Motivate Europe Live: The role of Recognition and Incentives in the ‘Employee Value Proposition’ (EVP
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Jamie Clarke Business Development Director, Edenred
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Motivate Europe Live: The role of Recognition and Incentives in the ‘Employee Value Proposition’ (EVP
- 1. The role of Recognition and Incentives in the ‘Employee Value Proposition’ (EVP) Jamie Clarke Business Development Director Stand no. 509
- 2. CONTENTS What is the Employee Value Proposition 1 Engagement and its role 2 Incentive and Recognition Schemes 3 A look at Social Recognition 4 The role of Incentives and Recognition in the EVP? 5
- 3. “The elements employees consider when evaluating an employer” EMPLOYEE VALUE PROPOSITION 3
- 4. WHY DEVELOP YOUR EVP 4 • Attract the right employees • Retain top performers and skilled workers • To deliver sustainable engagement • Engaged – Applies extra discretionary effort • Enabled – Environment that supports productivity • Energised – Physical & emotional wellbeing at work
- 5. ENGAGEMENT AND IT’S ROLE 5 Engagement’s effect on KPIs • 10% higher customer satisfaction • 22% higher profitability • 21% greater productivity • 65% lower employee turnover (Low TO Orgs) • 25% lower employee turnover (High TO Orgs) • 48% fewer safety incidents • 37% lower absenteeism • 41% fewer quality defects Median between top & bottom quartile teams *SOURCE: State of the Global Workforce 2013, Gallup Press.
- 6. INCENTIVES 6 • An incentive is what you offer from the outset of a scheme • Typically variable payments tied to performance • Cash or non-cash rewards e.g. Vouchers, Gifts, Travel • Goals are predetermined • Generally non-discretionary
- 7. INCENTIVE SCHEMES 7 • Increase overall sales • Specific / New Products • Sales to targeted clients • Sales within specific regions • Ancillary products / services Most commonly associated with sales objectives
- 8. INCENTIVE SCHEMES 8 • Client attraction / retention • Raise average order value • Reduce old stock • Reactive - competitor scheme • Improve KPIs (Activity) • Consumer Incentives Most commonly associated with sales objectives
- 9. INCENTIVE SCHEMES 9 • Reduce absenteeism • Reduce costs/waste • Improve safety • Improve time-keeping • Improve productivity But its not all about sales…
- 10. INCENTIVE SCHEMES 10 • Improve staff retention • Improve budgetary control • Lead generation/referrals • Recruitment of new staff • Idea Generation But its not all about sales…
- 11. RECOGNITION 11 • Acknowledging or giving special attention to employee actions, efforts, behaviour or performance • Often supports business strategy being aligned to company values
- 12. KEY PRINCIPALS OF RECOGNITION 12
- 14. WHERE DO THEY SIT IN THE EVP? 14
- 15. SUPPORTING THE EVP 15 “Skills Development” “Career Development” “Wellbeing” “Ethics & Values” “Camaraderie” “Compensation” “Manager Quality”
- 16. 16 Stand no. 509 Presented by Jamie Clarke THANK YOU
Notas do Editor
- Recognition: Acknowledging or giving special attention to employee actions, efforts, behaviour or performance. Recognition can include both formal and informal programs. Recognition often supports business strategy and is aligned to company values by reinforcing certain behaviours or simply recognising extraordinary accomplishments. Incentive: Any form of variable payment tied to performance. The payment may be a monetary award, such as cash or a non-monetary award, such as merchandise or travel. Incentives are contrasted with bonuses in that performance goals for incentives are predetermined. Generally nondiscretionary and can be paid at any time of the year.
- communication content for motivation programmes it is imperative that the following are always included Each communication stage has its own role to play in delivering the Tell, Sell, Educate, Motivate and Report messages:
- communication content for motivation programmes it is imperative that the following are always included Each communication stage has its own role to play in delivering the Tell, Sell, Educate, Motivate and Report messages:
- communication content for motivation programmes it is imperative that the following are always included Each communication stage has its own role to play in delivering the Tell, Sell, Educate, Motivate and Report messages:
- communication content for motivation programmes it is imperative that the following are always included Each communication stage has its own role to play in delivering the Tell, Sell, Educate, Motivate and Report messages:
- Recognition: Acknowledging or giving special attention to employee actions, efforts, behaviour or performance. Recognition can include both formal and informal programs. Recognition often supports business strategy and is aligned to company values by reinforcing certain behaviours or simply recognising extraordinary accomplishments. Incentive: Any form of variable payment tied to performance. The payment may be a monetary award, such as cash or a non-monetary award, such as merchandise or travel. Incentives are contrasted with bonuses in that performance goals for incentives are predetermined. Generally nondiscretionary and can be paid at any time of the year.
- Unlike compensation and incentive-based programs, recognition programs potentially can create a positive cycle of ever-increasing employee engagement and motivation, with resulting improvements in job performance-related behaviour's to optimum levels with a limited investment.
- Recognition: Acknowledging or giving special attention to employee actions, efforts, behaviour or performance. Recognition can include both formal and informal programs. Recognition often supports business strategy and is aligned to company values by reinforcing certain behaviours or simply recognising extraordinary accomplishments. Incentive: Any form of variable payment tied to performance. The payment may be a monetary award, such as cash or a non-monetary award, such as merchandise or travel. Incentives are contrasted with bonuses in that performance goals for incentives are predetermined. Generally nondiscretionary and can be paid at any time of the year.