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INDUSTRY NEWS
Harnessing the Power of an Engaged Workforce
By Susan Cantrell and James M. Benton, Accenture
Keeping employees engaged and aligned with the needs of the organization is the responsibility of executives at all levels. And for good reason: New research |
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shows that the more engaged the workforce, the more innovative, productive and profitable the company.
Just how committed are your people to your organization’s goals, and how motivated are they in their quest to meet those goals? If your organization is like most today, you have some challenges on your hands when it comes to employee engagement.
Difficult economic times tend to do that: Companies in crisis mode often focus more on the crisis than on the people working to overcome it. Yet once the storm has passed and they turn to ask their employees, “How are you doing?” they may not like the answer. Indeed, a recent Gallup Management Journal survey of more than 1,000 US employees found that 71 percent describe themselves as
either disengaged or actively disengaged from their work.¹ And a recent Accenture survey of more than 500 full-time middle managers in the
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United States revealed that one in five is either currently looking for or plans to look for another job. In other words, one crisis appears to have led to another.
The stakes here are considerable. A fully engaged workforce can pay big dividends. In fact, research has shown that the more engaged the workforce, the more innovative, productive and profitable the company.²
But can organizations actually take specific steps to increase the engagement of their workforce? Yes. With a proper understanding of what employee engagement really means and how organizations can positively influence engagement, they can dramatically improve how their companies perform. And by getting their workforces up to speed fast, they can gain a significant advantage over the competition.
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Engagement and High Performance
Few decision makers doubt the importance of committed employees to business success. A recent survey of business executives found that 72 percent of these leaders consider employee engagement to be critically important to the competitive success of their companies.³ Participants in the 2004 Accenture High-Performance Workforce Study ranked engagement as one of their organization’s top three capabilities. |
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Rewards and Recognition
Ensure that recognition and rewards are clearly and consistently tied to job performance and overall business results. Perhaps not surprisingly, the No. 1 contributor to high levels of employee engagement is related to compensation. But research suggests it is less about the amount of compensation and more about how compensation and other types of rewards and recognition are used to help employees feel like valued contributors. A sense of belonging is vital to engagement—critical to this |
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are the psychological rewards of ownership, inclusion and the conviction that what an employee does matters to the achievement of organizational goals.
One way to create a sense of belonging and impact is to tie rewards to business results. Our research discovered strong correlations between employees whose rewards and recognition are tied to individual performance and business results, and the degree to which rewards and recognition motivate them to maintain or improve their job performance.
Click here to read the article in its entirety.
¹ “Getting Personal in the Workplace,” by Steve Crabtree, Gallup Management Journal, June 10, 2004.
² Analysis of implementations of the Accenture Human Capital Development Framework has shown a strong relationship between an organization’s innovative capability and employee engagement. Other studies have consistently shown the link between employee engagement and business results. Most notably, the Gallup Organization’s data on employee attitudes strongly suggest a link between those organizations in which employees feel more engaged and satisfied in their work and employee turnover, profitability, productivity and customer loyalty.
³ The survey was administered as part of implementations of the Accenture Human Capital Development Framework in 2003–2004. These implementations were sponsored by SAP and Accenture.
Source: This article originally appeared in Outlook, Vol. XVII, No. 1, February 2005, an Accenture publication. Copyright 2005 Accenture. All rights reserved. Adapted and reprinted by permission.
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National Safety Month |
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The National Safety Council urges businesses of all sizes to set high standards for safety within their organizations that include the safety and well-being of their employees, their employee’s families, as well as the communities in which their businesses operate.
The national cost to businesses is more than $200 billion in wages, productivity, medical expenses, insurance administration and costs for those uninsured.
Organizations look to incentives in their safety programs to promote on-the-job safety and health
to employees during June— National Safety Month and throughout the year. |
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Click here to learn how to design the framework for an effective and impactful safety program using incentives.
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The Motivation Show
The Motivation Show, Sept. 27-29, 2005, at Chicago’s McCormick Place, is the world’s largest exhibition of motivational products and services.
Education includes dozens of free seminars and paid workshops on how to create more effective, measurable programs and take advantage of motivation to get the most out of your relationships with customers, channel partners, salespeople, employees, vendors, and shareholders. |
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INDUSTRY TRENDS
Gift Certificates Still Most Popular Incentive
The latest industry study conducted by the Incentive Federation reveals that gift certificates still offer the most value as incentives. This study was last conducted in 2003, revealing the growth of gift certificates.
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Overwhelming results show that gift certificates are the most popular incentive in all four applications:
58% Consumer Promotions
49% Dealer Incentives
59% Sales Incentives
62% Non-Sales
Recognition/Motivation
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Nearly 2/3 (62%)of respondents agree that cash is remembered for the
shortest time.
More than half (53%) believe that employees tend to look at bonuses as something they are due.
Source: This article originally appeared in Outlook, Vol. XVII, No. 1, February 2005, an Accenture publication. Copyright 2005 Accenture. All rights reserved. Adapted and reprinted by permission. |
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Two key findings from Northwestern University’s recent study; Linking Organizational Characteristics to Employee Attitudes and Behavior—A Look at the Downstream Effects on Market Response & Financial Performance:
There is a direct link between employee satisfaction and customer satisfaction, and between customer satisfaction and improved financial performance.
It is an organization’s employees who influence the behavior and attitudes of customers, and it is customers who drive an organization’s profitability through the purchase and use of its products. |
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Source: Dr. James L. Oakley, Northwestern University Forum for People Management & Measurement, February 2005. |
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GIFT CERTIFICATE CENTER NEWS
& ENHANCEMENTS
New Merchants |
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And the list grows on. The recent additions to the retail, travel/hotel and restaurant categories expand the already incredible variety of choice for your recipients. |
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Great American Days, America’s leading experience gift specialist, takes the most exciting, indulgent and inspirational activities from around the US and the world and turns them into unforgettable gifts. |
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| From NASCAR rides to hot air balloon flights, a trip to the edge of space or luxury spa days,
Great American Days’ amazing selection of more than 6,000 activities
and adventures provides a unique gift solution for every special occasion. Make it a day to really remember – give the experience of a lifetime! |
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May Department Stores Company® brings 11 more retailers to the offering. One stop shopping for him, her and home. You'll find a great selection of gifts from top name brands– all at your fingertips. |
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The Ritz-Carlton Hotel Company, L.L.C. currently operates 58 hotels in the Americas, Europe, Asia, the Middle East and Africa. |
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Among the grand hotels of the world, The Ritz-Carlton hotels and resorts are renowned for indulgen luxury. Sumptuous surroundings and legendary service await every |
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guest that passes through our doors. |
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The Ritz-Carlton award-winning hotels reflect the 100 years of tradition that stand behind them. The Ritz-Carlton gift certificates are accepted worldwide at all of their hotel properties. |
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Claim Jumper features favorites like Baby Back Pork Ribs, USDA Prime and Choice Steaks, Fresh Fish, Specialty Salads, and a variety of desserts including our award |
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winning Six-Layer Chocolate Motherlode Cake.
Relax in the Claim Jumper saloon where you can enjoy an |
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impressive wine selection, classic martinis and hand poured signature cocktails. 35 locations throughout California, Washington, Arizona, Nevada, Colorado and Illinois. |
Merchant Updates
The BLOCKBUSTER GiftCard® is now accepted on-line at Blockbuster.com
in addition to their stores. Visit Blockbuster.com for details on redeeming BLOCKBUSTER GiftCards® on-line. Giftcards subject to complete terms
and conditions.
BLOCKBUSTER name, design and related marks are trademarks of Blockbuster Inc.
© 2005. Blockbuster Inc. All rights reserved. |
Macy's launches nameplate in cities across the country
The Macy's brand was launched nationwide in early March as the regional nameplates of Federated Department Stores, Inc. - Bon-Macy's, Burdines-Macy's, Goldsmith's-Macy's, Lazarus-Macy's and Rich's-Macy’s - became known simply
as Macy's.
When redeeming your Award that lists these department stores, select “Macy’s” and you’ll be able to shop at the store nearest you. There are now more than 420 Macy's stores coast to coast. |
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The Inventive Incentive People
Gift Certificate Center launched a fresh and new awareness campaign in a few Industry publications, including SellingPower, Incentive magazine, PROMO, and Automotive News. |
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