisfaction. I don’t see how a dissatisfied employee becomes engaged. is a barrier to engagement. On the other hand, employees who are satisfied with their organization, team, manager, work, etc.

Compensation Cafe: Why Friends at Work Matter

RecognizeThis!

It’s a driving factor in employee productivity, retention and wellness. I couldn’t say everything I wanted to about the importance of friends at work in my post on this blog last week , so I continued the theme today on the Compensation Cafe blog. This latest post looks at several recent surveys (from LinkedIn, HRZone in the UK, and Globoforce) showing how friendships and deep relationships at work that drive key business factors – productivity, retention and wellness.

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Major Studies Detail Correlation Between Employee Engagement and Retention

Hoops

. Recent Studies Detail Correlation Between Employee Engagement and Retention. The most serious challenge facing Human Resources is not benefits, compensation, or performance management. For two years running, the top two HR challenges have been employee retention and employee engagement. Engagement and retention are both the end results of consistent and positive employee experiences. SHRM/GloboForce Employee Experience Survey.

With Globoforce on Social Recognition

Strategic HCM

I’ve just been attending an event with Globoforce and the Conference Board on social recognition. I’ve been a long supporter of Globoforce’s work on recognition, eg this webinar we did together, and also my support for their book – see this endorsement (which I still support) printed at the start of this: “Recognition is a hugely underused and badly misused HR and management tools. Globoforce’s Mood Tracker suggests that ‘only’ 38% of (N American?)

Driving Employee Engagement Requires Baseline of Competitive, Fair Pay

Compensation Cafe

In the last week, a couple of research reviews have crossed my desk, both summarizing decades of research, surveys and analysis in the complex and many-layered topics of employee recognition, engagement and retention. Key findings of the report include (quoting): Employees who receive recognition are more likely to be engaged at work. The more channels used for recognition, the higher the employee engagement level. Compensation Philosophy Recognition

Is Employee Engagement Moot in Today's High Stress Environments?

Compensation Cafe

It’s no wonder that only 13 percent of employees worldwide feel engaged in their occupation. And Gallup's latest employee engagement numbers remain stagnant: Engaged employees are involved in, enthusiastic about and committed to their work. Gallup's extensive research shows that employee engagement is strongly connected to business outcomes essential to an organization's financial success, such as productivity, profitability and customer engagement.

Employee Engagement All about Connections and Good Work

Compensation Cafe

Yesterday SHRM released its annual “Employee Job Satisfaction and Engagement Report.” It’s interesting in how it segregates true “satisfiers” from the factors and conditions that help employees more deeply engage. For example, SHRM makes the distinction this way: “Employee engagement may or may not be aligned with employee job satisfaction, as engagement is tied to employees’ connection and commitment to their work and their particular organization.”.

HR TechStack – Employee Engagement Software

WhoKnows

Employee Engagement Software Definition. Employee engagement software helps organizations solicit and track feedback from their employees, recognize employee achievements, and promote positive activity. Employee engagement tools are used to draw actionable insights from employee feedback. Promote employee recognition through internal communication channels. The HR TechStack for Employee Engagement Software.

How to Find Budget Dollars for Employee Recognition

HR Bartender

I thought about this as I was planning my agenda for this year’s WorkHuman Conference , pioneered by Globoforce. I saw that one of the sessions this year was titled “Show Me the Money: 5 Unexpected Places to Find Recognition Budget” and reached out to the speaker Rob Schmitter , solutions architect at Globoforce, to see if he would give us a sneak peek. It stands to reason that more engaged employees deliver better products and are more likely to ‘Wow’ your customers.

Cafe Classic: When You Can’t Differentiate Based on Compensation, What Do You Do to Stand Out?

Compensation Cafe

A highly unscientific poll method of asking colleagues and friends about their experience with or recommendations for the annual compensation increase process (by whatever name you want to call it – merit increase, raise, cost-of-living increase) shows deep dissatisfaction with the status quo. It’s clear even companies with the best of intentions for compensation cannot compete for top talent based on pay alone. Anyone can copy your compensation plan.

Putting the Human Back in HR….and Our Workplaces #WorkHuman

Women of HR

Yes there are policies and guidelines that need to be in place, at least in most workplaces, mostly to ensure that we are legally compliant, that our workplaces are safe and harassment free, and that there are standards in place for fair compensation. Even when a decision had to be made that wasn’t necessarily in the favor of the employee, the question that needed to be asked was “have we ensured that we’ve given them every opportunity to fix the issue first?”

Organizations Need to Address the Core Issues with Performance Reviews

HR Bartender

During last year’s WorkHuman Conference, pioneered by Globoforce , I heard several speakers talk about the annual performance review. I’m confident that the performance review wasn’t started in a conference room somewhere under the guise of “We need to implement a process that managers will loathe and employees have no confidence in.” If that’s true, then there’s a certain amount of competition involved, even if the organization doesn’t do employee ranking.

Top 6 Megatrends Changing the Face of HR and Business

WorkHuman

How are leading companies shifting their focus when it comes to HR and the overall employee experience ? No matter where your organization or HR department is today, it’s helpful to see where the industry is headed so you can better anticipate the needs of your current and future employees. Based on insights gathered from Globoforce’s WorkHuman Executive Forums, these megatrends illustrate a shift to more human-centric approaches to work. Team Engagement.

Human Resources Today – Resources for the People Side of Business

The People Equation

Human Resources Today curates content from many sources on the web regarding the people side of HR: employee engagement, leadership, corporate culture, employee retention and workplace communication. There’s also a smattering of content offered by HR vendors such as Halogen Software and Globoforce. Disclosure: I receive no compensation for writing about or participating in Human Resources Today. A new site just launched called Human Resources Today.

6 Hot Digital Workplace Trends from Gartner

WorkHuman

Workplace ethnography : Another emerging trend that complements team engagement is workplace ethnography. Mike Gotta and Carol Rozwell define it as “a research approach for understanding cultural dynamics between employees, group relationships, and the ways in which work is done. It is pursued to improve employee engagement, teamwork, work models, and technology use. It’s about recognizing employees in the moment , rather than once a year.

Trends 131

Lessons from “Best Companies to Work For”

RecognizeThis!

Yesterday on Compensation Café, I shared three commonalities experienced by companies that appear on Fortune’s “Best Companies to Work For” list: Better stock performance. Higher retention of top employees. Increased employee energy and engagement. Read the full post “3 Reasons Why You Should Treat Employees Better” for more on each of these, but really – isn’t it obvious? by Derek Irvine. Recognize This!

Solving Pay Differentials between Executives and Staff; Men and Women

Compensation Cafe

UK-based HR Strategist Jon Ingham is an example (from his Strategic HCM blog) : “The issue is the wide variety in expectations of male and female employees. If women don’t think they’re going to receive a pay rise, and particularly if they believe that their male colleagues will, then this is going to reduce their engagement, discretionary behaviours, and reduce the impact of Britain’s pay rise on business and national productivity.”. d like to hear from the compensation experts.

4 Keys to Leadership According to Jack Welch

Compensation Cafe

To be a good leader for your employees, one needs to be rich with your praise, cheer them on, love to watch them grow and be excited about their success. And that’s the major challenge, and risk — keeping the “middle 70” engaged and motivated… Everyone in the middle 70 needs to be motivated, and made to feel as if they truly belong.”. Above-and-beyond bonuses available to any level of employee. First and foremost is employee engagement.

Cafe Classic: Influencer Networks - A Hidden Key to Recognition Program Success

Compensation Cafe

Editor's Note: We sometimes get fuzzy the difference between recognition and compensation as implements in our rewards toolbox. I know readers of Compensation Cafe know this, but let me state the obvious – compensation and recognition are very different.

Say Goodbye to the Annual Bonus

WorkHuman

The chatter is focused on how to promote a coaching culture throughout the year to continuously improve employee performance. Few people, however, are offering a real solution to the compensation piece of the annual review. Traditionally, employees had their review with their manager and received a rating based on their performance over the past year. The video below features a snippet of Globoforce CEO Eric Mosley’s keynote from WorkHuman 2017.

Promotions, Bonuses, Raises, Recognition - When They Work (and When They Don't)

Compensation Cafe

You can’t give all employees promotions, bonuses, or raises. In perhaps a worst-case scenario, promotions are little more than title changes in which the employee’s job duties change little if at all with no pay increase. It’s not a positive experience for the employee. Promotions are valuable, but we must ensure promotions are also real in that they advance a person’s career with the appropriate compensation increase. Once it’s exhausted, employees lose interest.”.

A Question of Measurement and Value Creation

Compensation Cafe

Developing the right formulas for executive compensation is a tricky balancing act, ensuring that one’s focus is appropriately distributed across short-term performance and longer-term value creation. One trend is to follow a Balanced Scorecard (BSC) philosophy, supplementing traditional financial metrics (such as accounting earnings or stock price) with nonfinancial metrics (such as employee engagement and customer satisfaction). Compensation Philosophy Recognition

6 New Stats for Employee Recognition Skeptics

WorkHuman

I feel lucky to work for a company that understands and invests in employee recognition and rewards. But we’ve all worked for companies or leaders who don’t buy into the concept of employee recognition. New research from Globoforce’s WorkHuman Research Institute can help you silence the skeptics. Here are six new stats from that finding: Meaningful work is more important than compensation. Compensation was third on the list. 63%), be highly engaged (89% v.

Insights from the CHRO Panel at #WorkHuman 2017

Lighthouse

This week I’m honored to be at the WorkHuman conference put on by Globoforce. Vicki Williams, SVP of Compensation, Benefits, and HRIS at NBCUniversal. Employee-Focused Programs. Vicki Williams talked about NBCUniversal’s approach to crafting a positive employee experience. ” The firm has put together a new social recognition program that has allowed employees to give peer to peer, 360-degree feedback throughout the organization.

CHRO 62

The Business Case for Employee Recognition and Rewards

Compensation Cafe

Why do we compensate employees? But compensation professionals (and readers of this blog) know the pay cheque is but one part of a very complex agreement between employer and employee to maximize a mutually beneficial relationship. Latest in these reports is Mercer’s 2015/2016 US Compensation Planning Survey, which is well summarized in this SHRM report. Career-change opportunities within the company to keep employees on board while diversifying capabilities.

Cafe Classic: Why Employees Actually Leave (Hint: It's Not Money)

Compensation Cafe

Editor's Note: Why do employees leave? How much alignment is there between why managers think employees leave and their actual reasons for doing so? Leigh has been researching employee engagement and retention best practices for the last two decades and shared with the webinar participants his findings from deep analysis of employees included in the Saratoga Institute study (which included 20,700 surveys from employees in 17 industries, and 4,500 verbatim comments).

Cafe Classic: Are Your Employees Volunteers or Robots?

Compensation Cafe

Editor's Note: Derek Irvine with some Classic advice on employee engagement and how to inspire - rather than "wring out" - the commitment you need. The fallacy in this statement lies in the fact that employees are human and not machines. Yes, appropriate and fair compensation is critical to establishing a contract with employees. Why should you care if employees are highly engaged? Recognition Total Rewards employee retention

Cafe Classic: Employee Retention and How to Combat Wandering Eyes

Compensation Cafe

Editor's Note: Derek Irvine with research, insights and an unhappy metaphor (picture two of ten employees actively working to sink your organizational ship?!) to call our attention to employee engagement and retention. Indeed, they feel like they are constantly trading employees among their competitors, usually over a few dollars extra in pay. Engagement matters. Employee disengagement is not just a statistic in your company.

Connecting People: How Cisco Used Social Recognition to Transform Its Culture

WorkHuman

While at HR Tech in October, Claire Gray, senior director of global compensation at Cisco Systems (a Globoforce customer), presented a session titled, “How Cisco Fuels a Culture of Innovation for Employees.”. Claire opened her talk by introducing Cisco’s People Deal, which is an ambition for the kind of experience Cisco hopes to create for its employees. It’s our aspiration of how we want to be and how we want our employees to feel.

Cafe Classic: Employee Retention and How to Combat Wandering Eyes

Compensation Cafe

Editor's Note: In a tight labor market, are you giving your employees reason to stay? Derek Irvine on why engagement matters. Indeed, they feel like they are constantly trading employees among their competitors, usually over a few dollars extra in pay. Yet, when an employee’s decision to stay or go comes down to a small difference in the amount of money in their paycheck, you know you’re in trouble as an organization. Engagement matters.

"Thanks" Is the Killer App for Feedback

Compensation Cafe

In my last post , I shared research from Bersin by Deloitte: “Becoming irresistible: A new model for employee engagement.” Earlier this week Josh Bersin, author of the original report, published a follow-up article in Forbes: “Employee Feedback Is the Killer App: A New Market Emerges.”. The Employee Engagement Challenge. The highly engaged organizations are all shapes and sizes: all industries, all sizes, and all ages.

Are Employee Servcie Awards really necessary today?

OmegaHR Solutions

What do you do when you don’t have employees staying long enough for service awards? I was reading an article that gave examples of tax exempt benefits that your employees really want. He further referenced a study by SHRM and Globoforce that said “ 90 percent of HR professionals surveyed said recognition programs positively impacted engagement.” By far the top objective for YOS programs is to appreciate employees (88 percent.)

Why Wait? Timely Rewards Deliver Increased Intrinsic Motivation

Compensation Cafe

As we learned from Teresa Amabile’s “ Progress Principle ” work several years ago: “We found that the most important indicators on employee engagement [were] not things that most managers think about. As the research shows, doing so increases a person’s intrinsic motivation (enjoyment of their work) and their overall engagement in the work itself. How are you ensuring a more frequent and timely (and intrinsically meaningful) reward experience for your employees?

What’s Ahead for HR in 2017?

RecognizeThis!

Trends in HR for the year ahead will emphasize empowerment, the employee experience, and ultimately a more human workplace. One of the key findings from that report is a much greater emphasis on empowerment and the whole work environment, increasing the robustness of how we think about employee engagement and cultural fit. We collectively stand at a pivotal moment for HR to integrate technology and humanity in creating a better workplace and a better employee experience.

Influencer Networks * A Hidden Key to Recognition Program Success

Compensation Cafe

I know readers of Compensation Cafe know this, but let me state the obvious – compensation and recognition are very different. But one major difference between the two not often discussed is the public nature of recognition activities vs. compensation changes. That’s the key element that drives culture change, increased employee engagement, and improved productivity.

Elevating the Workforce Experience: The Personal Lens

Bersin

In the place where we spend the majority of our adult lives, it behooves organizations to understand the true nature (and costs) of how employees interact and connect with one another. At a leading data company, leaders elevate human connections through the organization’s employee wellness program. To that point, all organizations should seek employee feedback to empower them to shape their own experience. Involve employees in decision-making.

Trends in Employee Recognition Show Growing Importance in Results-Driven, Culture-Oriented Approach

Compensation Cafe

WorldatWork’s latest “Trends in Employee Recognition Report” is out. 3) Results-driven programs gain in importance in organizations overall, with an emphasis on increasing employee engagement, motivation, satisfaction and retention. Through further analysis it was found that organizations with a strategic and/or embedded culture of recognition indicate that their employees have higher engagement, motivation and satisfaction.

Avoid Change Fatigue with a Human Workplace

Compensation Cafe

That places HR leaders squarely in the space of equipping employees to avoid change fatigue. It falls to them to create a more human-oriented culture and a positive employee experience that can act as a buffer, and in some instances, an energizer of continuous change. CEB defines change fatigue as the “frequency and volume of organizational change initiatives that increase employee fatigue and diminish their productivity.”

Millennials on the Market: Recognition & Retention in an Age of “What’s in It for Me?”

Compensation Cafe

In my work consulting on employee recognition and rewards, one question I hear repeatedly centers on the perceived Millennial/Gen Y need for constant feedback and praise, often linked with the trend for Millennials to remain in a position for less than two years. For many employees at this very early stage of their career, they are not saying, “Look at me! Recruiting, training, learning curves – they all add up to 50-200% of base salary to replace an employee.

#WorkHuman Day 2: Organization of the Future

The People Equation

Derek Irvine of Globoforce leads a panel discussion with HR Executives on how to make work more human. Derek Irvine, Globoforce’s VP, Client Strategy & Consulting, moderated a three-person panel of senior leaders in the HR role. The topics were wide-ranging, covering many aspects of the employee experience: recognition, performance management and the role of employee citizenship and charitable works on employee engagement scores.