1992 News

1. 1992 News Unemployment at 7.1% highest in 5 years Big 3 car makers report record loses Dow high 3,413 New home cost $144,000 Gallon of gas - $1.13 Gallon of milk $2.78 Ice breaker Everything old is new again - Ice breaker Everything old is new again -

2. Retention Rewards & Recognition Why it�s Important It�s important for Retention, Productivity and also InnovationIt�s important for Retention, Productivity and also Innovation

3. Agenda Retention Recognition Reward Programs Q& A

4. Retention Employees don�t leave the job they leave their Supervisor. As the economy improves, 83% of employees indicate they plan to look for a new job; Source: SHRM Perceived lack of recognition of their skills 79% of employees who quit their jobs cite "lack of appreciation" as the #1 reason for leaving. Source: Jackson Organization 83% is a really high and I�m sure at your location it might be lower. But what would you do if 20 � 30 % of your staff and your highest performers walked out the door and the reason was because they did not feel they mattered to your organization. When your high performers leave they take with them their training, skills and experience and knowledge. 83% is a really high and I�m sure at your location it might be lower. But what would you do if 20 � 30 % of your staff and your highest performers walked out the door and the reason was because they did not feel they mattered to your organization. When your high performers leave they take with them their training, skills and experience and knowledge.

5. Retention Cost of recruitment If a new recruit leaves, just when they are productive, it takes 12 -18 months to get a new hire up to the same level Don�t wait until staff is walking out the door to let them know they are valued Costs vary by company, but it might take up to a years salary to get a new employee trained and productive. Costs vary by company, but it might take up to a years salary to get a new employee trained and productive.

6. What�s your Attitude Sound familiar? If so you need to get a new attitude. Employees are becoming or are free agents, especially your Most talented employee and they can work for whom ever they please and are in demand. Sound familiar? If so you need to get a new attitude. Employees are becoming or are free agents, especially your Most talented employee and they can work for whom ever they please and are in demand.

7. Retention We need people who are really passionate about your company (Supervisor) We need people so pleased with the company they tell everyone they know about what a great company they work for. we need staff who don�t just tolerate work, but are passionate about the company, and that�s you the supervisor What can we do to drive that passion, Recognition! we need staff who don�t just tolerate work, but are passionate about the company, and that�s you the supervisor What can we do to drive that passion, Recognition!

8. VSP Employee Survey 2009 Survey results 92% Over 2,100 employees participated in the survey VSP averaged in the 80 percentile compared with other similar organizations Key questions My supervisor treats me with respect 86th What I do is important to the overall success of the company 88th VSP�s 2009 engagement survey to measure loyalty dedication and commitment . An engaged employee is enthusiastic about their work and accountable for their role. VSP ranked 30 percentage points above the norm VSP�s 2009 engagement survey to measure loyalty dedication and commitment . An engaged employee is enthusiastic about their work and accountable for their role. VSP ranked 30 percentage points above the norm

9. Recognition is a basic need Maslow�s hierarchy of needs Self actualization Esteem Love /Belonging Safety Physiological The need to be recognized is a basic need we all have. The need to be recognized is a basic need we all have.

10. Recognition Everyone needs respect to be successful Engage ALL staff 90% improve performance after being praised. Source: J.Pfeffer, Stanford School of Business Treat everyone as if their contribution is valuable and they are important 30% of employees improve performance after being criticized But 90% improved after being praised! Treat everyone as if their contribution is valuable and they are important 30% of employees improve performance after being criticized But 90% improved after being praised!

11. Recognition Focus on successes & strengths Communicate to your employees the exceptional job they are doing The preferred form of recognition at the workplace is verbal recognition 42%.� Source OfficeArrow survey Ask your employees to focus on their strengths and things they do well. Believe me it does spill over into other areas that may need attention. It might also take working with the employee to find the right job fit Remember everyone wants to be successful and everyone wants to be Recognized Ask your employees to focus on their strengths and things they do well. Believe me it does spill over into other areas that may need attention. It might also take working with the employee to find the right job fit Remember everyone wants to be successful and everyone wants to be Recognized

12. Recognition A reward program should be part of your strategic goals or company values You role as a manager Understand how to improve the frequency, quality and the alignment of recognition with your company and/or department goals Question what programs do you have at your company? Question what programs do you have at your company?

13. Recognition Recognition = Higher productivity! A Gallup study of nearly 5 million employees revealed that an increase in recognition and praise in an organization can lead to higher engagement, lower turnover, higher loyalty and satisfaction scores. Remember that 90% improve performance after being praised. Source: J.Pfeffer, Stanford School of Business Remember that 90% improve performance after being praised. Source: J.Pfeffer, Stanford School of Business

14. Recognition should be Specific Timely Personal Frequent Specific to recognize the behaviors you want to see repeated Timely catch employees doing something right and acknowledge it on the spot Formal recognize can be done later Personal � the way your employee wants to be recognized � find out something about your employees Frequent � Optimal once every 7 days � it shows your effort and commitment to your employee success Specific to recognize the behaviors you want to see repeated Timely catch employees doing something right and acknowledge it on the spot Formal recognize can be done later Personal � the way your employee wants to be recognized � find out something about your employees Frequent � Optimal once every 7 days � it shows your effort and commitment to your employee success

15. Recognition Decide how often and what type Do I have a clear understanding of what motives each employee Do I recognize employees for significant accomplishments Do I seek opportunities to recognize employees for the little things I tell employees the specific reason for the recognition I make it personal I do it as soon as possible Ask your self some questions Ask your self some questions

16. Recognition Try Verbal recognition once every 7 days per employee Acknowledgement Thank You I appreciate your help with ---- Great job on -- In place of having an employee of the month have an employee of the momentIn place of having an employee of the month have an employee of the moment

17. Reward Examples - Cards

18. Reward Examples � Mentoring Value of Mentoring Offer a Mentor Program, because research strongly affirms that mentored individuals: Perform better on the job; Grow more rapidly within the organization; Report more job and career satisfaction; Express less desire to leave the organization than non-mentored counterparts; and Frequently become mentors themselves, ever widening the circle of benefits.

19. Reward Examples - Partnering The Partnering for Success Program gives employees an opportunity to recognize a co-worker within the IT division for successfully partnering with an internal or external business partner. Characteristics of Partnership Trust Added Value Commitment Effective Communication Common Objectives

20. TAC Rewards TAC Newsletter http://tacatvsp.wordpress.com/ Quarterly Team lunches Team Building events Lunch with Manager or Director You�ve Been Recognized! Goodie Drawer

21. You�ve been recognized cards I have these on my desk in front of me as a reminderI have these on my desk in front of me as a reminder

22. I conducted a survey at TAC with some general question about how people would like to be recognized. Overall about � the team did same verbal recognition was important to them. I conducted a survey at TAC with some general question about how people would like to be recognized. Overall about � the team did same verbal recognition was important to them.

23. Recognition Does it really make a difference? Yes and here�s why You will have Engaged High Performing and Productive employees What can you do at low or no costs? Create a culture of appreciation By creating that culture of appreciation you contribute to the success of your employees and Your companyBy creating that culture of appreciation you contribute to the success of your employees and Your company

24. Wrap Up Review Questions 3 minutes of motivation http://www.youtube.com/watch?v=q5kn4OBRxro&feature=related We have talked about retention and the cost and time it takes to replace a high performing employee. We have discussed recognition and the basic need of everyone to be recognized. Also remember you don�t have to have a budget to be personal and say thank you. We have talked about retention and the cost and time it takes to replace a high performing employee. We have discussed recognition and the basic need of everyone to be recognized. Also remember you don�t have to have a budget to be personal and say thank you.

25. Sources of information http://www.keepem.com/ResourcesArticles.asp