Turning Thank You into Performance

Effective recognition programs can make a big difference to the metrics that organizations care about. Specifically, Voluntary turnover rates. Annual voluntary turnover rate is defined as the rate at which employees enter and willingly leave a company in a given fiscal year. Annual voluntary turnover rate, is a ratio of number of voluntary separations during the year by the average number of employees during the year. A research by Bersin & Associates, a talent management and HR advisory firm (recently acquired by Deloitte) talks about the effectiveness of these recognition programs. The study reveals that companies that provide ample employee recognition have 31% lower voluntary turnover rates than companies that don’t. This is a good sign that those employees are happier. And it’s basic psychology that employees who are affirmed for good behaviour are more likely to repeat those actions and that, in the long run, will build a stronger company.

In organizations with effective employee recognition, employee engagement, productivity and customer service are about 14 percent better than in those where recognition does not occur.

Employee recognition today is a $46 billion market (gold watches, pins, thank-you awards, plaques, etc.). Looking at where this money goes, we find that 87% of the recognition programs focus on tenure. Most of these tenure-based rewards programs have been there for ages; since the labor unions forced management to give employees “service awards” and hourly raises for tenure. However the sad part about this is that only about 58% of employees in most large companies know about such programs.

Tenure based reward programs have virtually no impact on Organizational Performance. It’s like staying an extra year at your job so you could get a 10-year pin. Plus they motivate at an individual level whereas recognition programs are meant for positively influencing teams.

Yes, that’s right. People get rewarded for sticking around. Instead they should get recognized for their positive efforts towards the team, organization.

On the other hand, recognition programs at a team level enable better communication and add emotional value to the employees. It has been shown to improve morale, productivity, and even retention. Organizations can design recognition programs at a team level with decentralized budgets, helping better utilization of these funds and add more value to the team and the organizational performance.

Just think about the amazing implications of recognizing employee’s contributions. It shows you are paying attention. It shows you care. It makes people feel valued. It makes people feel awesome. It motivates them to do more for the team. And as business guru Tom Peters notes, “People don’t forget kindness.”

In a way you can turn simple ‘thank you’ or a ‘good job’ into a tool to make your team more productive. Motivated, productive and happy teams can have a positive impact the organization’s performance.

Recognition and appreciation play an important role in motivating the team. Leadership is about empowering others in helping realize their own abilities. Be a leader, put your belief in people, communicate and watch them raise to your expectations.


Turn Thank yous into Performance with Engazify. Log on to Engazify.com to find out how.

This post was originally published here on the Engazify blog.

Engazify is a simple team engagement software that helps managers boost their team’s productivity through feedbacks & recognitions. You can sign up your team for a free trail here.

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10 startups focusing on Urban Mobility

As a part of my assignment in college, I compiled a list of 10 startups working on traffic and urban mobility issues. Since I’ve been working on Urban Mobility issues for a long time, I thought it’d be great to post the same on my blog!

Traveling in a city to work, school or a social gathering is a need. But with the expanding cities and increasing no of vehicles, Traffic makes it harder for all of us to commute in cities.

What if you knew how crowded the roads are and plan your trip accordingly? What if you could share a ride and cut down on your costs or take a bike and exercise while you commute?

We’ve compiled a list of 10 start ups and Non profits working to solve the problem of Urban Mobility.

MYBYK

 

MYBYK is a ‘bicycle feeder service’ aimed at addressing the problem of first
and last mile connectivity faced by the users of public transport, be it the local trains, metro rail, BRTS, and city bus service etc. It’s currently being implemented in Ahmedabad.

The pilot project was set up with the sole intention of introducing the concept to the end users, investors and government authorities, gauge user response, understand operational challenges, and evaluate operational viability, etc. The idea has not made much commercial success yet but has a great future.

The idea is very much relevant for fast growing Indian cities where first and last mile connectivity is a major issue. The key challenges in India are funds for expansion and introducing the concept to the end users.

 

 

 

HCT

HCT is a London based social enterprise in the transport industry. The idea is a community based public transport system using busses. They’re currently working in a wide area incuding London Redbusses to School busses.

The concept has been a great success commercially and has a lot of scope in growing cities around the world.

 

AtCag – Kerberon Automations

 

AtCag is a completely automated bicycle sharing system by Kerberon Automations based out of Bangalore. ATCAG-BikeShare is a completely automated unit which automatically issues and accepts bicycles electromechanically based on digital authentication via Contact-less Smart Cards.

The pilot program of the idea is running in Bangalore in collaboration with DULT and BBMP. It has not been commercialized in a large scale.

The idea is not very relavant for a diverse country like India. The major challenges could be making people comfortable with automated systems, safety of the equipment and stations and funds for expansion.

 

 

 

 

 

Traffline

Birds Eye Systems Pvt Ltd

 

Traffline is a website and smartphone application that provides real time traffic information in 5 cities in India, Mumbai, Delhi NCR,Hyderabad,Bangalore and Pune. Developed by Mumbai-based start-up Birds Eye Systems Pvt Ltd. It’s a very helpful concept for a country like India. It’s working great in all the cities where it works. Traffline also updates the traffic situation on their social media streams, a few local radio stations and recently they’ve launched an app. Traffline has received over 3 rounds of funding and is commercially successful.

 

Embarq India

Embarq India: Ahmedabad BRTS

Embarq India works on Urban Mobility issues in Mumbai, Bangalore  and Delhi. EMBARQ’s mission is to catalyse and help implement sustainable transport solutions to improve quality of life in cities. For the Indian context, the design thinking approach and urban planning could help make our cities sustainable.

Embarq is a not for profit, self sustaining organization.

 

Pie Ride

Capture

A subscription based ride-share door-to-door car-with-a-driver for daily commuters. Known for it’s safe services during the unstable situations in Egypt. Successfully Commercialized. Expanding to other countries as well.

This would be a very relevant concept for India. This would help a lot of daily commuters who take a taxi on a daily basis. This would also encourage a lot of people to use means of taxi, ride sharing or public transport  instead of taking their own cars.

 

 

 

 

TrafficBytes – EGTNS Eygpt.

TrafficBytes is a realtime traffic data collection service that collects traffic data and helps users organize and de-congest their trips. It also helps decision makers and urban planners make use of this data for research work. TrafficBytes is more data centric, cellular based and allows mobile operators and telecom vendors to leverage big data, providing realtime and accurate traffic information without using GPS or installing new sensors. TrafficBytes transforms the current existing mobility management information in realtime, allowing commuters to divert to less congested routes. TrafficBytes also aids urban planners in evaluating traffic waiting time, detecting accidents and making informed decisions.It has been commercially successful and has received investments also.

 

Waze

Waze is a GPS navigation software, a community-driven application which gathers some complementary map data and other traffic information from users. Like other GPS software it learns from users’ driving times to provide routing and real-time traffic updates. It is free to download and use. People can report accidents, traffic jams, speed and police traps, and from the online map editor, can update roads, landmarks, house numbers, etc. Waze has been successful commercially. It has over 1600000 downloads. The  Israeli start up was acquired by Google in 2013.

Waze works in India but the community here is not so strong.

Local Motion

Local Motion is a vehicle access technology providing solutions like vehicle sharing for individuals a etc. Local Motion believes that most vehicles could spend more time on road and with this technology, they aim to create the largest network of connected vehicles on road.

With keyless access for drivers and web-based controls for managers, the technology increases fleet utilization and makes sharing vehicles in a motor pool easier than ever before.

Let’s Ride

Let’s Ride want’s to build a community around ride-sharing and change the way we travel. It’s Pune based start up and the business model is based on user verification. As of now, they’ve not commercialized the idea successfully. But the idea’s commercial viability depends on the community they build around ride-sharing.

The biggest hurdle the Let’s Ride team faces is to bring about the habitual change. It becomes difficult for them to reach out to people, explain and make them understand as to how beneficial and better ride-sharing is. The idea is more relevant if the mindset changes and the country adapts to this habitual change.