Civil right leader Martin Luther King Jr. said it well: “You can buy a man’s time, you can buy a man’s physical presence at a certain place, you can even buy a measured number of skilled muscular motions per hour or day. But you cannot buy enthusiasm, you cannot buy initiative, you cannot buy loyalty; you cannot buy the devotion of hearts, minds, and souls.”
You have to earn staff members’ enthusiasm, loyalty and devotion.
Money won’t buy staff members’ commitment and devotion. Money won’t boost morale, increase engagement or reduce turnover. All of which makes cash a poor staff recognition tool.
Given a choice, most staff would prefer receiving a simple gesture of appreciation, delivered in words or via a small item chosen with thoughtfulness. A survey by the Incentive Marketing Association found that 65 per cent of respondents preferred receiving a gift to receiving cash.
Why is cash such an ineffective way to recognize staff?
Cash seems to assign a value on a staff member’s extra effort, and often the amount devalues the staff member and their contributions: “Is that all I am worth?”
On the other hand, a gift—particularly a carefully chosen gift—has greater value than what the giver paid for the gift. In other words, a $50 gift is worth more to the recipient than $50 in cash.
Why is that?
Because cash has no trophy value. Once received, money is soon gone. The recipient is left with little to show for the expression of appreciation that may have come as a reward.
A survey by the American Express Incentive Services found that 30 per cent of workers who received a bonus used the cash to pay bills. Another 20 per cent couldn’t remember how they spent the money and 10 per cent couldn’t even recall having received the bonus.
Few reported that they spent the money to do something special, to buy a gift for someone or to purchase something special for themselves.
Simple, inexpensive tokens and expressions of appreciation work when they are chosen with the interests of the individual in mind. When a token item is Appropriate, people remember receiving it, why they received it and from whom they received it.
The way to earn the enthusiasm, loyalty and devotion of staff is with simple, inexpensive staff recognition that is GREAT (Genuine, Relevant, Explicit, Appropriate and Time).
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Invite Nelson to lead a half- or full-day workshop for your leadership team to identify simple, inexpensive ways to boost morale, increase engagement and improve retention. Contact him to schedule a staff recognition workshop or to learn more (nmscott@telus.net or 780-232-3828) or visit http://www.greatstaffrecognition.com/presentations/index.htm.
Program Descriptions
Improve Staff Retention Without Spending Buckets of Money
Even if more money was the key to retaining staff—and it isn’t—most organizations could not afford to pay more to reduce staff turnover. What people want most from their jobs is to know that their boss cares about them and values them for their contributions and achievements. The real answer lies in simple, low-cost techniques that let employees know they are valued and appreciated for what they do and achieve. http://www.greatstaffrecognition.com/presentations/improve.htm
Staff Recognition: One Piece at a Time
Providing staff recognition is like putting together a simple jigsaw puzzle: easy enough that a young child could do it. Yet the results are so powerful that all leaders should think about the five components of staff recognition every day. To be most meaningful to the recipient, recognition has to be GREAT: It must be Genuine, and it should also be Relevant, Explicit, Appropriate and Timely. As each piece is fitted into the puzzle, the picture of gratitude becomes more complete and the message of appreciation grows stronger. http://www.greatstaffrecognition.com/presentations/onepiece.htm