Can recognizing the wrong answers drive the right behaviors?

Transcription

1 Showcase Recognition Can recognizing the wrong answers drive the right behaviors? The better the question. The better the answer. The better the question. The better the answer. The better the theworld world works. works.

2 Reward a failure, feed a triumph Many entrepreneurs have learnt more from their failures than their success, motivated by the desire to turn a wrong into a right. What if businesses motivated the same behavior? What if recognizing the time and effort put into creative ideas, regardless of whether they succeed, could drive more innovative behavior? Effectively recognizing employees has a direct impact on their engagement and retention. An engaged workforce consequently drives up business performance. Considering the motivating factors for employees is the first step to ensuring that recognition is aimed toward the right activity. Employees have the basic requirements to do their work, such as their base salary, IT equipment and safe working conditions. These need to be provided equally to those in the same role. On top of these are motivation methods that will directly increase their effectiveness in their roles. As generational desires differ, what once used to be motivation factors have now firmly moved across to be the bare minimum expected by employees. One such factor affecting the consulting industry is flexibility, a topic discussed in our previous SHOWcase, allowing individuals to meet their needs through flexible working practices. If we don t effectively deliver the basic requirements, however hard we try, additional motivating actions will not work. The desired end result is to recognize the right behavior, motivate and engage, thereby improving the efficiency or effectiveness of the employees work. Adding complexity to this is the fact that people s values and desires differ. Managers and leaders need to have different styles and techniques that motivate in different ways. If they are ineffective at applying the right recognition method, it can quickly disengage the employees they are trying to motivate. Rewards don t have to be financial. Progression, the opportunity to learn and develop, and the exposure to diverse clients and opportunities are often regarded as highly as monetary rewards. Identifying motivation methods that meet more needs and satisfy the majority of employees is important. Yet, many underestimate the power of simple positive reinforcement in helping employees feel that their work is meaningful. Ask yourself: How do you adapt to the way you recognize different people in your team on the basis of their individual motivations? How do you encourage new ways of working? When trying something new, it s important to be agile, and recognize mistakes at the right time to save valuable resources. These behaviors can be encouraged by rewarding not just the attempt, but also the ability to receive feedback and develop. I made 5,127 prototypes of my vacuum before I got it right. There were 5,126 failures. But I learned from each one. That s how I came up with a solution. So I don t mind failure. - James Dyson If people feel that their new ideas will contribute to the overall strategy of the business, and have a positive impact, it s more likely for the culture of innovative behavior to last. Recognize small ideas, and big success could emerge. In this Showcase, we ve gathered some of the differing ways EY people and EY services effectively recognize one another, both through informal actions and formal programs. Can recognizing the wrong answers drive the right behaviors? 2

3 How do we boost our individuals Boosting and teams? individuals and teams From a leadership perspective We ve asked some of the newest Advisory partners about how they recognize their teams and teach their managers to recognize different types of accomplishments. The way people respond to recognition will differ for each individual. How do you recognize your people? Caroline Trilles, Partner, PI Advisory, Ernst & Young Advisory There can be different ways and sources to meet an individual s needs and among them I believe in the following 3: Showing trust and confidence in them as an individual, highlighting their importance to the teams and organization, is also fundamental to ensuring they see a future with EY. Providing different perspectives, and designing a future and an action plan with specific activities and challenges will help provide a path that s achievable. Be a coach and mentor to provide that extra level of support. What does recognition mean to you, and what are your motivating factors? Tim Best, Partner, Cybersecurity, Ernst & Young AB Valuing input and contribution is important, regardless of whether the answer is correct or not. As I ve progressed through my career, I ve taken more and more enjoyment from seeing and supporting those around me, and have realized how important teaming really is. I find it empowering and inspiring to recognize others by putting them in the driver s seat and letting them take the lead on projects and client interactions. What should EY, the leaders and staff be doing differently to encourage a culture of recognition? Olubunmi Kuku, Partner, PI Advisory, Ernst & Young It s important that the leadership drives the right message, and showcases transformation, new ideas and people s efforts. To drive a recognition culture within the organization, it s important that we all leverage the tools and platforms available. I had the honor of being a Better Begins With You (BBWY) judge this year, and it was very exciting reading through the stories and feedback these individuals and teams received. It was inspiring, and I encourage everyone to read these themselves and take part in recognizing these colleagues. Driving innovative behavior: how do you recognize an idea that didn t work out but was very good? Steven Lewis, Partner, CFO Advisory & Capital Markets, Financial Services Office (FSO), Ernst & Young Ltd. To help create a safe environment where any idea is welcomed, teams brainstorming sessions are encouraged where we openly challenge one another. Setting an example that I am comfortable with having the wrong idea or failing allows the rest of the team to feel confident in voicing their ideas and not being afraid of making mistakes. There should be no negative consequences for suggesting a new idea or for doing something differently, and we should each lead by example to help promote this culture. Can recognizing the wrong answers drive the right behaviors? 3

4 Regional practices From a business perspective Here is a small handful of regional reward and recognition practices that are currently in place across EMEIA Advisory formal and informal, and nonmonetary and monetary. CESA In Central, Eastern and Southeastern Europe & Central Asia (CESA), the Commonwealth of Independent States (CIS) team has created a comprehensive total rewards booklet that covers all aspects of reward and recognition. It includes all details of reward, such as career development, compensation, benefits and work lifestyle. It covers Leadership Development and Evaluation (LEAD)/counsellors, and other additional services that are available. In Central and South East Europe (CSE), Bulgaria and Czech Republic have flexible benefits in place while Greece offers employee loyalty cards. The Baltics have a recognition program called Sparkle of the Eye. In Romania, they have High Five a point system where people can give their colleagues points for demonstrating EY values. GSA Germany, Switzerland and Austria (GSA) has the A strong team we celebrate 10,000 EY colleagues at EY Germany initiative to thank and reward their people informally for all of their hard work. EY member firms in Germany broadcast the FIFA World Cup games in their SkEY lounges, and offered drinks and entertainment for all. UK&I MENA Open to staff and senior ranks, Middle East and North Africa (MENA) has introduced the Shukran Star a spot award to provide justin-time recognition for a specific action or achievement beyond what is normally expected of a person. India To help us become more appreciative of colleagues and improve satisfaction in the workplace, United Kingdom & Ireland (UK&I) has designed a fun and easy way for their people to say thank you to each other and celebrate success by using a site to send electronic cards. To enhance the experience of recognizing and being recognized, EY Advisory in India has put together a recognition framework. They use personalized communications, spotlight boards and kudos to acknowledge special achievements. Summary of resources GSA Message MENA Shukran Star CSE High Five UKI Thank-you CIS Total Reward Booklet India Framework EY Global BBWY EY Global Entrepreneur of the Year MENA Winning Women Can recognizing the wrong answers drive the right behaviors? 4

5 Food for thought Top 10 simple ways of recognizing EY professionals Effective recognition demands visibility, development and opportunity 2 1 Say thank you take ownership in driving a recognition culture. 4 Reference (copy in an ) the team or individual responsible for the work when communicating to stakeholders. 7 Provide the opportunity to attend a leadership or development course. Ask the individual or team to join a call or meeting to listen and learn. 5 Provide stretching opportunities, differing roles in the team, job rotations, secondments that align to development needs. 8 Ensure that the work that you and your team do is understood by stakeholders. 10 Feedback the output and results of the work to the team. 3 Invite the individual to present findings or share directly with stakeholders. 6 Celebrate success spend time with your team in an informal way (dinner, team away day, events, etc.). 9 Provide open and honest feedback; lead by example.

6 EMEIA Advisory Talent - D&I Contacts EY Assurance Tax Transactions Advisory + Alice Drysdale EY EMEIA Advisory Talent HRBC alice.drysdale@uae.ey.com Carmen Goudalle EY EMEIA Advisory Talent Consultant carmen.goudalle@fr.ey.com About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com EYGM Limited. All Rights Reserved. EYG no Gbl ED None This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice.