Where could you be more strategic in your total rewards spend? Are you funneling much of it into an annual bonus?
New research from Wharton shows that the annual bonus, a staple of many total rewards programs, can actually lead to unethical behavior, fuel turnover, and foster envy among co-workers. Sounds like unnecessary drama – and money wasted. More importantly, the performance boost of an annual bonus diminishes within weeks.
Read our e-book and learn a better way:
A little rethinking and reallocation means you can increase your margins without adding a penny to your budget.
Becoming Workhuman: A Mission with a Company
Twenty years ago, I co-founded a company with a mission: to help every person feel valued for who they are and what they do. Today, it appears we may have been onto something: We are now the world’s fastest-growing integrated social recognition and continuous performance management platform.
Great leaders instinctively know that the more gratitude in a company, the better it performs; our data proves this, over and over again. Around the globe, more than 4 million humans at hundreds of companies are experiencing the rewards of aligning culture to shared purpose. Since 1999, we have observed millions upon millions of positive interactions between people in the workplace and have measured their outcomes.
Indeed, turnover is cut in half for employees who receive a moment of gratitude from a fellow employee at least once every 60 days. And safety records are more than 80 percent better for teams that express gratitude.
Today, I’m thrilled to announce that our company name now clearly reflects the power of bringing gratitude into the workplace: We are Workhuman. This evolution acknowledges both the traction and effectiveness of our Workhuman® Cloud platform, and the demand from progressive global organizations who want to motivate and empower their people to do the best work of their lives.
Our human applications are shaping the future of work by helping our customers connect their people to shared purpose. True Workhuman Enterprises generate unparalleled, provocative data and insights through a consistent stream of gratitude. Companies like LinkedIn, Cisco, The Hershey Company, Eaton, JetBlue, Cardinal Health, Merck, Intuit, P&G, and UnitedHealth Group have all experienced the undeniable ROI of making their workplaces more human.
As part of our leadership in this movement, our celebrated Workhuman conference has become a beacon for businesses and HR professionals who “get it” and want to learn more. The aim has always been to bring together forward-thinking leaders and the world’s most influential visionaries to tackle big issues. Former First Lady Michelle Obama, Amal Clooney, Adam Grant, Simon Sinek, Tarana Burke and many more are part of this community.
Workhuman. It’s a simple word that a company called Globoforce put on top of a new event idea five years ago. It has morphed into a movement, a category, a vision; it’s become a mission with a company. We’d love to help you help your people do the best work of their lives. Experience the power and value of making work more human.