INSIDE INCENTIVES
Reward rewired Penguins and DRPG’s Research and Insights team has just released The Changing Face of Reward, a report on the current concepts of workplace reward and recognition programmes. Here we present an extract from the report... C ontinued global uncertainty, rapidly evolving work conditions and new realities around job security and wellbeing have impacted organisational approach to reward and recognition dramatically. While most organisations have needed to rapidly deploy new technologies, new approaches and new processes to survive the current climate, it has been harder to find the time, resource and support needed to overhaul reward and recognition in the same way. Our focus groups demonstrated that key challenges are emerging in three core areas. 1. The purpose 2. Reacting to change 3. Charting a path forward The purpose Historically, reward and recognition programmes havebeen geared towards rewarding and incentivising teams and individuals whose performance was hard coded to the company bottom line. In reality, audience perception and expectation around this particular metric has been shifting for a number of years. Business-wide employee engagement, not just engaged sales and business development teams, is fundamental to success and growth. Companies with high employee engagement are 21 per cent more profitable and show a
Companies with high employee engagement are 21 per cent more profitable”
40 MAY 2021 mitmagazine.co.uk
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