However it was interesting that the dimensions of reward, recognition, performance management came out at the bottom end across all categories of employers (large, medium and small).
No surprise there!
With the economic slowdown and talent flight, reward is under pressure: I’ve noticed rising pay inequities between internal staff and appointments from the outside, performance increases outpaced by inflation, escalating healthcare costs, bonuses on the line and share options under water.
Conventional recognition is broken in my view – be honest, when was the last time, that you were bowled over by the recognition in your company for those that deserved it? The standard individual, team and organisational wide recognition schemes just don’t cut it in the wired age. Talent waiting for appreciation is likely to be disappointed, there are dozens of other priorties ahead in the management attention queue. I will be flipping recognition on its head at the upcoming Human Capital & Social Media Conference on 20 October 2008 when I discuss a Smart Reward Strategy, 365 Days of Fame in this space.
When it comes to performance management, where does one start? AWOL in public departments, the only public department among survey winners was the Competition Commission. When it comes to corporates, performance management is miles away from how well you performed during the year and is corridors closer to how well you played musical chairs with management.
If you work in the exception to the rule company, I’d love to hear from you.