Spring is upon us, and that means it’s time once again to attend the annual WorldatWork Total Rewards Conference, being held in Minneapolis, MN May 18-20. The theme for this year’s conference is “Grow”, as in growing ideas, inspiration, and innovation. Naturally many of the sessions focus on creating a work environment that is ready for the future, covering many of the topics we love; including extrinsic vs. intrinsic motivation, the benefits of flexibility in the workplace, and building a total rewards culture.
The Future of Work
Although the future of work is a highly contested topic, 2015 may very well become the year of the employee – Rewards, compensation, and work-life balance are the dominant buzzwords in a rebounding economy, and modern employees expect more commitment and trust from employers. Back in March we were lucky enough to outline the four ingredients of the “Recipe for Recognition Success” for WorldatWork in an article featured in Workspan, their trade publication:
- Give Kudos Early On: Providing a form of meaningful service recognition early at the one-year or three-year mark helps to get employees on board with the recognition culture quickly. The early show of appreciation demonstrates to the employee that the organization is committed to his/her professional growth and overall well-being. This is an especially important motivator for Millennials.
- Go Beyond Tangible Rewards: For employees, positive verbal or written words of appreciation for reaching a goal or service anniversary often resonate the most. Tangible rewards are helpful but employees also need to know that their work is respected through regular formal and informal verbal feedback. This type of communication can easily be added to an overall program without raising the scope of the program’s budget.
- Involve Senior Leaders & Train Managers: Recognition programs are most successful when senior leaders believe in the initiatives and the recognition culture, and are willing to step in and be a mouthpiece for communicating the importance of the program. Managers also need to be invested in the recognition philosophy. A big misconception in recognition is that managers are automatically qualified to give recognition by virtue of being managers, but this isn’t always the case, as 58 percent of managers receive no training at all.
- Recognition Must Be Meaningful: In the end, recognition is effective when it’s meaningful, engages employees on a personal level and ties back to an employer’s core values and culture. A deep level of personalization should be taken into account when designing and implementing recognition programs so initiatives are successful in building long-lasting connections with employees.
See You There
There’s much more to learn at this year’s Total Rewards conference. Be sure to take advantage of WorldatWork’s event schedule to plan your trip from the dozens of topics and guest speakers available. If you’d like to learn more about creating a winning recognition strategy, drop by and visit us at Booth 441.