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Rewards and Recognition

A Guide to Modern Employee Recognition Programs

The past few years have accelerated digital transformation across sectors, including the HR industry. A crucial subset of HR is rewards and recognition, which has gained immense traction as volatile uncertainty and high turnover grapple the corporate world. The advent of digitization coupled with the fundamental shift in employee mindsets has prompted organizations to rethink and redesign their R&R frameworks so as to accommodate a tech-oriented, people-centric culture.

Building an apropos digital R&R program need not be cumbersome; by incorporating a few key elements that amplify the effect of appreciation, organizations can craft meaningful recognition strategies that keep employees engaged and subsequently boost employee retention. Partner with a suitable R&R solution provider equipped with technological functionalities that can help breathe new life into your employee engagement approach. Here are a few strategies that can work as a guide to building a modern employee rewards and recognition program.

Craft an Immersive Recognition Experience

The transactional nature of employee recognition is no longer sustainable; making it a worthwhile experience is what creates a long-lasting impact. To foster a culture of genuine appreciation, add a few fun elements that can elevate the effect. A turnkey employee recognition platform can nurture authentic and personal recognition experiences through e-cards, personalized messages, specific recognition categories, reward points, and media content such as videos and audios to revolutionize how appreciation is professed in your organization.

Introduce Value-Based Recognition

It is important to design an employee recognition strategy that drives the objectives of a prosperous business future built on the grounds of corporate values. Value-based recognition ties tangible actions to the foundation of an organization, thereby strengthening organizational culture. Include a series of recognition categories that reinforce desirable values through a customizable digital R&R platform. Read our blog to know more on how R&R can be leveraged to promote value-driven behaviors.

Recognize Consistently and In-Time

The most effective form of recognition is the one that is given instantaneously, as the association between contribution and recognition weakens over time. A digital R&R platform can help celebrate day-to-day achievements of team members as recognition can be given in real-time through a hassle-free process, and accomplishments can immediately be shared across the organization via a social wall. Furthermore, a mobile application for R&R facilitates recognition anywhere, anytime, on-the-go. The platform can also send nudges to managers and senior-level employees as a reminder to recognize good work via mail, SMS, or in-platform communication.

Make Recognition a Social Affair

A digital R&R solution offers the option to give a private or public recognition at the recognizer’s discretion. While a private recognition is effective, being recognized publicly magnifies its impact. Sharing praise with a wider audience induces collaboration and provides examples of commendable actions. Additionally, social recognition can highlight innovations or challenges that may spur valuable discussions within teams. Social integrations with LinkedIn, Twitter, and other social media channels further intensifies the visibility of appreciation, allowing employees to share their achievements over their personal handles. Thus, adopting a one-stop solution for recognition creates a sense of community and belonging for employees, be it a virtual, in-office, or hybrid workplace.

Implement 360-Degree Appreciation

A powerful strategy to make recognition the norm is to diversify the recognizer base. Implement a 360-degree recognition system where apart from manager-to-employee appreciation, employees are also empowered to recognize peers and managers.

Convert the traditional top-down recognition framework to a 360-degree one by adopting a robust employee recognition software. This will help in eradicating the bottlenecks imposed by the conventional one-way approach and also improve peer bonding as a supplementary advantage.

Integrate Recognition with your Organizational Culture

Integration is one of the most beneficial feature offered by an R&R solution as it seamlessly embeds recognition into the organization culture. Adopt a flexible employee engagement software that can integrate with your existing technology ecosystem that includes HRMS, Outlook and performance management systems. This allows real-time streaming of recognition on org-wide media channels and the recognition feed can also be displayed on the homepage of your Intranet.

It’s Time to Transform your R&R Program!

Use this guide to design a modern employee rewards and recognition program, and connect with us for expert consultation on your R&R digital transformation journey. Book a demo of our novel R&R platform today!

Categories
Employee Engagement

4 Ways to Engage Women in the Workplace

As an increasing number of women make up today’s workforce, understanding the needs of this segment of the population is key to overall employee engagement. Women can be envisioned as the forerunners in the shift towards a purpose-driven economy, as they showcase dual commitment to both family and work which accelerates their pursuit of a meaningful purpose in their jobs. The Centre for Creative Leadership (CCL) has asserted that having more women in the workplace makes an organization a better place to work, for people of all genders. Thus, the organizations that value diversity and strive to unleash the power of the female workforce are the ones that can efficiently crack the code to employee engagement.

Why Focus on Engaging Women Employees?

Recent surveys have indicated that the number of disengaged women professionals is growing in leaps and bounds. As gender inequality continues to prevail in the workplace, the false perception of women being either competent or likable, but not both, discourages them and negatively impacts engagement levels. Women are paid less for the same performance, are less likely to speak up compared to men, and still remain underrepresented in top positions.

In order to strike an adequate gender balance in the workplace, organizations need to make conscious efforts and investments in the right direction. Here are 4 strategies that can bring about change and significantly engage, motivate, and retain your women employees.

Recognize and Reward with Perks that Women Actually Want

Successful engagement requires going beyond traditional recognition programs to redefine and rethink appreciation from an individualistic perspective rather than adopting a blanket approach. Leverage a digital rewards and recognition platform to design a customized R&R framework that caters to the likes of your female workforce; as per research, women prioritize better health insurance, paid leaves, vacation time, and work-from-home option as the top benefits apart from compensation. Housing a diverse rewards catalog is a great way to ensure the freedom of choice and also empower women in the process.

Women cite appreciation from their superiors as the top criterion they look for in a job. A great way to make appreciation equal and fair is to initiate performance-based recognition that nullifies the effect of hours spent on the desk and prioritizes the quality and quantity of work done, irrespective of location.

Encourage Peer Bonding

A Gallup study about women in the workplace found that female employees who strongly agree they have a best friend at work are more than twice as likely to be engaged (63%). The same study also found that two-thirds of women claimed the social aspect of a job as a “major reason” why they work. It is sufficing to say that women desire meaningful connections with their peers, which inherently drives them to excel and produce better results as a result of cognitive happiness.

Support a culture in which friendships and connections with colleagues can thrive by adopting a digital employee engagement platform. Features such as 360-degree recognition that facilitates peer-to-peer recognition, team events, social wall for user posts, and virtual contests are extremely beneficial in accelerating peer bonding and inculcating team-based skills.

Support Work-Life Balance

Research has shown that one of the reasons for the engagement gap in the workplace is the expectation of employees to spend long hours at their desks. This can be a detrimental factor for women, especially working mothers as they have to balance their professional calling, economic independence and familial commitments at the same time.

Provide autonomy to employees on how they manage their time and give them the flexibility to work remotely. However, research has found that women are actually less likely to get this much-needed flexibility than men are. Thus, stand out as a great organization for women by offering equitable, accessible, and contingent flexibility. Read more on how equality and fairness can be ensured in a flexible, hybrid work culture.

Implement a Robust DI&E Program

Studies have shown that only 12% of CEO and board-level positions are held by women all over the world. This striking anomaly is reason enough to consciously work towards emphasizing the role of women in organizational growth. Designing and implementing a foolproof DI&E program is imperative to make women feel acknowledged, respected, and equally appreciated for their contributions.

An employee engagement software can be instrumental in revolutionizing DI&E within your firm as it is a convenient, hassle-free way to maintain a free-flow of communication via social wall posts and org-wide announcements and keep a pulse on employee sentiment via surveys and polls. Also, closed groups and discussion forums can be organized through the platform, giving employees a confidential avenue to provide their feedback, offer female employees a safe and confidential way to voice their opinion, and make a difference to their own engagement.

Ready to Take the Next Step?

We at Gratifi help companies understand and scrutinize their unique engagement issues before strategizing an effective, personalized plan of action that caters specifically to their needs. Connect with us for an expert consultation on holistic engagement and explore our customizable rewards and recognition platform that can help your talent thrive and engage!

Categories
Employee Engagement

Powering a New Employee Value Proposition Using Technology

“The fastest way to get your customers to love your brand is to get employees to love their jobs.” – Tiffani Bova, Salesforce

What is an Employee Value Proposition?

Employee Value Proposition (EVP) is a clear articulation of the value your employees derive through the employee experience, or the sum of everyday lived experiences within your organization, as per the definition by Deloitte. Its’ traditional definition included compensation, benefits and employee incentives, keeping in mind the transactional nature of the labor contract. However, the post-pandemic workforce has redefined what work means to them. It is no longer a mere source of livelihood but the foundation on which they build intangible outcomes like:

  • Realize their individual potential
  • Work together to achieve a larger purpose
  • Nurture their families and communities and so on

Why Reinvent the EVP?

Competitive organizations are in need of a highly capable talent pool to increase profits and market value. However, the war for talent just seems to be intensifying and the organizations winning this game are doing so on the basis of a strong EVP. An EVP not only helps to attract and recruit the right talent but also engage and retain them. As per Gartner statistics- Organizations that effectively deliver on their EVP can decrease annual employee turnover by just under 70% and increase new hire commitment by nearly 30%.

What Does the New EVP Look like?

Simply put, the new EVP is guided by a more human approach to what employees want. The pandemic saw a 64% increase in organizations extending employee wellness support in terms of healthcare, finances or mental health. The world witnessed a rapid shift to remote working and increased flexibility wherein employees structured their work around their personal responsibilities. In other words, the boundaries of the personal and the professional irrecoverably faded and this has continued into the post-pandemic era.

Organizations need to plan how workers can continue to bring their full selves to work and enhance their overall quality of life, not just work life. This can be achieved by intentionally crafting and implementing a powerful EVP in a way that is inclusive and caters to diverse employee needs. This blog will hereon explore the role of technology in bringing a renewed EVP to life.

The Role of Technology

Technology has an important role to play in reinventing, communicating and implanting the right EVP for your organization in the following ways-

Stage 1- Reinventing your EVP

This stage needs extensive data analysis to understand the employee pulse as well as market expectations from your employer brand. While social media and internet job portals are a useful external lens, the organization needs a range of touchpoints with their own employees to understand what’s missing. Do they need better mentorship and growth opportunities? Do benefits like childcare policies need a revamp? A robust employee engagement software can help setup systems to get these answers through:

  • Pulse surveys at the interview, onboarding, post-onboarding and exit stages to map employee journeys
  • Employee sentiment analysis tools as an entry point into cultural gaps
  • Anonymous 360-degree feedback mechanism for people issues
  • Engagement and performance statistics in a lucid, real-time format

Stage 2- Communicating your EVP

Once your new EVP is crystallized, it needs to be communicated to every representative of your organization’s brand, including customers. In fact, studies have shown that customers increasingly prefer to associate with companies who have a positive employer brand. Additionally, contractual workers and sales partners need to be educated about and experience the organization’s EVP through:

  • A unified communications portal for employees, partners and other stakeholders about organizational policies
  • An accessible online rewards, learning and benefits marketplace on an R&R platform
  • A custom rewards framework championing the values in the EVP like innovation

Stage 3- Implanting your EVP

Making the EVP come alive requires commitment at various levels and across functions in the organization. Be it managers or even ‘EVP champions’ or even peer volunteer groups who are willing to endorse and expound on the organization’s employee-centric policies, ownership at every level is key. Leveraging employee engagement practices to implant the EVP in the everyday functioning of organizations can be done through:

  • Live streaming events with the senior management for employee concerns
  • Online discussion groups and forums on social issues that matter to employees
  • Offering volunteering opportunities and employee recognition for the same

Conclusion

The modern EVP needs to be inclusive, equitable and holistic for it to enjoy success among today’s workforce. Every organization needs its own roadmap for delivering maximum value to their employees, but the journey can be made easier with seamless technological tools to support connectedness and data-driven insights to build back better.