As one of the megatrends, some people call it a hype, “Bring Your Own Device” or just short BYOD shows strong two digits growth rates across all businesses and across the globe. More than 50% of the employees think, that BYOD lets do their job better. They are familiar with their own devices and these devices offer features that are not standard in every company and provide more flexibility. On the other hand, BYOD increases risks for the IT environment of a company and demands more tools and more attention from IT department.
Motivating employees can not be done by raising their salary. This isn’t really a new perception, but still money is the biggest issue when talking about the compensation package for a new or existing job. As the Infographic below shows, rewarding and recognition of employees has a significant impact on motivation. “Free” recognition and virtual rewards have become increasingly important in today’s workforce over tangible, high cost rewards.
More than that, a strategic approach for rewarding and recognition drives business results. Therefore some companies have already started with programs to support and increase the motivation of their employees. Motivated employees are more engaged and this is one of the key drivers for growth. Some continuous improvement strategies like TPS, LEAN and Six Sigma have “built in” recognition strategies to motivate team members and accelerate cultural change to adapt their company to future challenges.
Some of the new trends and hypes may also be incorporated in these recognition strategies:
- Bring Your Own Device (BYOD)
- Social Media Integration
- Idea Management
The most important thing by integrating such supporting strategies is providing instant and personal (positive) feedback to the employees. Recognize and reward your employees and you will see a lot of positive effects on the bottom line.