On Thursday 11th May 2017 we hosted a breakfast event looking at how employers can build an effective employee recognition platform. More and more of the organisations that we work with are implementing employee recognition schemes, so this was a topic close to our hearts at Xexec and we weren’t surprised to have such a full house. Attendees included HR representatives from some of the major players in financial and professional services, the retail and food industries and a government department.
Speaking at the event were Jamie King, Director of Global Rewards at Xexec and Martin Todd, Head of Reward and Policy at Grant Thornton.
Jamie King discussed the challenges posed by the modern workforce. From millenials pushing forward a change in attitudes towards things such as flexible working, work life balance and, indeed, recognition, to older generations that are working for longer than ever, HR professionals must tailor their employee recognition strategies to an increasingly diverse set of priorities and motivations. At the same time, HR teams have access to a plethora of tools to foster better employee recognition in the workplace, from social recognition platforms, to well known initiatives such as long service awards. Jamie discussed the challenge of choosing the approach most suitable to your workforce and employers being tactical about tools they choose to utilise. Having an app for everything, for example, may seem like good idea, however could end up being overkill.
Martin Todd shared his experience of implementing a reward and recognition portal at Grant Thornton, one of the world’s largest professional services businesses. He talked through the launch of their ‘3 Cheers’ platform with Xexec, focusing on the importance of not making employee recognition solely about performance, striking the right balance between financial and non-financial awards and some of the challenges that he had overcome around issues such as budgeting, fairness and engagement. Of particular interest were Martin’s views on the effectiveness of relatively low value awards (given Grant Thornton’s often highly qualified, well-paid workforce) such as their High Five award, which has a monetary value of £10. In his experience, the message that such awards sent to employees was much more important than the monetary value.
If you’d like to read more about what was discussed on the day, keep an eye out for our upcoming White Paper.