Tying Recognition to Business Initiatives: Trends and Insights for Success. Tying Recognition to Business Initiatives Vanessa Brangwyn

Size: px
Start display at page:

Download "Tying Recognition to Business Initiatives: Trends and Insights for Success. Tying Recognition to Business Initiatives Vanessa Brangwyn"

Transcription

1 Tying Recognition to Business Initiatives: Trends and Insights for Success

2 PRESENTER Vanessa Brangwyn Vice President, Customer Success, Achievers Vanessa is focused on helping our clients develop and cultivate successful recognition and reward programs that ultimately align with, and contribute to the attainment of strategic business objectives. Since 2011, Vanessa has had the opportunity to lead and develop a fantastic team of CSMs and partner with many diverse organizations who share her passion for creating a work environment committed to employee recognition as a key driver of business success. Achievers is passionate about employee success. Our social employee recognition software and suite of services helps companies to engage employees and inspire performance globally.

3 AGENDA Why employee engagement is more important, and harder to achieve, than ever before The connection between recognition and engagement Best practices for using recognition to build culture and employee engagement Customer success stories What can you do tomorrow?

4 Today s Workplace

5 SEISMIC SHIFT IN TODAY S WORKPLACE People work differently. People engage differently. People are motivated differently.

6 Change is being amplified by Social Media

7 16% of U.S. employees are actively disengaged. Source: Gallup State of the U.S. Workplace Report, 2017

8 More than half of today s workforce would not recommend their employer to their peers. Source: Bersin by Deloitte, research with Glassdoor. November 2014

9 45% of millennials expect to leave their current jobs within the next 24 months. Two thirds expect to leave their current employers by Source: Deloitte Millennial Study, 2016

10 Two thirds of HR respondents are looking for ways to update or revamp their entire strategy to measure, manage and improve employee engagement. Source: Deloitte Human Capital Trends 2014

11 Global companies ranked Culture and Employee Engagement as their #1 talent challenge in % CALLED THE PROBLEM URGENT Source: Deloitte Human Capital Trends Report, 2015

12 Employee priorities have changed. 95% OF JOB CANDIDATES RATE CULTURE AS MORE IMPORTANT THAN SALARY Source: Deloitte Human Capital Trends Report, 2015

13 Experts agree that Employee Engagement matters. Research has clearly and consistently proved the direct link between employee engagement, customer satisfaction and revenue growth. HBR, 2013

14 2x the annual net income. Organizations with highly engaged employees achieve twice the annual net income of organizations whose employees lag behind in engagement. Source: The Impact of Employee Engagement, Kenexa

15 The Service Profit Chain Employee Engagement Stakeholder Value Customer Loyalty

16 Most organizations spend more money measuring engagement than doing something about it. COST PER EMPLOYEE TO MEASURE EMPLOYEE ENGAGEMENT 1 PERCENTAGE OF BUSINESS LEADERS WHO BELIEVE ENGAGEMENT INITIATIVES ARE DRIVING BUSINESS OUTCOMES 2 $400 Sources: 1 Bersin by Deloitte; 2 CEB Engagement Research Survey.

17 TOOLS FOR BUILDING ENGAGEMENT Today s HR teams are responsible for improving employee engagement. They deploy many tools and strategies. We believe recognition is the most effective tool.

18 And, Harvard Business Review Agrees HBR S MOST IMPACTFUL TRIGGERS OF EMPLOYEE ENGAGEMENT 72% 70% 70% 69% 67% 64% 54% 52% Recognition given for high performers Individuals have clear understanding of how job contributes to strategy Senior leadership continually updates/communicates strategy Business goals communicated company-wide and understood Individual staff goals aligned with corporate goals Assessment and performance reviews aligned with corporate goals Some or all staff pay linked to corporate goal achievement Training and development organized around corporate goals HBR, The Impact of employee engagement on Performance

19 We all know recognition works, but ad hoc programs struggle to deliver outcomes and insights. Recognizing employees is the simplest way to improve morale and employee engagement. Source: Harvard Business Review May 9, 2016

20 Great things happen when employees feel good about work.

21 So how do you design and implement an effective recognition strategy to drive employee engagement?

22 Best practices in employee recognition: 1. Make it inclusive 2. Make it pervasive 3. Get leadership involved 4. Recognize frequently 5. Recognize both with and without rewards 6. Align with business objectives and focus on achievement of goals 7. Optimize through technology

23 Principle 1: Make it inclusive

24 C ORE VA L U E S Trusted Ambitious Proud Innovative Together P R OGRAM OBJECTIVES Become a purpose and values-led business Increase employee engagement to drive business performance P R OGRAM R E S U LT S 97% employee activation. 7.6 average recognitions per month per employee 14% point increase in annual engagement survey since launch Company Name Presenter Name February 2, 2017

25 Principle 2: Make it pervasive

26 C ORE VA L U E S Team Members Clients Innovation Communities Diversity & Inclusion P R OGRAM OBJECTIVES Improve the employee experience Build culture of recognition Create a one culture environment by consolidating and tracking programs across all acquired companies P R OGRAM R E S U LT S 670,000 recognitions since launch 10% Increase in recognition-related scores on global people survey since launch Company Name Presenter Name February 2, 2017

27 Clients do not come first. Employees come first. If you take care of your employees, they will take care of your clients. Sir Richard Branson Principle 3: Leadership involvement is key to building a culture of recognition

28 Principle 4: Recognize Frequently

29 % STRONGLY AGREE More frequent recognition = greater engagement times (N=14,494) 3 times (N=1,654) 6 times (N=514) 9 times (N=240) >12 times (N=824) # OF SOCIAL RECOGNITIONS RECEIVED ANNUALLY (NO POINTS DISTRIBUTED) I am recognized when I do good work Engagement

30 Principle 5: Recognize with and without rewards

31 Principle 6: Tie recognition to business goals

32 Employee recognition has historically been used to drive cultural values but recognition can also drive meaningful business results.

33 C ORE VA L U E S Simplify & Innovate Take Ownership Equip People to Succeed Execute with Discipline & Pride Talk Straight, Build Trust Over Deliver P R OGRAM OBJECTIVES Increase customer satisfaction Drive revenue growth Improve retention P R OGRAM R E S U LT S Increased NPS from 7 to 48 Increased call center upsells of additional services by 93% Reduced turnover in call centers to 6.2% Company Name Presenter Name February 2, 2017

34 HR is experiencing a shift towards, leveraging various technology solutions, information and data to help drive better business performance and results. Business News Daily, The Future of HR, Sept. 1, 2016 Principle 7: Optimize through technology

35 There are many technology solutions to choose from. Some important things to look for in a recognition platform: Captures real-time employee feedback Supports managers & teams Recognizes & rewards employees Shares employee successes Builds positive culture Reinforces desired behavior Aligns employee and company goals Drives business results

36 Driving engagement through recognition: Key principles 1. Make it inclusive 2. Make it pervasive 3. Get leadership involved 4. Recognize frequently 5. Recognize both with and without rewards 6. Align with business objectives and focus on achievement of goals 7. Optimize through technology

37 To win in the marketplace, you must first win in the workplace. Doug Conant CEO, Campbell s Soup

38 Thank you.