Page 29 - PWM2024_February

BETTER BUSINESS

that are engaged. Sweeney says that process post rollout. On this
the simplest way to do this is to Goldgrub would want to ask a num-
divide the budget by the number of ber of questions: “What is the user
people on staff. experience like (desktop and
Step three is the rewards them- mobile)? Is it fun to use? Does it give
selves – financial and non-financial. analytics that show that it’s meeting
Turning to cash bonuses first, business objectives? If it has reward
Sweeney says that they can sound options, are they instantly available?
simple but quickly become expen- And, for global concerns, does it
sive. “For example, if you awarded support international currency
£100 one year as a bonus, then your requirements?”
team is likely to expect the same, or
more, next year. While this The importance of fairness
approach might suit some, it’s Just as well-run businesses often
unlikely to drive the type of long- seek employee involvement in cer-
lasting positive sentiment employ- tain business decisions, so they
ers are after.” Further, cash rewards should involve staff in rewards and
get lost and get spent on trivial pur- recognition schemes and communi-
chases. The alternative, non-cash cate as such.
rewards, are she points out, “easier
to manage”. Vouchers and gift cards And Cotton explains why: “The
offer discounts on a wide variety of benefits offered to employees often
brands and restaurants, giving all a depend on their grade, location or
great deal of flexibility. occupation. Many organisations, for
And Novick echoes Sweeney’s example, provide a company car,
principles: “People will become either because the job requires it (a
accustomed to rewards, so you have sales rep) or to recognise the job’s
to shake them up. A lot of larger status (a director). However, it’s
organisations pay bonuses based on important that benefits are fair, and
basic salary. But bonuses are made are perceived as such, otherwise the
up of so many different elements programme’s purpose is under-
that people historically can get mined. Employers need to explain
of a gift on someone’s birthday. Similarly, loyalty doesn’t follow because of between 20% to 50% this way but the different benefits available and
be able to justify them.” He thinks it
performance-based rewards. For Goldgrub, reward and recognition they have no real control over what helpful if firms have a “definition of
should go hand in hand with organisational values. In her experience, “the they actually get.” On top of this,
most successful recognition strategies tend to be those that show appreci- they then want to know why they fairness” that can be used to make
ation for behaviours that align with organisational values”. Doing this didn’t get a bonus (because they’ve pay decisions; in accordance with
brings a firm’s values to life and demonstrates to employees how they can had one for eons) or have no idea this, he says that “line managers
show those core values through their work. what, specifically, they did to earn should invite feedback from their
To this Novick adds that schemes need to be role or function specific as it. team regarding their treatment, and
opposed to being based on individual jobs or company wide. She explains The last step is a rollout. Here the company can ask for employee
that “there is no point incentivising or recognising commonality of behav- Sweeney says rewards can be feedback through anonymous sur-
iour across all functions as they all have different contributions to make”. dropped on desks, announced at veys, polls, or through employee or
In her ideal world, she’d identify key positive traits of each function and team meetings, added to the payroll, union representatives”. On top of
reward accordingly so that for operations she’d look at efficiencies, if it’s sent via email or post, or uploaded this, there should checks on
customer service she’d examine customer satisfaction, and if its sales she’s to a rewards portal. However, she whether people doing similar jobs
look for a profitability increase or repeat sales. In simple terms, she says, warns that launching a scheme isn’t are getting similar rewards and if
“break it down to an idiot’s guide and reward that behaviour, step by step, not, whether there is an explanation
on a smaller basis so that people can continually get into the habit of the end of the process: “It’s impor- for this and if it is justified.
achieving”. tant to check in with people to get
Beyond that, Goldgrub would want to know what employees want from their views of the scheme and how it In summary, businesses are based
a scheme. As she says, “the best way to create a well-rounded and engaging could be improved. There’s no point on people and with the right pro-
reward and recognition scheme is to first find out what your employees going to all the effort of setting up a gramme, employers can both please
want”. The results, she suggests, might surprise – “your people might rewards scheme if your people staff with incentives and improve
want to retain traditional-style rewards like long service awards but also aren’t going to use it.” business performance. But putting
want in-the-moment recognition to keep them motivated day-to-day”. It also shouldn’t be forgotten that in place a rewards programme isn’t
Next comes budget; this determines what is delivered and the partners technology has a role to play in the simple and takes thought.

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