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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.
High-Impact Performance Management: Using Goals to Focus the 21st-Century Workforce
Performance Management | 12/16/2014 | This study reviews the current state of goal-setting, three new goal-setting and management principles, and seven associated leading practices.
High-Impact Succession Management: Key Findings and Maturity Model
Succession Management | 11/12/2014 | This report is the first in a three-part series. It is intended to provide an introduction to our Succession Management Maturity Model and articulate the leading practices of effective succession management.
Wooing the Workforce: Creating an Employee-Centric Organization
Engagement | 09/23/2014 | This research bulletin describes how organizations such as Texas Roadhouse, Camden Property Trust, and Ultimate Software are using employee-centric strategies to grow their businesses, differentiating themselves as an employer of choice by treating their employees much the same the way they treat their customers.
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.
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