Best practice employee recognition
The modern best practice recognition program is different in three main ways.
- It favours frequent and small instances of recognition that reaches everyone, instead of large lavish gestures that reach only a few ‘high performers’.
- The instances of recognition within the program are visible to everyone and ‘socialised’ just like on social media, creating conversations around great behaviours.
- The recognition program is designed by the employees. In our experience, employee designed programs are more creative, engaging and more sticky as employees have a ‘sense of ownership’.
As a rule of thumb the best practice for budget allocation is between .05 and 2 percent of payroll depending on the number of employees and the objectives of the program. For a program to succeed each person needs to know how his or her work contributes to the company’s values, goals and results.
To find out more about how the RedBalloon for Business team can help you reward and recognise your people, contact us today.