Damara A. Donovan

  • Damara A. Donovan changed their profile picture 1 year, 6 months ago

  • incentives

    In the world of human resource management, incentives and how organizations reward employees are hot topics. We now know just how important it is to reward our employees and create a positive work environment for them. Happy employees are engaged employees and engaged employees are productive employees. Employees who are not satisfied at work begin to feel under appreciated and lack motivation to be productive, and as a result, won’t contribute to organizational goals or bottom lines, which directly influence a company’s profitability. According to Dr. Noelle Nelson, author of Make More Money by Making Your Employees Happy, “companies that effectively appreciate employee value enjoy a return on equity and assets more than triple that experienced by firms that don’t.”

    I recently came across an article in the Harvard Business Review titled, Reward Your Best Teams, Not Just Star Players by Michael Schrage, a research fellow at MIT Sloan School’s Center for Digital Business. Companies offer incentives to encourage certain behavior and top performers at their company, which shows the employee that you acknowledge the time and commitment they put into their jobs. According to Michael Schrage, “Whether working in teams, groups or as individuals, people respond to incentives. They also respond to the absence of incentives. And the incentives top management ignores can prove more revealing than the ones they celebrate.” This is great insight for HR professionals to remember to also “identify and celebrate the “fab fours” and creative quintets of innovation or efficiency”. Doing so will positively impact teamwork and company culture, resulting in happy, engaged, and productive employees.

    Top management should also seek out talented teams, not just top performers. For every “above and beyond” award given to an individual, there should also be a comparable honor given to a team that delivered high results. Failing to also reward teams can impact the workplace as teamwork becomes overshadowed by the small percentage of top employees, which will discourage the larger percentage of employees from trying their best. Schrage explains that “A perceived — or real — absence of fairness can cripple team culture.”

    He later lists the “5 As“, which are his “essential ingredients for facilitating a transformation in teamwork incentives.” 

    Learn more about his 5 As here!

     

     

  • @tuf42976 Hi Shannon, thank you for posting that article from Business Insider, “Here’s What Recruiters Look At In The 6 Seconds They Spend On Your Résumé”. It provided me with some great tips for my resume. I plan to apply to some internships soon and I’m so happy I ran across your post!

  • Damara A. Donovan‘s profile was updated 2 years, 7 months ago

  • Damara A. Donovan‘s profile was updated 3 years, 3 months ago

  • Damara A. Donovan changed their profile picture 3 years, 5 months ago

  • Damara A. Donovan‘s profile was updated 3 years, 5 months ago

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