06 Oct Why do you have an employee recognition program? – October 2017 Newsletter
We’re tackling a tough topic in this month’s Mammoth Myth: Is employee recognition just for boosting morale?
Can any ROI be tangibly achieved?
You may know the answers, but do you know why and (more importantly) how?
We’re going to peel that onion’s layers back, expose some answers, and provide some helpful guidance.
No matter your level of experience as a leader or as someone in charge of running a recognition program, you will certainly find some helpful nuggets.
“Employee recognition & awards have no ROI and are mainly for boosting morale.”
Myth! Measurable ROI is absolutely attainable. Of course recognition programs boost morale. But they can do so much more – and they’ll need to if your higher-ups are going to continue allowing you to invest in them.
The good news? You do not have to choose between ROI and morale. You can (and should) accomplish both!
Just ask our client, Porshia, at Target in Miami Gardens, FL. Her low-volume store had the LEAST amount of transactions but managed to win their district’s competition with the MOST Redcard signups! (Target’s credit card)
So how did their low-volume store pull off the big win? By utilizing a monthly Redcard Champion award.
Direct and trackable ROI achieved. Myth busted.
Porshia painted a clear target (pun intended) for her team to hit and regularly celebrated the individuals carrying the torch.
And though only 12 employees won the monthly award throughout the year, their ENTIRE STORE won the competition and got recognized by their district!
Do you think that provided a morale boost for their team in addition to the ROI from all those Redcards? Sweet. Nectar.
So there you have it. You CAN have your recognition program and eat it too! Or…something like that.
Here’s our final takeaway from The 15 Invaluable Laws of Growth by John Maxwell, which we are finishing reading in our all-company book club this week.
#1 takeaway for October: Focus on increasing your capacity, and you will grow exponentially.
Here’s how: Stop thinking about IF you can and start thinking about HOW you can. Work smarter (not harder) by thinking about WHAT works instead of MORE work.
“Never mistake activity for achievement.” —John Wooden
“Formal education will make you a living. Self-education will make you a fortune.”
October happenings for every industry to prepare your team for this month: