While there are several components to a successful employee engagement initiative, such as frequent staff surveys and strong relationships between employees and management, those will not have much impact unless employees feel valued. This is where a well thought out reward and recognition program comes in.
What is the 1% Rule?
You might feel overwhelmed when trying to determine what you should spend on your reward program. How will you know if it will pay off? When setting your budget, consider following the 1% rule. Studies show that organizations that dedicate at least 1% (or more) of payroll to values-based recognition programs see a strong return on investment.
Currently, about half of employees are not satisfied with the recognition they receive at work. It’s critical that you take steps to formalize a recognition and reward program to foster engagement. Here are some tips to get you started.
Consider your organizational goals.
If you’ll be incentivizing employees for certain actions or behaviors, make sure they coincide with the overall objectives of your organization. Trying to reduce overtime? Reward those who punch in and out at the right times. If call outs are a problem, reward those who consistently show up for their shifts. Also, look out for employees who go above and beyond in caring for residents or who exemplify teamwork and make sure to recognize their efforts.
Be consistent and timely.
When creating your rewards program, it’s important to understand that consistency is key. Rewards programs that are not well adopted, are applied differently by different departments or are tracked manually can be inconsistent and then backfire, leading to dissatisfaction. Be specific about what employees will be rewarded for and don’t let too much time pass between the action and the reward.
Pick the right rewards.
Tailor recognition to the employee. This will require that you know a few things about your employees and how they like to be rewarded. For some, it’s a gas card, for others it might be an extra day of PTO.
For organizations that simply can’t spare the extra costs associated with giving gift cards or cash, keep in mind that rewards don’t always have to be monetary. Find ways to let staff know you appreciate them on a regular basis in a text or email, or in person during their shift. It’s also important to congratulate jobs well done and highlight good work at employee meetings. Public recognition boosts morale for all employees.
Implement the right technology.
Technology can ensure consistency and allow you to systematize your program. A platform that allows employees to earn points, and see where they stand compared to others almost guarantees adoption and participation.
Offering incentives to your employees can have multiple positive effects. Rewards encourage employees to look out for opportunities to go above and beyond. Properly designed rewards programs can also drive behavior that aligns with organizational goals. Ultimately, you’ll see employees who are more engaged, which results in higher quality care for your residents and improved outcomes for your senior care organization.