Within non-monetary incentives, the most relevant element that we can offer our employees, is the acknowledgement of people through rewards and recognition. This can be further divided into ‘open conversations’ and ‘acknowledgement’. Having an open conversation and acknowledgement of opinion on critical processes, instills trust and goodwill in the system. Basic respect, people orientation and ‘employee first’ mindsets, are necessary ingredients for creating an atmosphere, which supports and thrives on “open conversations’ and “acknowledgement’. Within this, performance appraisals play an integral part. The first differentiator is the transparency and the manner in which an appraisal is conducted. Secondly, it is the continuous periodic feedback that one shares towards the end of the project or a task and not just the appraisal; and thirdly the initiative taken by the organization in developing the personal capabilities of employees via coaching and engagement in new projects.
All of these enhance the self-worth of the employees as well as their performance and makes them more efficient on the whole. The process also challenges people to discover their potential, which they then tend to value. Though we already have systems in place, the effectiveness of the same lies in implementing them transparently and this ultimately becomes a value addition for our employees. We realize that it is extremely important to make our people feel ‘valued’ and to imbibe a sense of ‘trust’ in them.
A very small example can be the manner in which a meeting is conducted. Is it a one way communication or is the person conducting the meeting also inviting inputs from those who are participating? Does it have an agenda? Is there a stipulated duration? Is everyone’s convenience taken into account? Allowing employees to express themselves and share their inputs, makes them feel valued, and within the organization the cycle of trust building is set into motion.
As an organization, our core competence lies in Management Education and evolving customer centric mindset in professionals, engaged in the service industry, viz. through MDPs and organization wide interventions. The scope and amount of exposure or development our employees get, to enhance their skills are extensive! A good example would be to analyze how we can coach our employees whenever they are executing new projects or alternatively our faculty in focusing on participant centered learning? Building their corporate interface also goes a long way. Also, recognition and appreciation from peers and seniors works positively to boost their capability and self-esteem. Acknowledgements of birthdays, personal and professional accomplishments, prompt response to e-mails and periodic feedback from supervisors goes a long way in recognizing their contribution. Once you acknowledge the contribution of an employee, they feel valued, recognized and rewarded. Engagement follows and their talent blossoms naturally.