Expert insights. Personalized for you.
This week on Compensation Cafe , I asked the very fundamental question – “How do you get people to work?” ” Of course, the basic answer is through a contract for a specified amount of compensation in return for a specified amount of work. But we all know the employee contract is not that simple. Bonus & Incentives Employee Engagement Employee Motivation employee contract employee recognition hard worker MORE
Well, after three months of conversations, a drug test, two reference calls, and four interviews, Evan finally got the call … they’re offering him the job! . Compensation as a motivator. Does compensation align your employees to your company’s mission and values? MORE
Top 15 Employee Recognition Software Platforms in 2021. Choosing a perfect employee recognition software platform can be a tall order for organizations. Choosing a perfect employee recognition software platform can be a tall order for organizations. Category. MORE
As an HR professional, you must be strategic in order to attract the right talent and retain employees. Offering an appealing and generous compensation package is an important part of your employee value proposition. Contents What is a compensation package? MORE
Hourly workers are among the most unhappy employees in the workforce. Employee engagement is more important than ever before. Another work perk that hourly candidates care about is a performance-based employee bonus. In the same Snagajob survey referenced above, it appears that 27% of candidates thought bonuses are the most important work perk, so much so that 54% of workers surveyed would change jobs if it meant a bonus structure was included in their compensation plan. MORE
It also requires employee appreciation. Over 200,000 global employees were studied by the Boston Consulting Group , and the top reason they reported enjoying their work was, “feeling appreciated”. Financial compensation didn’t appear until number 8! Four out of five employees (81%) say they are motivated to work harder when their boss shows appreciation for their work. How do your employees like to be appreciated? What’s wrong with recognition? MORE
Recognition and rewards vary from organization to organization, and how you appreciate employees depends on your unique company needs. Types of Recognition. Small bonuses, sometimes called spot bonuses because they’re given “on the spot,” are small monetary rewards given frequently by one colleague to another in recognition of a valuable contribution. Writing thank-you notes can not only show appreciation, but is tangible proof of an employee’s contributions. MORE
— Psychologically healthy employees require appropriate compensation and praise for their efforts. At a recent meeting discussing what contributions qualified as eligible for recognition, a meeting participant piped up, “Well, our hourly employees already get overtime pay for going above and beyond, so recognizing them would be like double-dipping.” by Derek Irvine. Recognize This! MORE
There are many factors that come into play when it comes to the satisfaction and engagement of employees. But, contrary to common assumption, there are other ways aside from compensation and benefits that employers can offer to make their workers feel more comfortable, involved and satisfied at work. Realizing the need for recognition. employees feel that they have been recognized or praised for a job well-done over the course of a week. MORE
Meet Sandra Garcia Global Compensation CoE (Center of Expertise) Lead for Global Strategic Initiatives – Global Recognition and Global Service Awards Programs, General Motors . As GM’s Global Compensation Lead for Global Strategic Initiatives, Sandra is highly regarded as a thought leader in global recognition and global service awards programs and responsible for leading the subject from beginning to end. I ended up joining the Global Compensation CoE team at GM. MORE
Many companies think they are already doing a good job of thanking and recognizing their employees. However, a recent HBR study found that employees reported they had not felt recognized for an average of 50 days. Each team member craves and deserves frequent, in-the-moment recognition. MORE
Being in the employee recognition industry, when we ask people what their organization does to recognize their employees, we get all kinds of different answers. That’s one of the great things about employee recognition; it can take many different shapes and many different approaches based on the culture and needs of the organization. And every once in a while, when we ask ‘what do you do for employee recognition?’ MORE
As humans, we need recognition. Recognition is a key aspect of these psychological needs. Whether you’re considering sending simple thank you cards or presenting elaborate awards, the fact remains that recognition makes employees feel valued and inspires them to perform better at work. MORE
Slightly more than half of the respondents worry about retaining key talent, with the next most common concern being developing leaders and succession planning, followed by improving the employee experience, and driving innovation and helping teams work together. MORE
Editor's Note: What can Psychologists teach us about employee recognition. What do employees value most for recognition? What do companies (and managers) actually do well for same? This article also summarizes the report quite well.). A few findings to highlight: 1) A better recognition experience leads to better business outcomes. When these conditions are met: Recognition practices are fair. Employees value the recognition they receive. MORE
How Employee Recognition Supports Learning and Development . Learn how employee recognition can support learning and development in companies through specific techniques. So, where does employee recognition come in play considering learning and development? MORE
At least 70% of RFP’s ask this dreaded question or some derivative of it: “What is the ROI of your recognition programs?”. It’s not because recognition programs don’t have an ROI or don’t add value to an organization—they absolutely do. The kneejerk response to measuring the ROI of a recognition program is, “Did it increase employee engagement?”. How much autonomy employees are given to do their jobs according to their skill sets. MORE
One of the interesting implications, highlighted in a recent interview that Tony Hsieh gave at Wharton’s 2016 People Analytic conference, is for the topic of compensation. In a holocracy, hierarchy is based on “purpose and not people,” which frees employees to move around the company from role to role. What determines compensation when the foundation of the organization is so fluid? Can typical companies leverage “superpowers” of their employees as a basis for compensation? MORE
T his document outlines the ways in which you communicate with your employees and defin es the key metrics to track your communication effectiveness. . Before we start, here is an addition to your internal communications materials: our free employee appreciation email templates. . MORE
The future of employee recognition programs was on display at this year’s WorldatWork Total Rewards Conference held in Dallas. Having attended this year’s conference and helped hundreds of organizations build rewards and recognition programs that work, the Kazoo team has enjoyed plenty of opportunities to speak with technology providers and HR professionals alike about how employee recognition programs are evolving. MORE
While we may assume that all employees would appreciate more money, it’s not the only way to provide recognition and thanks for a job well done. In fact, many employees would prefer to have their efforts recognized in other ways. And from a practical standpoint, there often isn’t enough money in the budget to use extra compensation as the primary form of employee recognition. Allow employees to leave early or come in late in a given week. MORE
Editor's Note: Going global with your recognition and rewards programs? This post is inspired by Jim Brennan’s “Travel, Currency Issues and Compensation” post last week. This is a very broad example of unintended consequences from artificially controlling currency, but there are lessons we can learn about globalization of programs, especially those that impact compensation, recognition and rewards. 1) Recognition and rewards are not compensation. 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. Providing a competitive compensation and benefits package is important, but in today’s market, retention also requires making new hires feel engaged, aligned and connected from Day 1. MORE
Why don’t we make this a time for Pumping UP our employee recognition efforts? I say “Pump It UP” because I’m sure you have been continuing to reward employees all summer. When school is back in session, employee recognition should be back in session as well, and with more frequency. I like to call it the 3 R’s of recognition: Recognize, Results and Reward. The 3 R’s of Employee Recognition appeared first on Decusoft. MORE
Make no mistake, an organisation that fosters an environment that motivates employees and rewards positive behaviours will attract the best talent, maintain a strong, positive culture and retain the rockstars that outperform the competition. In the workplace however, the value of Employee Recognition is often overlooked. In fact, employee recognition is ranked higher than internal promotions and the job itself. Decreased employee empowerment. MORE
Each employee usually receives the same plaque, handshake, and five-minute speech slot. This scenario is a reality for many companies, as only 46 percent of employees rate their leaders and managers above average in providing recognition. Benefits of giving employee awards. MORE
Recognition and Rewards: Everything You Need to Know . Learn everything you need to know about recognition and rewards in order to ensure the best experience for your employees. What Is Recognition and Rewards . Difference Between Recognition and Rewards . MORE
Compensation Cafe has covered Wells Fargo's pay practices since 2009, when the Bank canceled prefunded employee recognition and rewards events in the midst of the Recession, blaming it on federal government restrictions on bank practices following the subprime mortgage crisis. We also covered the headline news on employee incentives that eventually brought their CEO down. Or if you know anything about employee reactions? MORE
As a result, their current employees can suffer more pressure, their product development is obstructed, and they can even lose revenue. The Developer Insights survey found that developers find a compensation estimate the most important part of a recruiter’s email. MORE
– Frequent, timely, and specific recognition and appreciation are integral to achieving personal, team, departmental and organizational goals in 2015. By the hierarchy is not so, well, hierarchical. Earlier this week, I shared on Compensation Cafe Maslow’s own opinion, “We have spoken so far as if this hierarchy were a fixed order but actually it is not nearly as rigid as we may have implied.”. Recognize This! MORE
Before you start reading about effective strategies to smart recruiting, get our Employee Recognition Calendar and make work more fun. . It helps employers build a reputation among potential and existing employees. highlighting a transparent employee value proposition. . MORE
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. Not all employees are suited for internal career changes, even when those opportunities exist. MORE
Employee recognition is critical to keeping the right people on board, achieving business outcomes, and driving employee engagement. Additionally, the HR Council of Canada says that recognized employees are better for an organization because they: Tend to exceed performance expectations. The Manager’s Role in Employee Recognition. A large part of employee recognition falls on managers. Where Compensation Comes In. 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
The success of an organization is determined by the level of its employees’ competence, motivation, and performance. In this case, keeping an excellent employee may seem rather impossible. Creating winning compensation programs . Compensation is not all about higher wages. MORE
For some professionals, the opportunity to work for an organization with a productive culture that aligns with their own values and work style may even outweigh compensation when it comes to deciding on whether to take a particular job. So if you’ve put in the work to build a great company culture, it should be front and center during as you seek to find the best employees. A culture cannot simply be defined in an email and handed down to employees. Recognition. MORE
Achievers - Recruiting
AUGUST 6, 2020
Many companies think they are already doing a good job of thanking and recognizing their employees. However, a recent HBR study found that employees reported they had not felt recognized for an average of 50 days. Each team member craves and deserves frequent, in-the-moment recognition.
Achievers - Recruiting
JULY 16, 2020
Each employee usually receives the same plaque, handshake, and five-minute speech slot. This scenario is a reality for many companies, as only 46 percent of employees rate their leaders and managers above average in providing recognition. Benefits of giving employee awards.
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Semos Cloud
JANUARY 14, 2021
How Employee Recognition Supports Learning and Development . Learn how employee recognition can support learning and development in companies through specific techniques. So, where does employee recognition come in play considering learning and development?
EmployeeConnect
OCTOBER 30, 2016
Make no mistake, an organisation that fosters an environment that motivates employees and rewards positive behaviours will attract the best talent, maintain a strong, positive culture and retain the rockstars that outperform the competition. In the workplace however, the value of Employee Recognition is often overlooked. In fact, employee recognition is ranked higher than internal promotions and the job itself. Decreased employee empowerment.
.png)
Bonusly
NOVEMBER 8, 2019
Recognition and rewards vary from organization to organization, and how you appreciate employees depends on your unique company needs. Types of Recognition. Small bonuses, sometimes called spot bonuses because they’re given “on the spot,” are small monetary rewards given frequently by one colleague to another in recognition of a valuable contribution. Writing thank-you notes can not only show appreciation, but is tangible proof of an employee’s contributions.
Semos Cloud
FEBRUARY 25, 2021
Recognition and Rewards: Everything You Need to Know . Learn everything you need to know about recognition and rewards in order to ensure the best experience for your employees. What Is Recognition and Rewards . Difference Between Recognition and Rewards .
Digital HR Tech
FEBRUARY 10, 2021
As an HR professional, you must be strategic in order to attract the right talent and retain employees. Offering an appealing and generous compensation package is an important part of your employee value proposition. Contents What is a compensation package?
RecognizeThis!
MARCH 26, 2015
— Psychologically healthy employees require appropriate compensation and praise for their efforts. At a recent meeting discussing what contributions qualified as eligible for recognition, a meeting participant piped up, “Well, our hourly employees already get overtime pay for going above and beyond, so recognizing them would be like double-dipping.” by Derek Irvine. Recognize This!
Ceridian
JUNE 30, 2016
There are many factors that come into play when it comes to the satisfaction and engagement of employees. But, contrary to common assumption, there are other ways aside from compensation and benefits that employers can offer to make their workers feel more comfortable, involved and satisfied at work. Realizing the need for recognition. employees feel that they have been recognized or praised for a job well-done over the course of a week.
HRsoft
AUGUST 1, 2016
Employee recognition is critical to keeping the right people on board, achieving business outcomes, and driving employee engagement. Additionally, the HR Council of Canada says that recognized employees are better for an organization because they: Tend to exceed performance expectations. The Manager’s Role in Employee Recognition. A large part of employee recognition falls on managers. Where Compensation Comes In.
.jpg)
Bonusly
MAY 17, 2018
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.
|
HRExecutive
FEBRUARY 17, 2020
Slightly more than half of the respondents worry about retaining key talent, with the next most common concern being developing leaders and succession planning, followed by improving the employee experience, and driving innovation and helping teams work together.
Bonusly
JUNE 19, 2020
As humans, we need recognition. Recognition is a key aspect of these psychological needs. Whether you’re considering sending simple thank you cards or presenting elaborate awards, the fact remains that recognition makes employees feel valued and inspires them to perform better at work.
HR Daily Advisor
MARCH 19, 2015
While we may assume that all employees would appreciate more money, it’s not the only way to provide recognition and thanks for a job well done. In fact, many employees would prefer to have their efforts recognized in other ways. And from a practical standpoint, there often isn’t enough money in the budget to use extra compensation as the primary form of employee recognition. Allow employees to leave early or come in late in a given week.
Achievers - Recruiting
JANUARY 7, 2020
Well, after three months of conversations, a drug test, two reference calls, and four interviews, Evan finally got the call … they’re offering him the job! . Compensation as a motivator. Does compensation align your employees to your company’s mission and values?
Terryberry
JANUARY 2, 2015
Being in the employee recognition industry, when we ask people what their organization does to recognize their employees, we get all kinds of different answers. That’s one of the great things about employee recognition; it can take many different shapes and many different approaches based on the culture and needs of the organization. And every once in a while, when we ask ‘what do you do for employee recognition?’
Semos Cloud
OCTOBER 30, 2020
T his document outlines the ways in which you communicate with your employees and defin es the key metrics to track your communication effectiveness. . Before we start, here is an addition to your internal communications materials: our free employee appreciation email templates. .
Decusoft
SEPTEMBER 24, 2018
Why don’t we make this a time for Pumping UP our employee recognition efforts? I say “Pump It UP” because I’m sure you have been continuing to reward employees all summer. When school is back in session, employee recognition should be back in session as well, and with more frequency. I like to call it the 3 R’s of recognition: Recognize, Results and Reward. The 3 R’s of Employee Recognition appeared first on Decusoft.
Compensation Cafe
NOVEMBER 15, 2019
Editor's Note: What can Psychologists teach us about employee recognition. What do employees value most for recognition? What do companies (and managers) actually do well for same? This article also summarizes the report quite well.). A few findings to highlight: 1) A better recognition experience leads to better business outcomes. When these conditions are met: Recognition practices are fair. Employees value the recognition they receive.
Semos Cloud
MARCH 12, 2021
Top 15 Employee Recognition Software Platforms in 2021. Choosing a perfect employee recognition software platform can be a tall order for organizations. Choosing a perfect employee recognition software platform can be a tall order for organizations. Category.
Workstride
JUNE 1, 2016
At least 70% of RFP’s ask this dreaded question or some derivative of it: “What is the ROI of your recognition programs?”. It’s not because recognition programs don’t have an ROI or don’t add value to an organization—they absolutely do. The kneejerk response to measuring the ROI of a recognition program is, “Did it increase employee engagement?”. How much autonomy employees are given to do their jobs according to their skill sets.
Compensation Cafe
FEBRUARY 6, 2017
Compensation Cafe has covered Wells Fargo's pay practices since 2009, when the Bank canceled prefunded employee recognition and rewards events in the midst of the Recession, blaming it on federal government restrictions on bank practices following the subprime mortgage crisis. We also covered the headline news on employee incentives that eventually brought their CEO down. Or if you know anything about employee reactions?
Compensation Cafe
JULY 8, 2019
Editor's Note: Going global with your recognition and rewards programs? This post is inspired by Jim Brennan’s “Travel, Currency Issues and Compensation” post last week. This is a very broad example of unintended consequences from artificially controlling currency, but there are lessons we can learn about globalization of programs, especially those that impact compensation, recognition and rewards. 1) Recognition and rewards are not compensation.
RecognizeThis!
JANUARY 15, 2015
This week on Compensation Cafe , I asked the very fundamental question – “How do you get people to work?” ” Of course, the basic answer is through a contract for a specified amount of compensation in return for a specified amount of work. But we all know the employee contract is not that simple. Bonus & Incentives Employee Engagement Employee Motivation employee contract employee recognition hard worker
Semos Cloud
SEPTEMBER 8, 2020
Before you start reading about effective strategies to smart recruiting, get our Employee Recognition Calendar and make work more fun. . It helps employers build a reputation among potential and existing employees. highlighting a transparent employee value proposition. .
Achievers
DECEMBER 22, 2016
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. Providing a competitive compensation and benefits package is important, but in today’s market, retention also requires making new hires feel engaged, aligned and connected from Day 1.
Compensation Cafe
NOVEMBER 30, 2015
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. Not all employees are suited for internal career changes, even when those opportunities exist.
Achievers
OCTOBER 24, 2017
Hourly workers are among the most unhappy employees in the workforce. Employee engagement is more important than ever before. Another work perk that hourly candidates care about is a performance-based employee bonus. In the same Snagajob survey referenced above, it appears that 27% of candidates thought bonuses are the most important work perk, so much so that 54% of workers surveyed would change jobs if it meant a bonus structure was included in their compensation plan.
RecognizeThis!
JANUARY 7, 2015
– Frequent, timely, and specific recognition and appreciation are integral to achieving personal, team, departmental and organizational goals in 2015. By the hierarchy is not so, well, hierarchical. Earlier this week, I shared on Compensation Cafe Maslow’s own opinion, “We have spoken so far as if this hierarchy were a fixed order but actually it is not nearly as rigid as we may have implied.”. Recognize This!
Achievers
JANUARY 10, 2017
For some professionals, the opportunity to work for an organization with a productive culture that aligns with their own values and work style may even outweigh compensation when it comes to deciding on whether to take a particular job. So if you’ve put in the work to build a great company culture, it should be front and center during as you seek to find the best employees. A culture cannot simply be defined in an email and handed down to employees. Recognition.
Achievers
AUGUST 8, 2018
Meet Sandra Garcia Global Compensation CoE (Center of Expertise) Lead for Global Strategic Initiatives – Global Recognition and Global Service Awards Programs, General Motors . As GM’s Global Compensation Lead for Global Strategic Initiatives, Sandra is highly regarded as a thought leader in global recognition and global service awards programs and responsible for leading the subject from beginning to end. I ended up joining the Global Compensation CoE team at GM.
Get Hppy
APRIL 30, 2021
The success of an organization is determined by the level of its employees’ competence, motivation, and performance. In this case, keeping an excellent employee may seem rather impossible. Creating winning compensation programs . Compensation is not all about higher wages.
15Five
MARCH 23, 2017
It also requires employee appreciation. Over 200,000 global employees were studied by the Boston Consulting Group , and the top reason they reported enjoying their work was, “feeling appreciated”. Financial compensation didn’t appear until number 8! Four out of five employees (81%) say they are motivated to work harder when their boss shows appreciation for their work. How do your employees like to be appreciated? What’s wrong with recognition?
Get Hppy
NOVEMBER 9, 2020
As a result, their current employees can suffer more pressure, their product development is obstructed, and they can even lose revenue. The Developer Insights survey found that developers find a compensation estimate the most important part of a recruiter’s email.
Compensation Cafe
JULY 12, 2016
One of the interesting implications, highlighted in a recent interview that Tony Hsieh gave at Wharton’s 2016 People Analytic conference, is for the topic of compensation. In a holocracy, hierarchy is based on “purpose and not people,” which frees employees to move around the company from role to role. What determines compensation when the foundation of the organization is so fluid? Can typical companies leverage “superpowers” of their employees as a basis for compensation?
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