Mark Peterman
Many U.S. firms miss the mark when recognizing
their employees, according to a survey conducted by Maritz
Research, a division of Fenton, Mo.-based meeting and incentive
firm Maritz Inc.
The online poll of 1,002 full-time employees was conducted in
October 2005.
Among the findings:
" Nearly three quarters (73 percent) of employees polled who
said they wanted to be recognized with noncash incentives said
their firms did not reward them with trips, merchandise or gift
cards.
" Only 27 percent of those polled who prefer to be recognized
by a symbolic reward were recognized with a trophy or plaque.
" Less than one-third (29 percent) of respondents who prefer
cash bonuses received monetary recognition.
" Less than a third (30 percent) who favored a recognition
event as a reward said they were shown appreciation in that
manner.
" Overall, more than half (64 percent) think their company
needs to offer a greater choice of rewards for recognition than
they currently do.
Mark Peterman, vice president, client solutions, at Maritz
Incentives, a division of Maritz Inc., says companies miss the mark
on recognition and rewards because managers wrongly assume
everyone’s tastes, lifestyles or needs are similar to theirs; they
don’t address the diversity of their work force and assume any
recognition will do.
How can the problem be fixed? “Companies must train and
encourage managers to discuss recognition preferences with every
employee, maybe as part of the normal employee review process, and
then provide tools that allow them to recognize people the way they
want to be recognized,” said Peterman.