If you give a highly reward-motivated employee multiple hoops to jump through to earn rewards worth $5,000 to $10,000 more, they will learn how to jump through those hoops.”. Here are some guidelines for coming up with a reasonable financial plan. While every industry is different, a rule of thumb might be to establish minimum-level rewards equal to 5 percent of the normal compensation participants would receive from their employers over the life of your campaign. MORE

Meet Sandra Garcia Global Compensation CoE (Center of Expertise) Lead for Global Strategic Initiatives – Global Recognition and Global Service Awards Programs, General Motors . We want to take a moment to recognize Sandra for her accomplishments in employee engagement. MORE

A recent Gallup research study shows that employees who do not feel properly recognized are twice as likely to say they will quit within the next year. Fortunately, companies can make a big difference by offering employee reward and recognition programs. Employee recruitment. MORE

Schedule, workload, environment, salary, culture, values, management – these all affect employee satisfaction in one capacity or another. Regardless of the cause, voluntary separation and employee satisfaction are invariably linked, making the former a reliable way to measure the latter – when done properly. Look at the numbers, but also critically examine the nature of your company and how it serves its employees. Employee Recognition MORE

Some employers fall victim to scare-tactic polls that report 80 percent of employees are either running for the exits , job hunting, or sabotaging their businesses from within as a result of a negative culture. Employees can’t connect changes in the organization with their feedback or input. MORE

Studies on turnover estimate that when an employee leaves a company, it can cost the organization between 30 to 250 percent of that person’s annual salary due to factors like loss of productivity and other associated replacement costs. MORE

Employee recognition is openly-expressed acknowledgment and appreciation for an employee’s contributions to their organization. Years of service awards; annual, quarterly, and performance bonuses; and verbal and written praise all fall under the umbrella of employee recognition. Modern employee recognition is powerful: it makes work visible, supports company values, and boosts morale. Understanding the value of employee rewards. MORE

Forbes reported in 2012 that there is a $46 billion market for employee recognition programs. With it being such a huge market, clearly employee recognition is important for every organization to consider. Low employee retention rates and increased turnover rates. MORE

Crowdsourced compensation is one of those terms that can send people running in the other direction, or at least just look at you with a smirk. Typically, a relatively small portion of the overall payroll budget is devoted to crowdsourced methods, like social recognition. Recognition MORE