A leader early in my career told me “Your most valuable assets walk out the door every day, your most important job is to make sure they come back tomorrow.”Employees, teammates, associates, staff. What every name they go by; your people are the most important assets of the organization. More important than capital, more important than brand, and yes, even more important than members. We know that organizations with engaged teams operate at a much higher effectiveness than firms without engaged teams. Yet a Gallop study reports that, on average, only about 34% of employees are engaged, and that 12% are actively disengaged. 66% of the most important asset of firm is either not engaged or actively disengaged – talk about a management challenge and a massive opportunity! Changing those numbers should be a top priority, but how to start? Setting goals, rewarding successes and recognizing engagement is an important part of an effective culture, and we have used Behavioral Economics to provide our clients with several insights into the way employees react to various engagement efforts. Successful programs include several concepts:Praise is important, but it’s not enough. An effective program includes public recognition and celebration and incorporates a reward. Celebrate those moments as broadly as possible; include them in your social media and member communications.Cash is often not the best motivator in recognition programs. In surveys people report that they want cash rewards, but studies have consistently shown a much higher lift in performance when non-cash rewards are used. How much should you allocate to non-cash recognition programs? Top performing financial institutions budget around 8% of employee compensation for their recognition programs. Establish clear goals and provide an effective and easy way for the staff to track progress. Employees need to know what is expected and have access to regular updates to show them the progress they have made toward the goals. Don’t keep them in the dark.Team goals are often more effective than individual goals. Putting teams to work on goals can create a powerful multiplier effect that is often lost when individuals feel they are pitted against others in the organization. Set shorter term goals. We are often focused on annual targets, but behavioral economics shows that the closer we are to a goal the more motivated we are to reach it. Convert your old annual targets into quarterly, monthly, or even weekly or daily goals. Make sure you are recognizing and rewarding as close to real time as possible. Don’t let time evaporate the linkage between the desired behavior and the reward.Consider a reward option that allows a winner to contribute their award to a charitable organization. You might do this by converting a non-cash award to a cash equivalent for donation, or by converting the award to paid time-off allowing the winner to volunteer at a charity. Studies show that philanthropic activities are becoming increasingly important to your team. An effective culture is key to employee engagement and there are several areas that drive the creation and nurturing of culture. The way you recognize and reward will tell your teams what you value; make sure your programs do that effectively. 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Rick Leander Rick Leander is Founder and Managing Partner of LFB Holdings, a behavioral insights consultancy that works with established and startup enterprises.At LFB Holdings we teach clients how to leverage … Web: www.lfbholdings.com Details
After defeating the defending champions, No. 3 Pepperdine University (6-2), in a 3-2 victory on Tuesday, the No. 1 ranked Women of Troy are set to face off against St. Mary’s and Cal State Bakersfield in Merle Norman Stadium.The Women of Troy have a 7-0 record and are off to their best start in program history. This week, however, is extremely hectic for the Women of Troy as they have six duals on the schedule. After Thursday, the Women of Troy head to Arizona to play against New Mexico, Grand Canyon and Arizona State.While this schedule may be tough, sophomore Sara Hughes has found a way to handle the rigors of the season.“Since our season is so short it is brutal,” said Hughes. “It’s hectic and not easy but we have to go to the training room. We have to take ice baths and be in with our trainer. It’s all about up keeping our bodies and maintaining our health.”While Hughes and her partner Kelly Claes have had an excellent start to the season winning the pairs tournament in Hawaii, they suffered their first loss of the season against Pepperdine.Even though these upcoming opponents may not be highly ranked, head coach Anna Collier knows that they will be challenging.“Both teams are going to be smaller and will rely more ball control,” said Collier. “We are used to teams who are big up front. They will drop a lot of different kind of strategies that we don’t see.”Cal State Bakersfield has a 6-2 record, but their two losses came against Pepperdine and Loyola Marymount. Thus far the No. 1 pairing of redshirt senior Mariah Alvidrez and senior Molly O’Hagan has been very consistent, winning six games. While the Bakersfield Roadrunners only have one player over the height of six feet in sophomore Sydney Hayes, they make up for lack of height in their style of play. They are extremely reliable defensively, and they find ways to score points.St. Mary’s has had a slow start to the season, with a 3-4 record. They began the year ranked No. 8 in the country but after two losing streaks, they have fallen out of the rankings. The Gaels utilize the strategy of having several players who play both indoor and sand volleyball. Unlike the Roadrunners, the Gaels have a number of players that are over six feet tall. Their top pairing senior Samantha Tinsley and junior Dalas Dodd are living up to the bill by winning six of their seven matches for Gaels this season.One of the most crucial pairings for the Women of Troy is their No. 3 pair with graduate student Meg Norton and senior Eve Ettinger. Norton transferred from UCLA and continues to gel with her new teammate.“I think we are still improving on team chemistry cause we are really good friends but we haven’t played together for very long, since I am new this year,” said Norton. “When we are connected in a match that is when we play our best.”The first dual match on Thursday starts 3 p.m. against the CSU Bakersfield followed by another dual match at 4:30 p.m. against St. Mary’s.