Leaders everywhere are realizing just how dramatic a change an effective employee rewards or recognition system can make, but what’s missing is the action. So many companies we talk to see the obvious need to show their employees that they are valued, but they don’t know where to go from there. What’s missing is the action Reality Check Let’s put that into perspective; this stat means that 88% of current recognition efforts are irrelevant and therefore ineffective. That’s a very eye-opening number. We see here that there is a clear disconnect between what organization leaders believe employees want, and what employees actually want. of employees agree that they are consistently Recognized in ways that are important to them.12% So that’s just about everyone right? It’s vital to realize that what motivates one employee, could be totally irrelevant to another. Your workforce is diverse, as are their motivators, as should your recognition efforts be. Figuring It Out... 99.4% of today’s workforce expect to be recognized when they do good work.

1. Leaders everywhere are realizing just
how dramatic a change an effective
employee rewards or recognition system
can make, but what’s missing is the
action.
So many companies we talk to see the
obvious need to show their employees
that they are valued, but they don’t
know where to go from there.
What’s
missing is
the actionEffective Ways to
Reward Employees

2. Reality Check
Let’s put that into perspective; this stat means that
88% of current recognition efforts are irrelevant and
therefore ineffective.
That’s a very eye-opening number. We see here that there
is a clear disconnect between what organization leaders
believe employees want, and what
employees actually want.
of employees agree that they are consistently
Recognized in ways that are important to them.12%

3. So that’s just about everyone right?
It’s vital to realize that what motivates one employee, could be totally irrelevant
to another. Your workforce is diverse, as are their motivators, as should your
recognition efforts be.
Figuring It Out...
99.4% of today’s workforce expect
to be recognized
when they do good work.

4. When mapping out incentives or reward tactics, it is
important to recognize the differences in the three
generations that your workforce is comprised of,
and their differences.
Motivating the
Generations
Millennials, Gen-X and Boomers have
distinct macro motivators that
leaders would do well to recognize.

5. Millenials (or Gen-Y)
Born between 1981 and 1995
They need direction,
feedback, praise and social
interaction from their
workplace and managers.
They crave informal and fun
work environments. They also
highly value learning and
development opportunities.

6. Offering days off, flex-work or work from home
options gives this generation the work-life
balance that they need to be satisfied.
Gen-X
Born between 1964 and 1981
It’s all about BALANCE
for these folks.

7. They make up the
largest portion of
today’s workforce, and
their motivators are
very different.
Pamper them, but give
them the opportunity to
explore new
professional avenues
and skills. They still love
a good adventure.
Baby Boomers
Born between 1946 and 1963
BOOMERS WANT
PAY, TITLES
RECOGNITION

8. The one constant among all three of these generations is their need to feel
valued and appreciated at work. Feedback, gratitude, inclusion and respect
are all standards when it comes to rewarding employees, getting them
motived and engaged.
There’s One Constant
Did you know that the most popular and effective method of recognition in the
workplace consists of praise from management, attention from leaders and
acknowledgement from peers? These types of recognition are often prized above
monetary rewards in most studies.
GEN Y GEN X BOOMERS
Feedback Gratitude Inclusion Respect

9. Well, let’s start out by establishing that “thank you” is
totally free and effective, but you’ll need more. So What’s This Gonna Cost?
Are you surprised?
Most of the clients we work with don’t realize how cost effective a rewards or
recognition program can be.
We will more often than not, see very positive returns on investment in rewarding
employees through productivity, engagement and discretionary effort.
$$$ Financial
rewards typically cost the organization
$$$ Non-financial
rewards typically range from free to
4%of an employee’s
salary.
5-6% of an employee’s
salary.

10. Offering options ensures that everyone
actually gets what they want. Offering
“motivators” that your employees don’t
value, is a huge waste of time and can
actually devalue your employees. Give them
a wide range of choices in a wide range of
categories.
GET CREATIVE
with your incentives
and rewards!
Cover Your Bases

11. How About Some Help with
Reward Program Ideas?
When creating and defining awards, take note
of your team’s strengths and weaknesses and
base the categories off of that knowledge.
This will ensure that the areas you are weakest
in will get attention, and the areas you’re
strongest in, will continue to be celebrated.

12. Peer-to-Peer, Experiential Incentives, Wellness and Work-Life Balance,
Community, Low or No Cost Awards and Medium-High Cost Rewards.
We are chalked full of ideas for each one of these categories.
Head over to the website for idea, after idea of creative and relevant rewards.
What About Different
Types of Rewards?

13. While it’s not the only factor that keeps
employees where they are, offering a variety
of benefits is crucial in effective rewards
systems.
Focus on benefits like:
Development Programs, Comprehensive
Benefits, Competitive Compensation and even
Non-Cash Rewards.
Don’t Forget the Benefits! EMPLOYEES
STAY AT A
JOB FOR THE
BENEFITS.
6/10

14. After we’ve thrown all this info
about effective rewards at you, it’s
important to reveal that the best,
most accurate way to find out
what your workforce wants in a
rewards program is to…
(drum roll please)
ASK THEM!
It’s true; finding out what is most
important to your workers can be as
easy as soliciting that information
directly from them.
The days of one-size-fits-all rewards
programs are over. Employers are
having to get extremely competitive
with their attraction and retention
efforts. Take action and find out what
your workforce wants today.
Do You Know What Your
Workforce Wants?

15. That’s What We Do!
Herd Wisdom has taken the antiquated, annual employee survey and found a better
way to gauge engagement, collect honest feedback and present the information to
leaders in a way that makes it actionable and timely.
We have found that monthly, or even weekly, short, gamified surveys are far more
effective than the yearly surveys of corporate past. Employees can take surveys as a
team or individual and earn rewards like charitable donations, gift cards and more.
Find out what makes Herd Wisdom different today!
Visit www.herdwisdom.com