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Rewards and Recognition
"Rewards" typically refers to the "total rewards" an employee receives at work. This includes compensation, benefits, bonus, incentives, and other financial gains.
"Recognition" refers to expressed appreciation by one person to another for that individual's behavior, activities, or impact. Recognition may or may not be accompanied by a physical or financial reward.
Our research shows that the two are very different. "Total Rewards" contributes to a person's sense of "safety" and "well being" at work. In most roles compensation is what we call a "hygeine" factor - not enough compensation has negative effects, but more and more compensation often has no impact on performance.
Recognition, on the other hand, operates differently. Recognition (or "thanks") satisfies people's higher level need to feel valued, appreciated, and part of a team. Recognition done well is frequent, specific, and peer-based. Our research shows that companies with high recognition cultures have as much as 30% lower voluntary attrition rates.
Talent Acquisition Systems 2014: The Definitive Guide to Hiring Management Software—A Roadmap to Talent Acquisition and the Solutions That Support It
Talent Management Tech | 09/18/2014 | This study serves as both an introduction to the issues that impact talent acquisition and as a guide to essential features required in a solution for today’s hiring market.
High-Impact Talent Acquisition: Key Findings and Maturity Model
Talent Acquisition Strategy | 09/17/2014 | In this report, we highlight the key findings from our High-Impact Talent Acquisition (TA) industry study, showcase the new TA Maturity Model, present the TA Predictive Performance Model, and describe the results of high-impact talent acquisition.
Learning Management Systems 2014: Provider Comparisons and Profiles
Learning Tech | 08/27/2014 | Bersin by Deloitte’s Learning Management Systems 2014: Provider Comparisons and Profiles helps you to navigate the changing LMS landscape of providers and solutions.
High-Impact HR: Building Organizational Performance from the Ground Up
HR Org. & Governance | 07/24/2014 | In this industry study, we take a fresh look at today’s talent needs and showcase how our new HR architecture, comprising five high-impact HR design principles, drives overall organizational performance.
Abolishing Performance Scores: A Practical Guide
Performance Management | 07/09/2014 | This report provides practical, field-tested methods from four organizations that have eliminated performance scores: Adobe, Juniper Networks, Kelly Services, and New York Life.
Talent Management Systems 2014: Solution Provider Comparisons and Profiles
Talent Management Tech | 06/26/2014 | This report reviews the trends in integrated talent management solutions and the solution providers that offer them.
The Market for Talent Management Systems 2014: Talent Optimization for the Global Workforce
Talent Management Tech | 06/26/2014 | This report reviews the market and the market drivers for integrated talent management solutions, referred to as talent management suites—the most rapidly growing area within human capital management (HCM) software today.
The WhatWorks® Awards 2014: Lessons from the Best
HR Strategy & Benchmarking | 05/22/2014 | For the ninth year, the Bersin by Deloitte WhatWorks® Award program recognizes innovation and excellence in critical areas of HR, learning, and talent. This report includes summaries of the submissions for each of the five finalist organizations.
Diversity and Inclusion: A Summary of Our Benchmarking Study and a Preview of Leading Practices
Diversity & Inclusion | 05/21/2014 | This report is a summary of our diversity and inclusion benchmarking study—providing data on the current state of diversity and inclusion, the case for investment, common challenges of diversity and inclusion efforts, and approaches for making an organization more inclusive.
Simply Irresistible: Engaging the 21st Century Workforce
Talent Strategy | 05/07/2014 | From Bersin by Deloitte IMPACT Conference 2014. This keynote presentation by Josh Bersin, styled as a PPT report, discusses how to build the “Irresistible Organization,” and how the concepts of employee engagement and retention have to radically change.
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