Rocket Booster to Career Development
"It is a rocket-booster to career development," Sikora explains.
The company tracks the ROI of its HR programs in multiple ways, including with such typical metrics as employee turnover and new hire stay rates. For programs like LIFE, Seco Tools tracks the costs avoided or reduced for each implementation.
"Another financial one I keep a close eye on is productivity. Reason being, if you truly believe that engagement drives motivation, then people are more productive," Sikora says, while acknowledging that external factors also influence this metric. Nevertheless, "I believe it has enough of an influence that I track it and use it as an indicator of success."
For companies trying to improve or implement their own reward and recognition programs, Bersin & Associates offers these suggestions:
- Set the tone for recognition with senior leaders and clear goals.
- Develop clear recognition criteria.
- Use technology; it boosts performance. Bersin by Deloitte suggests IT aids performance because it makes recognition more accessible to employees, can adapt to changing business needs and enables more frequent recognition.
- Make recognition a multifront offensive.
- Provide recognition that employees value.
"It is all about execution," adds Seco Tools' Sikora. Managers must support the programs and not simply see it as something to "check off" as done. Citing the LIFE program, he notes that every person who generates an idea receives a response. "It dies unless you have the discipline to provide feedback."
