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disengagement and incentivizing

How to Incentivize the Modern Workforce

With the inherent uniqueness of the individual in the corporate workforce, it is a virtual impossibility to find a one size fits all approach to incentivizing employees. An unincentivized employee is likely a disengaged one, meaning aspects of your business such as innovation, productivity, and retention could suffer. Furthermore, a workforce should be recognized and rewarded for embodying clearly defined corporate values or meeting specific company goals in a highly visible way, otherwise, employees may lose sight of the relevance of their work to the overall company mission, leading to disengagement and eventually attrition.

Moving from Disengaged to Incentivized

In their recently published report, Tomorrow’s Management Today: Incentivizing Workforce Innovation, The Aberdeen Group further stresses the importance of instituting and maintaining a well-defined, highly visible recognition and rewards program. Specifically, the report finds that employees at Best-In-Class companies were 31% more likely to stay with their employer if they felt that their work was relevant, and visibly impacted the organization. One of the easiest ways to ensure that recogntion reinforces successes aligned with company values in a highly visable way is by investing in an HCM system that offers a robust, goal-based recogntion and rewards component.

In-line with Alignment

Employees shouldn’t have to guess as to what the values and goals of their given organization are, nor should it be difficult to recognize and reward them for adhering to these values in pursuit of the stated goals. These shared goals and values should be apparent to everyone in the company, regardless of job title. Difficulty in effectively communicating key corporate objectives on an enterprise-wide level, isn’t a new phenomenon; companies have long been challenged with providing granular clarity to lower-level employees. Merely, announcing these goals at a quarterly kick-off meeting or sending them out in yearly newsletter does little to align individual employees’ around these goals.

Aberdeen Quote

Bottom-Up Drivers of Greater Productivity

Where it was once difficult to measure concepts such as productivity, innovation, etc., the continuous evolution or HCM systems, specifically those emphasizing recognition and rewards, can offer a tangible measurement as to the employees demonstrating those qualities a company values most. In this report you will learn how best-in-class companies are beginning to focus their peripheral HCM spend on goal-based platforms in rewards and recognition and how they are favoring bottom-up measures to drive greater workforce productivity.

Now that you have a general understanding as to the major cultural shift emphasizing employee engagement, download Aberdeen’s report on Incentivizing Workplace Innovation for more information, including recommendations regarding the selection of an HCM ecosystem.

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About the Author

Iain Ferreira

Iain Ferreira is the Content Marketing Manager at Achievers. He lives in San Francisco. You can view his Linkedin profile here.

 

 

 

Company Mission Statement

Why you should integrate employee ideas into your mission statement

How many of your employees could recite your mission statement, or even summarize it? If your answer is “almost none,” you’re missing out on a powerful engine for employee engagement. Too often, the company mission statement quietly resides on a website page no one ever looks at, while the actual fabric of company life is woven from the strings of daily tasks. Here’s why your organizational health depends on having a mission statement that resonates with your employees, and a few words about how to make that happen.

Mission statements should drive engagement

People need a purpose for the work they do. A job for which a paycheck is the sole motivator usually leads to a disengaged if not alienated workforce, and obviously no business thrives in that condition. While few workplaces may be subject to such a total emotional disconnect, many still have plenty of room for improvement: In our 2015 North American workforce report, we discovered that more than half of today’s workforce (57 percent) don’t find their company’s mission statements inspiring at all. Here’s one possible reason: 61 percent of survey respondents stated that they didn’t even know their company’s mission.

Employees play a crucial role in setting the mission

Bruce Casenave, Nautilus Inc. CEO, points out: “Not only does your company need to maintain clearly identified values, but every employee must understand his or her role in supporting the mission in order to achieve the collective results.” Harvard Business Review adds, “Employees who don’t understand the roles they play in company success are more likely to become disengaged.”

How to encourage employee input

Soliciting and vetting ideas from large employee populations may sound like an impossible time sink, but with today’s collaboration platforms, it’s more doable than ever. Red Hat CEO Jim Whitehurst relates his company’s successful use of a global communication tool to invite employee input on rewriting the mission statement. He admits that the process did give rise to blunt commentary from workers to managers, but a free exchange of ideas was essential for establishing companywide buy-in to the final statement. A leader can jump-start the creative process by posing open questions to workers, such as “What do you think we do well?” or “What should the company core values be?”

Allowing your employees to express their vision for the company mission can only have a positive impact. Such mutual goal-setting is a great practice for making sure your employees feel aligned with your overarching business objectives and motivated to help you meet them.