The Many Roles of Recognition Providers
Incentives, rewards, and recognition are changing rapidly. Over the past decade there has been a great deal of research, surveys, and data published about incentive, recognition and reward programs. That’s why we’re pleased to sponsor a new research report from TLNT titled The Role Incentives, Rewards, and Recognition Programs Have in Today’s Performance Management. The report pulls together much of the top insights and strategies that have emerged as best practices in the field.
Evolution of Incentive, Rewards and Recognition
More and more, recognition systems must be agile and adaptable to all aspects of performance management, employee experience, and satisfaction. Recognition providers have grown from vendors to full-on strategic partners. Advancements in HR software have evolved IRR programs into companywide communication tools that allow organizations – even those with large or disconnected workforces – to consistently transmit their values, goals, and gratitude.
It’s not just technology or the role of IRR providers that’s changing. Our entire approach to how we appreciate employees, not to mention the meaning of “work” itself, are in the process of being redefined. As TLNT’s research shows, AI and machine learning are poised to shake up the status quo in ways that are difficult to predict.
In a rapidly changing landscape, the best strategy is to become more flexible and amenable to change. That’s why modern providers like HALO are shifting toward more holistic programs and away from piecemeal app-based solutions. Centralized, customizable IRR platforms have fewer limitations and can be updated on-the-fly as strategies and goals evolve.
No surprise, TLNT finds ample evidence that cash incentives are not great at long-term motivation. Employees may show up for the paycheck, but they stick around for the culture and how they are treated by their colleagues. Holistic IRR providers give organizations the tech to influence all aspects of the employee experience. Beyond technology they offer strategic partnership and consultation to help managers and leaders develop culture organically.
Unfortunately, there may never be a “killer app” for employee motivation. There are a multitude of aspects that influence job satisfaction, and technology can only hasten human interaction, never replace it. Strong organic cultures are essentially future-proof because employees find satisfaction in them beyond the technology and beyond the paycheck. The tech you use to build that culture is only as good as the ground-level strategy and daily effort behind it.
The TLNT report collates the best research in the industry to make a strong case for strategy-based partnerships in recognition and is helpful to keep close by for a quick reference.
Download the entire report: