The article discusses employee recognition, fully capturing our position that frequent, smaller rewards across the vast majority of employees is the best approach towards creating the most effective recognition program. This stance was validated in the article by Stanford Graduate School of Business Professor Hayagreeva Rao and the Corporate Executive Board, with additional narrative about our client Intuit’s employee recognition program.
Highlights from the article:
“The standard way of recognizing good performance – bonuses, new titles, high-priced quarterly giveaways to only the very top people – doesn’t motivate employees very effectively.”To see the “similar and surprising characteristics” of the best systems and read the rest of the article, visit Fortune at this link.
“What really works, says Eric Mosley, Globoforce’s founder and CEO, especially for a budget-constrained company are small awards, all the time, to almost everyone. … By studying employee satisfaction and retention rates, he discovered that the best systems had similar and very surprising characteristics.”
“Counterintuitive though they may be, Globoforce’s theories hold up, says professor Hayagreeva Rao, an expert in organizational behavior at Stanford, who is studying whether motivational “juice” is a type of dopamine that is active by unexpected positive results.”
“Intuit VP of human resources Jim Grenier says that employee satisfaction with the recognition of their accomplishments is up four percentage points since the company changed its approach. ‘I’ve never seen bigger awards get such a bang for the buck,’ he says.”