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Workers Have Vastly Different Reward Needs
SHRM Online reports on the findings of a study that show workers have vastly different needs when it comes to rewards and recognition. The findings show that rewarding employees can be complicated. One example is that what is considered enjoyable by one worker may be embarrassing for another.
"For some, being honored in front of one’s peers is a great award. For others, the thought of being put on display in front of their peers embarrasses them," he said in a press release. "It depends on the culture and preference of your particular employee base."
Here are some of the findings from the survey.
70 percent receive verbal praise, but only 49 percent want it. Then there's the 21 percent of workers who want verbal praise but aren’t hearing it.
40 percent who want written praise receive it.
30 percent who want to be singled out through a special event are recognized that way.
29 percent who want a cash bonus as recognition for their work receive it.
27 percent who want incentives such as award merchandise, gift cards or trips receive them.
27 percent who want an award such as a trophy or plaque receive it.
The article says that the widely varrying employee needs means that managers need to understood workers better to figure out what they want. Employees also need to try and indicate their wants and needs to employers. The article said only 10% are completely happy with their company's reward program so clearly there is a great deal of miscommunication going on. The 10% could also mean that employees have been unhappy with bonuses or the rate of salary increase because of the overall slow economy.
Posted on February 8, 2006
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New Surveys Crush Hopes for a Raise
If you feel like you need a raise you are not alone. U.S. News reports that salary increase still have not recovered from
the recession and new surveys don't see salary increases in the near future. One depressing study project salaries to barley exceed the rate of inflation.
So, with little slack in the job market, fatter paychecks ought to be close behind, right? Not this time. Salary increases have yet to bounce back in proportion to the strength of the overall market. And two recent surveys indicate that wages will rise only moderately in the coming months. Publishing company BNA's Wage Trend Indicator, which tracks private salaries and wages on a quarterly basis, predicts only a slight rise in third-quarter pay. More disheartening news comes from a recent survey by Mercer Human Resource Consulting, which projects average salaries to exceed inflation by only 1 percent in 2006, less than the 2.4 percent worldwide.
Some employers are also holding vacant positions open longer than normal which also sounds like a bad economic sign. In a good economy they would feel the need to hire to stay competitive with their competitors.
"Companies feel under such cost squeezes that they are looking at other alternatives than raising wages," says Peter Cappelli, director of the Center for Human Resources at the University of Pennsylvania's Wharton School. That means holding a vacant position longer, for example, to wait for a more experienced candidate who won't require expensive training, or filling open jobs with less expensive, younger workers.
Posted on October 11, 2005
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