aligning employee recognition to purpose: webinar recap
By elena todorova in Appreciation, Culture, Insights, and Webinars
Our latest webinar featured Louis Efron, the author of “How to Find a Job, Career, and Life You Love,” and contributing writer to the Huffington Post and Forbes. As an award-winning Human Resources executive, speaker, and visionary leader, Efron has led organizations as diverse as Tesla Motors and Fortune 300 medical device company Stryker to achieve purpose-led success.
The first step to achieving organizational growth and success, Efron says, is answering one simple question. Why does your company exist? Understanding your organization’s purpose, and communicating it to employees, is the key to great company performance. In fact, it’s difficult to properly equip and develop leaders and move forward as an organization if you don’t understand the purpose that leads you. Businesses, Efron says, don’t start just to make money—they start because they have a purpose in mind, to serve a customer or do something for society.
Honing in on your organizational purpose is absolutely crucial, because businesses that understand the difference they are trying to make have better bottom-line results. Efron presented some impressive statistics on purpose-driven organizations. Between 1996-2011, these companies had 1,646% overall growth, and outperformed the S&P 500 by 57%. Corporate purpose is the most powerful tool for growth. But how can you leverage it?
That’s where meaningful recognition comes in. When done right, recognition aligns employees to the organization’s purpose, and spurs engagement and results. The best way to reinforce behaviors to support your organizational purpose is to recognize employee work that is driving value. Don’t just recognize good or average work. Accelerate world-class results by applauding exceptional performance.
Efron highlights some key ways to make sure your recognition program is meaningful and drives behaviors that affirm your purpose.
Make it real-time and specific.
Quarterly or annual reviews aren’t enough to give feedback for great performance. Instead, design a recognition solution that allows managers and peers to recognize great work whenever they see it. Make it a point to recognize and highlight the behaviors, such as teamwork, innovation, or customer care, which drive your purpose. Then, make sure your recognition style fits the personality of your team. Ask your employees how they would best like to be recognized, and take the feedback to heart.
Focus on creating a recognition-based culture.
Train employees and leaders to understand the importance of recognition and work to embed it throughout your organization. Soon enough, appreciation will become intrinsic, because it’s a value-add: it moves your organization forward. Define your purpose, recognize behaviors, empower your culture, and you will achieve the business results.
For more insights from Efron on how to define your purpose and deliver recognition that resonates, listen to the full webinar recording here.