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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 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.
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.
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 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.
Transparent Succession Management: Building a Culture That Fosters Open Dialogue about Talent
Succession Management | 04/22/2014 | In this report, we share findings based on discussions with numerous organizations regarding the importance, benefits, and challenges of creating a more transparent culture as it relates to succession management, as well as tips for increasing transparency.
The Diversity and Inclusion Primer: An Introduction
Diversity & Inclusion | 03/31/2014 | This report is designed for those new to diversity and inclusion, be they HR, business, or new diversity and inclusion leaders, and covers relevant definitions and historical developments in the diversity and inclusion field.
The Diversity and Inclusion Framework: A Guide to Transforming Organizations
Diversity & Inclusion | 03/31/2014 | This report describes the Bersin by Deloitte Diversity and Inclusion Framework, which discusses designing a diversity and inclusion strategy, governance and management of a diversity and inclusion function, and designing and implementing diversity and inclusion solutions.
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