Building Employee Engagement through Incentive Programs

Transcription

1 Building Employee Engagement through Incentive Programs

2 Meet the Presenter Sylvester Deimler President DEIMLERS.COM, INC. DEIMLER INCENTIVES

3 If employees truly are a company's best asset, then their care and support should be a priority. Incentive Programs alone WILL NOT increase employee engagement People have a natural desire to be Great Most employees are looking to work in an environment where they and their ideas are valued They don't genuinely care about their company until they first know their company cares about them. **First show you really care about your employees; only then will they start to really care about your company

4 According to Forbes: Fewer than 50% of companies have programs that rewards workers based on performance indicators. Question: 1. Do you currently have a Recognition Program in place? 2. Is your Recognition Program Performance or Tenure based?

5 According to Forbes: 87% of the recognition programs focus on tenure. What their research found was that tenure-based rewards systems have virtually no impact on organizational performance Companies that scored in the top 20% for building a recognition-rich culture actually had 31% lower voluntary turnover rates! Remember that the purpose of recognition is to drive greater levels of discretionary effort. Such discretionary effort comes when we, as people, feel inspired to do more In Maslow s heirarchy of needs, two of the most valuable psychological needs we have as human beings are the need to be appreciated and the need to belong.

6 Gallup: Majority of U.S. Employees Not Engaged Despite Gains in 2014 WASHINGTON, D.C. -- Less than one-third (31.5%) of U.S. workers were engaged in their jobs in The average is up nearly two percentage points from 29.6% in 2013 and represents the highest reading since 2000, when Gallup first began tracking the engagement levels of the U.S. working population. However, a majority of employees, 51%, were still "not engaged" and 17.5% were "actively disengaged" in 2014.

7 Gallup: Engagement Highest Among Managers Among job categories, managers, executives and officers had the highest levels of engagement in 2014 at 38.4%. This group outpaced every other job category Gallup tracked and saw the greatest gains in engagement from 2013, moving up nearly four points from 34.7%. **Disengaged managers are three times more likely to have disengaged employees

8 WHAT IS ENGAGEMENT? A mutual commitment between the company and the employee. Unlocking employee potential to drive high performance. Engaged employees are there to give. Engaged workers set themselves apart because of the discretionary effort they consistently bring to their roles. **These employees willingly go the extra mile, work with passion, and feel a profound connection to their company. They are the people who will drive innovation and move your business forward.

9 It s no longer just what you do it s why you do it To win more customers and a larger share of the marketplace companies must first win the hearts and minds of the employees When employees are engaged, they are emotionally connected to the mission and purpose of their work More committed to helping their company grow More likely to recommend improvements More likely to recommend their company as an employer Both the company and employee benefits from recognition **Employees with lower engagement are 4 times more likely to leave their job

10 Model the leadership skills employees need to adopt in order to become great leaders themselves: Integrity True motivation comes from within It s not our job to motivate our employees, it s our job as leaders to inspire them. The best way to do so is to lead by example. Professionalism Transparency Confidence Commitment Respect Trust Great book on this subject. Taking the High Road By: Frank Bucaro **Employees look to their employers for answers, so leaders should aim to continuously model what it is to be a successful, positive model in the workplace

11 Some of my favorite books!! The 21 Irrefutable Laws of Leadership by: John C. Maxwell ~ How to Win Friends & Influence People by: Dale Carnegie ~ Positive Personality Profiles by: Robert A. Rohm, Ph.D. You are the same today as you will be five years from now, except for two things, the people you meet and the books you read. - Charlie Tremendous Jones

12 The keys to developing a rewards program are as follows: Identification of company or group goals that the rewards program will support Identification of the desired employee performance or behaviors that will reinforce the company's goals Determination of key measurements of the performance or behavior, based on the individual or group's previous achievements Determination of appropriate rewards Communication of program to employees Organizations are budgeting an average of 2% of the payroll budget to be used for recognition programs

13 Next time you see someone doing the right thing, take a minute and thank them openly. It s good management and good business!!

14 Thank You for sharing part of your day with me! Because of our time together today I will be better at what I do the next time. If you would like to discuss any part of what we talked about here today please do not hesitate to contact me.. - Sylvester Deimler sylvester@deimlers.com ~ ~