Low cost, high impact ways to show you value your employees
The global pandemic has triggered a shift from 1st Stream Change to 2nd Stream change where people are at the centre and the reason for the change. The Great Resignation is requiring companies to rethink how they engage their people in change and take them with them on the change journey as co change-makers.
People want more from organisational change projects. They expect their work experience and contribution to be augmented by change. This is being called The Great Awakening. At Brownie Points we call this the New World of Work.
Thought leading organisations around the world understand the value of passionate employees and what they bring to their business.
They appreciate the correlation between passionate and engaged employees, and brand value and corporate performance.
Engaged employees are proven to take fewer sick days, stay longer, are more productive and deliver greater customer/guest experience.
Global consulting organisations such as Gallup are predicting that post Covid we will see the years of “talent wars” as many employees (up to 50%) look to move on from their current role, having waited during the pandemic as a form of security.
Implementing a recognition program and a strategy around talent retention and attraction is critical to businesses looking to become an employer of choice and compete in the war for talent.
Building a Culture of Appreciation to recognise good to great behaviour and random acts of kindness that is broadcast across the organisation can help. Making staff feel appreciated, valued and part of the corporate vision is key to ensuring employees are engaged and retention is improved.
If staff turnover is an issue for you, please take a moment to complete the form on the link below to see what it is costing you to replace your lost talent.
https://browniepoints.com.au/employee-retention-calculator/
With many businesses finances hit hard with Covid, budgeting for recognising and rewarding staff going the extra mile might seem a luxury but in fact it is an extremely sound investment.
When an organisation is operating on a tight budget, recognition programs, along with the associated marketing, are often the first items that are cut. And yet these are the investments that should be kept as they can lead to improved performance, increased productivity, cost saving ideas and increased customer loyalty.
Cutting your recognition program can have a long lasting impact on your employee’s morale, productivity and overall performance, meaning that your budget cuts actually make things worse. This can be especially true for your top performers, who seeing their recognition diminish may decide to look for alternative employment.
But cash shouldn’t be your only motivational resource. A little creativity can go a long way in developing an employee recognition and reward program that boosts morale while keeping your expenses down.
Remember that the goals of a recognition and reward program are to acknowledge your employees’ accomplishments, to encourage them to keep up the good work, and to incentivise your other team members to do the same.
Also remember that recognition is far more powerful than rewards and saying “thank you for doing a great job” costs nothing and goes a long way.
It is interesting to note that 89% of managers think that their company is effective at recognising employee performance, while only 35% of employees feel that they are recognised for their contribution.
One of our major clients has introduced a paid “wellbeing day or half day” as a reward, where the employee must go to the beach, ride their bike, go to the gym, or some similar health related activity to receive their paid day off. The employee is required to take a selfie which is published on the program Notice Board, and this has created a healthy competition to see who can come up with the most unusual activity.
This is a fantastic reward to motivate staff, with a high value to the recipient and a low cost to the business that also helps to improve the health of their staff.
Other clients are now doing similar, with CSR and Wellbeing rewards catalogues, where staff can donate their recognition points to a charity, take paid time off for voluntary work, take a gym membership, plant a tree, have a massage or sponsor an animal. The act of giving while not impacting the wallet is especially popular.
When budget gets in the way of employee recognition, dig deeper and get creative.
Learn what really drives your workforce, whether it’s increased recognition, or some added perks and fun. By using this insight to think outside of the box, you’ll be able to create an employee recognition and reward program that keeps your workers motivated without straining your budget.
Looking after your staff wellbeing and motivation is critical to the success of your business. If you don’t look after your staff your competitors will.
Tony Delaney, CEO Brownie Points.
