Many traditional forms of recognition and compensation are not working and executives want to know why. It used to be easy; recognition was all about logoed, trophy-value awards that were custom-made to carry a lasting company message to predominantly Baby Boomer employees. Today, there are four distinct generations in the work force and the Millennials are demanding very different approachs to recognition and compensation … or at least that’s how it appears!
The vendors, who forever have been simply proving the “stuff” assuming that their clients know why they’re buying it and how to properly hand it out, are partly to blame. We as an industry have not done a very good job of teaching our customers the difference between recognition and compensation, how to best use these tools, and most importantly, how to measure the results and prove ROI.