Page 28 - PWM2024_February

BETTER BUSINESS

Reward and

prosper

Incentive programmes are common practice for
improving performance, but how successful they
are will depend on how much thought goes into
their setup, by Adam Bernstein

ash may be king but as a correctly, it can help to attract,
long-term motivator it retain and engage employees. But it
has limited value; can do more for “an organisation’s
employees either get used objectives and legal obligations as
to the amount they’re well as the needs of its employees –
Cpaid or resent the amount it can enhance a company’s reputa-
lost to tax. tion as an employer of choice and
In truth, to properly motivate help it communicate better its
staff firms require systems that rec- employee value proposition”.
ognise and reward. The fact that He bases his view on the contents
employee recognition is so impor- of the CIPD’s 2018 Reward manage-
tant should be obvious for all to see; ment survey.
countless firms have boards in the Lauren Goldgrub, general man-
public domain that detail ‘employee ager of OneHub Recognition –
of the month’. And they do this Benefex, thinks along the same lines
because they’ve understood that as Sweeney and Cotton. For her it’s
workers want not just money, but all about outcomes: “Successful rec-
recognition amongst their peers for ognition programmes have a huge
outstanding work and service. impact on loyalty, motivation and For Novick, it’s not about only rewarding the end-result “as schemes
engagement.” She’s very firm in her
The point of a rewards pro- belief that “whatever form rewards don’t always take into account all of the steps that need to happen to get
gramme to the end goal”. She points to sales as an example – here she advises
come in – peer-to-peer or manage-
According to Lauren Sweeney, ment-driven, personal email or against rewarding on turnover because profitability gets missed. She,
head of people at Virgin Incentives Total Reward Statement, globally instead, would reward on, say, speed of response, customer queries
and Virgin Experience Days, happy enabled or simply acknowledging an resolved, reduction in customer complaints – all of which will ultimately
employees who can grow within a employee of the month – there’s a result in increased sales.
business should be the aim of any proven link between recognition, Novick’s thoughts aside, Sweeney quotes a Virgin Incentives whitepa-
HR team for if nothing else, “high employee wellbeing and strong per that surveyed 2,000 workers across the UK: “It found that 22% had
staff turnover not only slows busi- employer brands”. never received a reward from their employer. No birthday gifts, no extra
ness growth and costs businesses But with a slight twist comes Dani days off, no Christmas hampers or boxes of chocolates. Nothing.” That
money on recruitment and training, Novick, managing director of for her is worrying.
it also stunts company culture due Mercury Search & Selection. She But what seems to gall her most is that, as she says, “rewards don’t have
to the continual change of person- thinks that the phrase ‘reward pro- to be expensive, challenging or complicated. They just have to be worth-
nel”. gramme’ is wrong “because any while, thoughtful and ultimately make the workplace as attractive as pos-
In her view, a solid rewards pro- incentive programme should be sible”. More on this later.
gramme helps attract and retain tal- there to motivate, engage and then
ent. reward people”. She says it’s about Creating a programme to recognise and reward
And Charles Cotton, senior getting the incentivisation and Setting up a recognition programme from scratch requires planning
reward and performance adviser at engagement right. To her mind, and Sweeney says that “you need to define your objectives and consider
the CIPD agrees, but says that a they’re not for use in team building your reasons for starting a reward and recognition scheme as this will
reward policy should be strategic but would work as a sales incentive impact what you offer”. This, she says, can include a wide range of busi-
and “support an organisation to which is part of “an overall incentive ness goals, such as reducing staff turnover, driving sales and changing the
reach its long-term business goals”. for sales to continually contribute to company culture.
He too thinks that if implemented the success of the company”. Of course, rewards must be used strategically. Sales won’t rise because

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