Hdi R & R External 1

1992 News

• Unemployment at 7.1% highest in 5 years

• Big 3 car makers report record loses

• Dow high 3,413• New home cost

$144,000• Gallon of gas - $1.13• Gallon of milk $2.78

Retention Rewards & RecognitionWhy it’s Important

Presented by Doris Blanks

Agenda

• Retention

• Recognition

• Reward Programs

• Q& A

Retention

Employees don’t leave the job they leave their Supervisor. – As the economy improves, 83% of employees

indicate they plan to look for a new job; Source: SHRM

Perceived lack of recognition of their skills – 79% of employees who quit their jobs cite "lack of

appreciation" as the #1 reason for leaving. Source: Jackson Organization

Retention

Cost of recruitment

If a new recruit leaves, just when they are productive, it takes 12 -18 months to get a new hire up to the same level

Don’t wait until staff is walking out the door to let them know they are valued

What’s your Attitude

Retention

We need people who are really passionate about your company (Supervisor)

We need people so pleased with the company they tell everyone they know about what a great company they work for.

VSP Employee Survey

2009 Survey results 92% – Over 2,100 employees participated in the

survey– VSP averaged in the 80 percentile

compared with other similar organizations– Key questions

• My supervisor treats me with respect 86th • What I do is important to the overall success of

the company 88th

Recognition is a basic need

Maslow’s hierarchy of needs

Self actualization

Esteem

Love /Belonging

Safety

Physiological

Recognition

Basic Food, Water

RecognitionEveryone needs respect to be successful

Engage ALL staff – 90% improve performance after being

praised. Source: J.Pfeffer, Stanford School of Business

Recognition

Focus on successes & strengths

Communicate to your employees the exceptional job they are doing – The preferred form of recognition at the

workplace is verbal recognition 42%.  Source OfficeArrow survey

Recognition

A reward program should be part of your strategic goals or company values

You role as a manager – Understand how to improve the frequency, quality

and the alignment of recognition with your company and/or department goals

Recognition

Recognition = Higher productivity!– A Gallup study of nearly 5 million

employees revealed that an increase in recognition and praise in an organization can lead to higher engagement, lower turnover, higher loyalty and satisfaction scores.

Recognition should be

Specific

Timely

Personal

Frequent

Recognition

Decide how often and what type– Do I have a clear understanding of what motives

each employee– Do I recognize employees for significant

accomplishments– Do I seek opportunities to recognize employees

for the little things– I tell employees the specific reason for the

recognition– I make it personal– I do it as soon as possible

Recognition

Try Verbal recognition once every 7 days per employee – Acknowledgement – Thank You – I appreciate your help with ----– Great job on --

Reward Examples - Cards

Modeling Your Values Above and beyond performance

Accomplishment has amazing

affect on Your business

Gold winner who stands out from

the rest

Exhibiting exceptional employee service to fellow employees, business partners and community

Reward Examples – Mentoring

Value of MentoringOffer a Mentor Program, because research

strongly affirms that mentored individuals:• Perform better on the job; • Grow more rapidly within the organization; • Report more job and career satisfaction; • Express less desire to leave the organization

than non-mentored counterparts; and • Frequently become mentors themselves, ever

widening the circle of benefits.

Reward Examples - Partnering

The Partnering for Success Program gives employees an opportunity to recognize a co-worker within the IT division for successfully partnering with an internal or external business partner.

• Characteristics of Partnership– Trust– Added Value– Commitment – Effective Communication – Common Objectives

TAC Rewards

TAC Newsletter

http://tacatvsp.wordpress.com/

Quarterly Team lunches

Team Building events

Lunch with Manager or Director

You’ve Been Recognized!– Goodie Drawer

You‘ve been recognized cards

Technical Assistance CenterRuss Verbal praise by my boss on a one-on-one and then have it show up on my review.Char A promotion

New equipment or resources to do your job

Monetary bonus Viktor Special recognition at a team meeting

A promotion

Gift certificates [electronics store]

Monetary bonus

Verbal praiseLourdes Training in a new area that you are interested in developing

A promotion

An opportunity to shadow someone else in the company

New equipment or resources to do your job

Monetary bonus

Verbal praise

A letter of recognition from upper managementDeidre Training in a new area that you are interested in developing

A promotion An opportunity to shadow someone else in the company Being assigned a challenging project An anniversary gift honoring your service Gift certificates [Specify: Movies, Visa Gift Card]Verbal praise

Curtis Training in a new area that you are interested in developing

A promotion

Monetary bonus

Time off or sick time hoursChris A letter of recognition from upper management

Training in a new area that you are interested in developingAn opportunity to shadow someone else in the companyTeam luncheonA extended lunch for a day/week

Brian A letter of recognition from upper management

An anniversary gift honoring your service

Gift certificates [Specify: Movies, Visa, Jamba Juice, Amazon, Newegg]

Time off or leave early

Team luncheon

Conduct a Recognition Survey

Recognition

• Does it really make a difference? – Yes and here’s why – You will have Engaged High Performing

and Productive employees• What can you do at low or no costs?

– Create a culture of appreciation

Wrap Up

• Review

• Questions

• 3 minutes of motivation

http://www.youtube.com/watch?v=q5kn4OBRxro&feature=related

Sources of information

• http://www.keepem.com/ResourcesArticles.asp