1 Recognition’s Role in the New Economy: - PowerPoint Presentation

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Recognition’s Role in the New Economy:A Research-based Discussion

July 2012

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Presenter

Melissa Van Dyke

PresidentThe Incentive Research Foundation

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theIRF.org

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Recognition’s Role in the New Economy:A Research-based Discussion

July 2012

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TODAY

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The What: 6 Trends - Strange New World

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The Velocity of Change is Increasing

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Fall Session

Pulse Studies

Barrier to Growth

Agility

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Budgets Remain Pessimistic

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25% getting better

Spring ‘12

71% Admin

68%

Comm

54% Awards+NonCashR

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Mobile is the New Static

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1.7B x 3

10% natives

1/3 prefer Phone

Brand Alignment

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We’re High Tech and Low Touch

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75% Allow Social Networks

Doubled over 55

Preferred Method

Collaborate

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Game Mechanics Are Everywhere

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2011 Tipping Point70% have 1

50%

Innov

Common Principles

Innovation

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Convergence and Integration is Common

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Technology Convergence – Job Footprint – Overtime – Overemployed

Attrition and Engagement

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SO WHAT?

IMPLICATIONS 13

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Executives are more supportive of non-cash than most realize

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McKinsey: “Get Beyond Money”

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Praise

Leadership Attention

Ability to Lead

Projects

Bonus

Raises

Stock Options

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HBR: Compensation is only Part of the Equation

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Aberdeen: R&R Gets Results

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HIGHER

Quota Attainment

YOY Revenue Growth

YOY Increase in Deal Size

LOWER

Time

to Productivity

Time

to Hire

Best In

Class Orgs Use

R&R 2x

More Than Average

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“Fast HR”

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CEO – HR must changeChange

Mgmnt

not enough

Structure, Process, Tools

Comp not Agile

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Happy to Have a Job is a Myth

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The Myth: “Happy to Have a Job”

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The Most Important Are Leaving

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Who Are They?

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Consulting View:

Engagement/R&R Inextricably Linked21

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Brand Alignment: “We’re All Marketers Now”

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No One Cares….

Cust

Server = Killer App…We are All Marketers

Forum…

Cust. Serv. Focused programs…Link to CMO

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INNOVATION CULTURE

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Rewarder

Organizations

generate ideas 250% more often

“economic conditions neg. impact culture”

“Fear Factor”

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Virtual Distance Requires New Approaches

Celebrate

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SO WHAT?

IMPLICATIONS 26

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SO HOW?

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Salient (Memorable)

Valued (Personal) Performance Contingent

Performance Sensitive

ALL Motivators Have 4 Attributes

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Audience and Outcome Matter

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PIBI Model*

6. Emotion

(It Feels Good Enough)

1. Assessment

(It’s Necessary)

2. Program Design

(It’s Appropriate)

3. Work Value

(It’s Worth It)

4. Training/

Comm

(I/We Can Do It)

5. Support

(It will work)

7. Active Choice/Measurement

(I/We Are Persisting)

8. Performance Improvement

(We did it. It was worth the cost.)

*

Incentives, Motivation and Workforce Performance, www.theIRF.org

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The Landscape

The “new normal” has tested the industry and the agile continue to thrive!

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Questions

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Contact Us

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theIRF.org

Incentive Research

Foundation

@

theIRForg

iPhone & Droid Mobile App

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McKinsey

Global Survey Results. (2011). https://

www.mckinseyquarterly.com/Economic_Studies/Productivity_Performance/Economic_Conditions_Snapshot_December_2011_McKinsey_Global_Survey_results_2905?pagenum=2ihttp://www.hrotoday.com/content/4623/fast-hr

http

://

fastfuture.com/wp-content/uploads/2011/11/Tim-Hancock-and-Rohit-Talwar-Meetings-Sector-in-2012.pdf

IRF

Fall Pulse Survey 2011. The Incentive Research

Foundation. (2011). http://

theirf.org/research/content/6083519/incentiveresearch-foundation-survey-says-economy-impactingincentive-trends/

http

://

meetingsnet.com/corporatemeetingsincentives/incentives_motivation/survey/2012_incentive_survey0104

/

IRF

CMI Study.

Incentive

Research Foundation

. (2011

). http

://

theirf.org/research/content/6074997/2011-irfcmimerchandise-poll

/

The

Use of Awards In Organizations.

The Incentive

Research Foundation. (2011

). http

://theirf.org/research/content/6081797/the-use-ofawards-in-organizations/

http://theirf.org/research/content/6083519/incentiveresearch-foundation-survey-says-economy-impactingincentive-trends/

ITU

World Telecommunication. (2011

).http

://www.itu.int/wsis/tunis/newsroom/stats/

Are

Your Customers Becoming

Digital Junkies

?

McKinsey Quarterly. (2011

). http

://

www.mckinseyquarterly.com/Are_your_customers_becoming_digital_junkies_2839

Bibliography

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How

Internet Standards Will Finally Deliver A Mobile Revolution. McKinsey Quarterly. (2011).

http://www.mckinseyquarterly.com/How_new_Internet standards_will_finally_deliver_a_mobile_revolution_2788

http

://

www.census.gov/prod/cen2010/briefs/c2010br-03.pdf

The

Rise of Generation C: Implications for the World of 2020.

Booz and Co. (March 26, 2010). http://

www.booz.com/global/home/what_we_think/reports_and_white_papers/ic-display/47812404http

://en.wikipedia.org/wiki/Gamification

Guidelines

for Game-Based Learning.

Pivec

,

Maja

, et. al. Pabst Science Publishers, Austria

. (

2004

). http

://www.paulpivec.com/Games_in_Schools.pdf

http

://

hbr.org/2011/06/synthesis-how-games-couldsave-the-world/ar/1

http

://www.gartner.com/it/page.jsp?id=1629214

http

://

www.forbes.com/sites/haydnshaughnessy/2011/11/09/dell-gamification-strategy-are-you-kidding

/Employee Motivation: A Powerful New Model.

Nitin

Nohria

, Boris

Groysberg

, Linda-

Eling

Lee

. Harvard

Business Review

.

(Jul 01, 2008

) http

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hbr.org/product/employee-motivation-apowerful-new-model/an/R0807G-PDF-ENG

Bibliography

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Motivating People: Getting Beyond Money. Martin Dewhurst, Matthew Guthridge, and Elizabeth

Moh. McKinsey Quarterly. (2009 https://www.mckinseyquarterly.com/Motivating_people_Getting_beyond_money_2460Growth Reimagined. 14th Annual Global CEO Survey. PriceWaterhouseCoopers. (2011). http://www.pwc.com/gx/en/ceo-survey/pdf/14thannual-global-ceo-survey.pdf

Self Service on the Rise

. Computer World

(

January, 2012). http://fastfuture.com/?p=437

The Employee or the Company: The Relative Importance of People Versus the Company Brand on the Customer Experience. Mulhern, Frank. http://performanceforum.org/associations/12672/files/Forum_theEmployeeortheCompany.pdf

Despite High Overall Job Satisfaction, Most Will Consider Job Offers. Harris Interactive (March 8, 2011).

http://www.tlnt.com/2011/03/08/survey-74-of-workersare-passive-job-seekers-ready-to-consider-a-move/Nearly 50 Percent of Employees Have Considered Leaving Their Current Jobs.

FierceFinance

. (March 2, 2011). http://www.fiercefinance.com/press-releases/nearly-50-percent-employees-have-considered-leaving-theircurrent-jobs

What Did You Get For Employee Appreciation Day?

Market Tools Blog

.

Koskella

, Jodi. (March 15, 2011). http://www.markettools.com/blog/what-did-you-getfor-employee-appreciation-day

Employees Determined to Find New Jobs This Year.

Jared

Bilski

. CFO Daily. (January 14, 2011). http://www.cfodailynews.com/employees-determinedto-find-new-jobs-this-year/

Survey Finds Sharp Rise in Employee Discontent.

Right Management. (December 13, 2010). http://

www.right.com/news-and-events/pressreleases/2010-press-releases/item20533.aspx

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Bibliography

HRM Management Board. (March 20, 2011). http://www.hrmboard.com/2011-engagementretention-conference-177.html

A Comprehensive Solution for Identifying,Developing, and Assessing Top Talent. The Corporate Leadership Council. (2011). http://www.clcprohighpotential.com/pdf/CLCPro_High_Potential_Brochure.pdfWorkers Agree: Company Culture Matters.

Randstad

Work Watch Survey. (October, 2010). http://us.randstad.com/content/aboutrandstad/newsand-press-releases/pressreleases/2010/20101004005.xml

What Mad Men Gets Right About Innovation.

Harvard Business Review. H. James Wilson. (July 22, 2010). http://blogs.hbr.org/research/2010/07/where-madmen-gets-innovation.html

Herman Trend Alert. (August 2011). http://www.hermangroup.com/alert/archive_8-31-2011.html

The

Future of Meetings: The Case for Face to Face. Duffy, Christine and McEuen

,

MaryBeth

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A Boom in Corporate Profits, A Bust In Jobs, Wages

. Wiseman, Paul. Associated Press. (July 2011). http://www.msnbc.msn.com/id/43860044/ns/businessstocks_and_economy/t/boom-corporate-profits-bustjobs-wages/#.TwKvcNRrOnk

Overstretched. The Economist

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Mobilizing for a Resource Revolution.

Richard Dobbs, Jeremy Oppenheim, and Fraser Thompson. McKinsey Quarterly. (January 2012).

https://

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* Incentives, Motivation and Workforce Performance, www.theIRF.org

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m.vandyke@theIRF.org

MELISSA VAN DYKE is President of the IRF.   Melissa has responsibility for all day-to-day operational, financial and marketing aspects of the   organization. She comes to the IRF from her position as Managing Consultant of the Employee Engagement Practice at Maritz. Prior to this, Melissa held leadership positions in Solution Management, Product Development and Business Technology Solution Management at Maritz. Van Dyke was selected as Incentive magazine’s 2007 “Rising Star in the Incentive Industry” and co-authored the chapter on “Nonmonetary Awards: Experiential, Tangible, and Cash Equivalent Awards” in the fifth edition of the

Compensation Handbook. Before joining Maritz, Van Dyke worked as a Senior Business Process and Technology Consultant for Ernst & Young LLP.

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