While businesses have spent more on employee reward and recognition programs in recent years to attract top talent and retain good employees, only 45.3% of employees feel meaningfully rewarded and recognized by those programs. According to a recent Maritz Motivation Solutions study, companies can improve the effectiveness of the reward and recognition programs they invest in by focusing on participant values. The national study indicated a relationship between how effectively employees felt rewarded and recognized and several factors that can be improved with good program design. These factors include leadership support, reward and recognition efforts of direct managers, appropriate reward options and communications, support of personal goals, alignment with company strategy, reinforcement of consumer-focused actions and alignment with corporate culture and values. To identify opportunities for creating better employee programs, the study focused on distinguishing the specific drives and values of employees relating to reward and recognition programs. Four distinct employee value segments emerged – Altruists, Drivers, Pioneers and Stabilizers. Each segment possesses values unique to their particular segment, specifically about how they work, how they prefer to be rewarded and recognized, and how to effectively communicate to them. For more information on the Employee Values study, an infographic and details on each of the four segments, go to www.maritz.com/Employee-Values-Study
