Recognition Manifesto. How Strategic Recognition Drives Every Facet of Your Integrated Talent Strategy

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1 Recognition Manifesto How Strategic Recognition Drives Every Facet of Your Integrated Talent Strategy

2 The Mosaic of Human Capital This quick guide will show how effective recognition supports each of these strategies and many more! Where HR strategies stand alone, they are vulnerable to failure. To succeed, they must form a mosaic, where each human capital strategy works to support the others and lead to the success of your business. If you deal with each strategy in a vacuum, you will miss a huge opportunity for synergy, and you may miss seeing how they can support and strengthen one another. Because when you integrate these strategies together, it quickly becomes clear how one strategy employee recognition and reward can support and drive success in every other program you have. How? Read on

3 Great Recognition Gets Results There are a hundred different types of recognition out there but an employee of the month program or a drawer full of cash cards are not strategic enough or scalable enough get you the results we re talking about. So before we get any further, lets define what we mean by effective, strategic recognition and reward. TALENT SYSTEMS PERFORMANCE MANAGEMENT SUCCESSION PLANNING CHANGE MANAGEMENT EMPLOYER BRAND RECOGNITION & REWARDS RETENTION TOTAL REWARDS ENGAGEMENT LEARNING & DEVELOPMENT ONBOARDING Great recognition is inspired based on real-time observations of desired behavior. Great recognition is social bringing together the community around shared goals and values. Great recognition is inclusive with a broad winners circle that touches the majority of workers. Great recognition is accessible on a global SaaS platform available online and on smartphones. Great recognition is individual with choices that celebrate diversity and increase meaning. Great recognition is insightful gathering data for measuring and managing talent and culture.

4 Building on the Foundation of Thanks A great strategic and social recognition program has three key qualities that can propel any HR strategy forward: 1. It increases emotional engagement, and affective organizational commitment. 2. It harnesses the power of positive feedback to encourage desired behaviors. 3. It offers deep cultural and talent insights through big data. Together, these three qualities can drive the success of an entire integrated talent strategy. BIG DATA INSIGHT POSITIVE FEEDBACK EMOTIONAL ENGAGEMENT

5 How Recognition Drives Change When strategic recognition is done right, it can form a versatile engine for any HR goal. Here s how it works: INCREASES EMOTIONAL ENGAGEMENT HARNESSES THE POWER OF POSITIVE FEEDBACK WHY IT S SO EFFECTIVE Feeling appreciated increases job satisfaction and motivation Recognition from co-workers builds emotional ties among employees The opportunity to give and receive enhances affective organizational commitment Positive feedback is a powerful force for effecting behavioral change Strategic recognition based on core company values makes those values practicable every day When co-workers can see what behavior is rewarded they are inspired to emulate it HOW GLOBOFORCE DOES IT Inspired, authentic recognition Broad winner s circle Peer-to-peer empowerment Anytime, anywhere mobile access Social recognition Values-based award reasons Timely, positive feedback OFFERS DEEP CULTURAL AND TALENT INSIGHTS Measuring recognition provides a quantitative map to employee and team behavior Aligning rewards with core values offers a real-time visualization of company culture Tied to core values and goals Executive Insight Talent Maps Recognition Intelligence

6 ENGAGEMENT Recognition is well documented as a direct and profound driver of engagement increasing affective commitment to your organization and driving employee happiness and satisfaction. According to research by Bersin & Associates, in organizations where recognition occurs, employee engagement, productivity and customer service are about 14 percent better than in those where recognition does not occur. 1 And according to a recent Aberdeen report, the number one way Best-in-Class organizations improve employee engagement, [ ] is through employee recognition programs. 2 Use recognition as a primary tool for your engagement strategy. Recognition drives engagement.

7 Retention One of the most measurable effects that companies see from recognition is a jump in their retention numbers and the huge cost savings that accompanies it. Because recognition increases job satisfaction and commitment to the organization, it also drives loyalty. According to Bersin & Associates: Companies with recognition programs highly effective at improving employee engagement have 31 percent lower voluntary turnover than their peers. 3 A joint SHRM/ Globoforce report also found that companies with strategic recognition reported a mean employee turnover rate that is 23.4% lower than retention at companies without any recognition program. 4 If you have a strategy around retention, recognition will be a critical tool for your success. Recognition increases retention.

8 Talent Systems Recognition data provides a startlingly clear snapshot of your culture and talent through the eyes of your employees. No talent strategy can be complete without this kind of ground-level insight into how your workers are interacting with your organization including which values they most embody, and where their greatest strengths are. According to a recent Gartner paper, the rich talent profile data provided by social recognition helps managers better understand the contributions of their team members while providing a more complete view of the talent of the organization. 5 Use these powerful insights to make your talent systems smarter and drive forward your talent strategy. Recognition enriches talent intelligence.

9 Employer Brand Not only is employer brand critical to attracting the right candidates to your company it is also important for supporting the emotional contract with existing employees that keeps them happily employed and contributing. Recognition helps companies to differentiate and enhance an employer brand by showing the company commitment to employee happiness and well-being and to building a positive culture of appreciation. Whether your strategy is around enhancing an employer brand, creating a best place to work or assisting recruitment efforts recognition lays the foundation for a strong and attractive company culture. Recognition helps create and promote a great place to work.

10 OnboardinG Once employees are through the door, recognition tied to company values is a fantastic orientation tool. It is a sure-fire way to help employees ramp up quickly internalizing your values and jumping feet first into your organizational culture. Values come down off the walls and become a true compass for your culture when you make them actionable through recognition showing new employees what it means to actually live your culture. Nominate employees when they resonate with your values and goals, and then invite them to notice and recognize their peers for doing great work. This helps them to understand how their work and their efforts align to company values and contribute to company goals. Recognition quickly orients employees to your culture.

11 Performance Management Traditional performance reviews are hopelessly broken. But recognition transforms a stale, unilateral review into an inclusive experience that is powered by real-time feedback from across the organization. A majority of workers suffer from a distrust or downright dislike of traditional reviews. In fact, more than half of all employees see them as inaccurate, and do not find them motivating. 6 By incorporating crowdsourced recognition data into performance reviews you can bring in a chorus of creditable voices and data that will turn a painful, negative process into a constructive, positive one. Recognition data makes reviews more trustworthy and positive.

12 Succession Planning From line management to the C level, succession planning and the development of high-potential employees is an important tool for enriching organizational culture, motivating employee growth and hanging on to talented flight risks. But it is also easier said than done. You must be able to reliably identify those influential and energetic employees who can be your leaders of tomorrow. Enter recognition data, which lets you visualize your culture and immediately spot your cultural energizers and linchpin employees those critical influencers who hold your culture together and are perfect candidates for development. Recognition data helps you identify top talent.

13 Change Management Did you know that recognition can ease change management in an organization? Positive reinforcement is a powerful driver of behavioral change. And recognition brings even the most resistant or disparate groups together as a single culture focused on a unified set of goals and values. Whether it is merger or acquisition, a painful downsizing, or the implementation of new processes and ideas, social recognition is a way to communicate and reinforce new behaviors and make everyone an important stakeholder in your company culture. Recognition gets everyone pulling in the same direction.

14 Total Rewards A great recognition program powered by company values can serve as the jewel in the crown of a strong total rewards strategy. More than one client of our company has told us that their employees consider recognition to be one of the most important elements of their total rewards package and it is one of the benefits they value most. And according to our Workforce Mood Tracker data, 55 percent of workers say they would leave their current jobs for a company that clearly recognizes employee efforts/contributions. 7 There is something deeply satisfying about total rewards with real-time reward and recognition that keeps employees deeply committed to a company. Make it part of your strategy for total reward success. Recognition makes a total rewards package more robust.

15 Learning & Development Because it is the purest form of positive reinforcement, recognition can encourage any behavior your organization wants to see. It helps reinforce learning from peers, enhance transmission of knowledge, facilitate organizational development and raise employee engagement levels. In fact, when scholars identified top drivers of learning on the job, reward was one of the most important support factors, and one of the top hindering elements was a lack of positive reinforcement! 8 If you re trying to build an organizational commitment to ongoing learning, recognition is a key tool for your success. Recognition is a support factor for creating a culture of learning.

16 And Every Other Strategy SAFETY INCENTIVES HEALTH & WELLNESS SUSTAINABILITY ANNIVERSARIES Of course you will have other human capital strategies than are captured here but even without knowing them, you can be confident that strategic recognition can help you to achieve them. How? Because the combination of engagement, feedback and data that recognition provides lets you create and support any initiative based on any behavior in a quantifiable and measurable way. Social recognition is your secret weapon in achieving goals not only for obvious initiatives like satisfaction or engagement but for any human capital and talent management goal you can dream of. That s how recognition gets results.

17 Learn more about social recognition from Globoforce. Contact us for a product tour Visit Our Site: globoforce.com» Us: info@globoforce.com» Read our Blog: globoforce.com/gfblog» Call us: GFORCE 2014 Globoforce Limited. All rights reserved.