Reward vs recognition do you know when to use each motivator

Reward vs Recognition: Do you know when to use which motivator? bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Ben Peterson, co-founder and CEO of BambooHR bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Most of the time, reward and recognition go hand-in-hand What are the differences? bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Why focus on employee recognition? bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? “Employee recognition is the number one factor when motivating employees in the workplace.” bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? 69% of employees would work harder if they were better recognized bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? of employees find it annoying when they are not recognized for the accomplishments they contribute to the team and company bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? “Organizations that give regular thanks to their employees far outperform those that don’t.” —Josh Bersin bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Did you know employees want some form of recognition every days? Yet only 12 percent of employees say they often receive appreciation for great work bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Actions that align with company’s goals and strategy “Too many CEOs and managers focus on bottom line results without thinking about how it feels to slog away and work without anyone saying thanks.” —Josh Bersin bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Why focus on employee rewards? bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? The workforce is changing By 2020, half our workforce will be millennials bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Employees want to be rewarded for their hard work • 44 percent of employees said tangible (type financial rewards) highly or very highly increased their engagement • 63 percent of employees said intangible rewards highly or very highly increased their engagement — The Hay Group bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Not all are about bonuses, raises, or even cash 46% of incentives offered by US companies are non-cash incentives Don’t be afraid to get creative! bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? “It’s impossible to win the hearts and minds of people unless you clearly establish goals and values and reward people if they act in a way that leads to the fulfillment of those objectives.” —F Robert Salerno, CEO of Avis bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? So how can you best reward employees? bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Objectively (and transparently) identify who deserves reward and for what bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Figure out how much value the work contributed bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Decide—as an organization—if you want to reward only the big wins and successes or the milestone steps and wins along the way But consistency is important bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? 10 reasonably priced ideas for rewarding employees: 10 bamboohr.com Stock options Gift cards Time off Late in/early out Growth opportunities Fun Tickets A massage A personalized gift Free food 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Selecting what’s best for your company bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Who should be rewarded and recognized? bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Start today! Think about why, when and how to best motivate your people bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Thank you! Follow BambooHR on social media: bamboohr.com/blog bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Questions? BambooHR Receive a free job posting on our ATS and full HRIS for one week We will contact everyone within the next few days to set this up bamboohr.com 1-866-387-9595 ... 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? Why focus on employee rewards? bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? ... Reward vs Recognition: Do you know when to use which motivator? Selecting what’s best for your company bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator? .. .Reward vs Recognition: Do you know when to use which motivator? Ben Peterson, co-founder and CEO of BambooHR bamboohr.com 1-866-387-9595 Reward vs Recognition: Do you know when to use which motivator?