WEBVTT 00:00:00.000 --> 00:00:02.640 All right, retail executives, let's get right 00:00:02.640 --> 00:00:04.639 into it today. We're talking about something 00:00:04.639 --> 00:00:07.139 that I think we can all agree is pretty crucial 00:00:07.139 --> 00:00:10.039 in this environment. You're all out there trying 00:00:10.039 --> 00:00:14.140 to attract and keep and motivate top talent, 00:00:14.740 --> 00:00:17.710 and it's a tough world out there. Yeah. It really 00:00:17.710 --> 00:00:20.489 is. So today we're gonna be doing a deep dive 00:00:20.489 --> 00:00:24.289 into employee recognition. And we're gonna be 00:00:24.289 --> 00:00:27.809 looking at it not just as some fluffy HR initiative, 00:00:28.089 --> 00:00:30.910 but as a real core driver of the bottom line. 00:00:31.170 --> 00:00:33.149 We wanna give you some really solid, actionable 00:00:33.149 --> 00:00:35.469 insights so you can make sure that the recognition 00:00:35.469 --> 00:00:37.210 programs you've got in place are actually working 00:00:37.210 --> 00:00:40.350 for you. And more importantly, avoiding some 00:00:40.350 --> 00:00:43.049 of those common mistakes that we see that companies 00:00:43.049 --> 00:00:45.789 often fall into. Yeah. So just to give you a 00:00:45.789 --> 00:00:47.810 sense of where we're coming from with this, we've 00:00:47.810 --> 00:00:49.270 got some great sources lined up. We're going 00:00:49.270 --> 00:00:51.710 to be looking at some stuff from SHRM. We've 00:00:51.710 --> 00:00:53.750 got some Gallup research and then also some really 00:00:53.750 --> 00:00:55.990 interesting insights from Multimedia Plus, which 00:00:55.990 --> 00:00:58.149 really focus in on the kind of the unique challenges 00:00:58.149 --> 00:01:00.310 of the retail world. Yeah, their perspective 00:01:00.310 --> 00:01:03.390 is really valuable for this specific audience 00:01:03.390 --> 00:01:06.719 because You know retail has its own nuances, 00:01:06.840 --> 00:01:09.459 right? Oh, absolutely when it comes to how you 00:01:09.459 --> 00:01:12.099 appreciate and reward your employees Yeah, like 00:01:12.099 --> 00:01:15.140 what works in a tech company or a you know manufacturing 00:01:15.140 --> 00:01:17.180 environment doesn't always translate to the shop 00:01:17.180 --> 00:01:20.159 floor You know exactly so okay. Let's get down 00:01:20.159 --> 00:01:22.829 to brass tacks here Why does this even matter? 00:01:23.069 --> 00:01:25.090 Why are we even talking about recognition? Well, 00:01:25.230 --> 00:01:26.769 you know, we often talk about the softer side 00:01:26.769 --> 00:01:28.870 of things, right? Like creating a more positive 00:01:28.870 --> 00:01:31.230 work environment. Yeah. Improving well -being, 00:01:31.310 --> 00:01:34.590 reducing burnout. SHRM actually highlights all 00:01:34.590 --> 00:01:37.810 of these as direct outcomes of good recognition 00:01:37.810 --> 00:01:41.670 practices. Let's bring this into the retail context. 00:01:42.230 --> 00:01:44.569 Yeah. Think about it. Long hours demanding work. 00:01:44.650 --> 00:01:46.909 You're constantly interacting with customers. 00:01:47.189 --> 00:01:49.590 Feeling valued in that kind of setting can be 00:01:49.590 --> 00:01:51.530 a really important buffer against burnout. Oh, 00:01:51.530 --> 00:01:53.150 for sure. I mean, you're out there on the front 00:01:53.150 --> 00:01:56.170 lines dealing with holiday rushes and inventory 00:01:56.170 --> 00:01:58.650 issues, and it can be a grind. Absolutely. And 00:01:58.650 --> 00:02:01.530 then there's the impact on how satisfied and 00:02:01.530 --> 00:02:04.010 engaged people are with their work. Right. A 00:02:04.010 --> 00:02:06.329 Canva study I was looking at found that 94 % 00:02:06.329 --> 00:02:09.659 of employees who feel highly appreciated love 00:02:09.659 --> 00:02:13.860 their workplace and 91 % love their jobs. Wow, 00:02:13.979 --> 00:02:15.960 those are pretty impressive numbers. Right, but 00:02:15.960 --> 00:02:19.240 here's the thing, only 18 % of unappreciated 00:02:19.240 --> 00:02:23.300 employees love their workplace and only 33 % 00:02:23.300 --> 00:02:26.250 love their jobs. It's a huge difference. Yeah. 00:02:26.490 --> 00:02:29.810 So if you want happy, engaged teams in your stores, 00:02:30.490 --> 00:02:32.250 and let's be honest, that translates to better 00:02:32.250 --> 00:02:34.610 customer experiences and ultimately more sales, 00:02:34.830 --> 00:02:37.210 right? Exactly. It's all connected. You've got 00:02:37.210 --> 00:02:38.870 to make sure those folks are feeling the love. 00:02:39.030 --> 00:02:40.610 Yeah. And then there's the financial side of 00:02:40.610 --> 00:02:42.889 things. I mean, Gallup's research shows that 00:02:42.889 --> 00:02:45.449 if employees don't feel adequately recognized, 00:02:45.990 --> 00:02:49.159 they're twice as likely to quit. Oh. That's painful. 00:02:49.479 --> 00:02:52.139 Right. And in retail where turnover is already 00:02:52.139 --> 00:02:54.819 a major cost factor that can really hit your 00:02:54.819 --> 00:02:57.020 bottom line. Yeah, it's not just about warm fuzzies 00:02:57.020 --> 00:02:59.060 anymore. It's about serious money. Absolutely. 00:02:59.419 --> 00:03:01.819 So we've talked about retention, but recognition 00:03:01.819 --> 00:03:04.900 is also a huge motivator. Yeah, Gallup really 00:03:04.900 --> 00:03:07.419 emphasizes this. It makes people feel a sense 00:03:07.419 --> 00:03:10.680 of accomplishment. It reinforces those positive 00:03:10.680 --> 00:03:12.539 behaviors that you want to see in your retail 00:03:12.539 --> 00:03:14.939 environment, whether it's excelling at sales. 00:03:15.020 --> 00:03:17.360 Right. Providing outstanding customer service 00:03:17.360 --> 00:03:19.539 going the extra mile. Yeah, exactly. Okay, so 00:03:19.539 --> 00:03:22.939 we've got the why down now the big question is 00:03:22.939 --> 00:03:26.620 Where do we go wrong? Where are we messing this 00:03:26.620 --> 00:03:29.659 up? Well, I say Tram has some thoughts on that 00:03:29.659 --> 00:03:33.319 they point out this danger of recognition being 00:03:33.319 --> 00:03:37.319 too top -down hmm, you know like If it's only 00:03:37.319 --> 00:03:39.039 senior leaders making the decisions about who 00:03:39.039 --> 00:03:42.780 gets recognized you risk overlooking the contributions 00:03:42.780 --> 00:03:44.879 of those frontline employees. Yeah, the folks 00:03:44.879 --> 00:03:46.860 actually out there on the floor. Exactly, especially 00:03:46.860 --> 00:03:48.919 in retail where you might have multiple locations. 00:03:48.960 --> 00:03:51.199 Right. Or people working remotely. Oh yeah, don't 00:03:51.199 --> 00:03:53.639 forget about the remote teams. Exactly. SHRM 00:03:53.639 --> 00:03:56.780 specifically calls out the risk of neglecting 00:03:56.780 --> 00:03:58.879 those remote workers or those who might be in 00:03:58.879 --> 00:04:01.340 those support roles that aren't directly customer 00:04:01.340 --> 00:04:03.659 -facing but are still vital. Like the people 00:04:03.659 --> 00:04:05.960 processing online orders. Yeah, exactly. Keeping 00:04:05.960 --> 00:04:08.680 the inventory moving. If they constantly see 00:04:08.680 --> 00:04:11.060 recognition going to the in -store sales teams, 00:04:11.539 --> 00:04:13.080 they might feel like their contributions aren't 00:04:13.080 --> 00:04:15.060 valued. Yeah, it's like their efforts are invisible. 00:04:15.500 --> 00:04:17.259 Exactly. And then we've got this whole other 00:04:17.259 --> 00:04:20.800 issue of over -emphasizing individual achievements 00:04:20.800 --> 00:04:24.839 at the expense of teamwork. And SHRM, actually, 00:04:24.980 --> 00:04:26.579 they have this great example in their article 00:04:26.579 --> 00:04:28.819 about the Top Sales Producer Award. Oh, yeah. 00:04:29.050 --> 00:04:31.629 and how if it goes to someone who's known for, 00:04:31.629 --> 00:04:33.870 you know, hogging all the sales and not being 00:04:33.870 --> 00:04:36.529 a team player, it can actually create a really 00:04:36.529 --> 00:04:38.490 toxic environment. It can actually undermine 00:04:38.490 --> 00:04:41.250 the collaboration that you need for a successful 00:04:41.250 --> 00:04:44.529 retail operation. Yeah. And then on top of all 00:04:44.529 --> 00:04:47.129 that, Canvas data shows that we often forget 00:04:47.129 --> 00:04:49.689 about our junior and mid -level employees. Oh, 00:04:49.769 --> 00:04:51.620 yeah, that's a big one. They found that only 00:04:51.620 --> 00:04:55.939 43 % of employees below the director level felt 00:04:55.939 --> 00:04:58.579 recognized as individuals. That's pretty low. 00:04:58.860 --> 00:05:02.189 Compared to 74 % of VPs and above. So you're 00:05:02.189 --> 00:05:04.970 missing out on recognizing a huge chunk of your 00:05:04.970 --> 00:05:07.149 workforce. And those are the folks who are often 00:05:07.149 --> 00:05:09.230 doing the heavy lifting day in and day out. Right. 00:05:09.329 --> 00:05:11.709 OK, so we've talked about these kind of traditional 00:05:11.709 --> 00:05:15.970 pitfalls, but now let's get into the social media 00:05:15.970 --> 00:05:19.889 age. Yes, the LinkedIn shout out. Exactly. Multimedia 00:05:19.889 --> 00:05:21.970 Plus, they've got some really interesting thoughts 00:05:21.970 --> 00:05:25.050 on this. You know, on the surface, it seems like 00:05:25.050 --> 00:05:26.709 a good thing, right? Like you're giving someone 00:05:26.709 --> 00:05:29.730 a public shout out. You're showing your appreciation. 00:05:30.170 --> 00:05:32.579 Sure. It seems positive at first glance. But 00:05:32.579 --> 00:05:34.680 they raise some really important points. Yeah. 00:05:35.040 --> 00:05:36.720 For one thing, think about it. You're publicly 00:05:36.720 --> 00:05:39.500 praising someone for their amazing sales numbers. 00:05:40.139 --> 00:05:42.779 You're basically putting a big target on their 00:05:42.779 --> 00:05:45.199 back for recruiters. You're like, come and poach 00:05:45.199 --> 00:05:47.439 our best people. Exactly. You could end up losing 00:05:47.439 --> 00:05:49.939 your top talent. That's not what we want. No, 00:05:50.060 --> 00:05:52.160 not at all. And what about all the other employees 00:05:52.160 --> 00:05:54.579 who don't get that public shout out? Yeah, they're 00:05:54.579 --> 00:05:56.579 going to feel pretty left out. Right. It can 00:05:56.579 --> 00:05:59.240 create resentment and actually demotivate people. 00:05:59.370 --> 00:06:02.389 And then there's this whole issue of using internal 00:06:02.389 --> 00:06:05.230 jargon and hashtags that no one outside the company 00:06:05.230 --> 00:06:07.370 understands. Oh, yeah. You're talking about KPIs 00:06:07.370 --> 00:06:09.889 and internal metrics. Yeah. Your customers are 00:06:09.889 --> 00:06:11.009 going to be like, what are they even talking 00:06:11.009 --> 00:06:13.269 about? It just creates this weird disconnect. 00:06:13.370 --> 00:06:15.829 And then there's a whole privacy issue. You know, 00:06:15.990 --> 00:06:18.370 have you even asked your employees if they're 00:06:18.370 --> 00:06:21.050 OK with having their achievements blasted all 00:06:21.050 --> 00:06:23.949 over LinkedIn? It's a really important ethical 00:06:23.949 --> 00:06:26.750 consideration. It is. And you know what? Multimedia 00:06:26.750 --> 00:06:30.089 Plus suggests that this reliance on public platforms 00:06:30.089 --> 00:06:33.370 might actually be a symptom of a bigger problem. 00:06:33.569 --> 00:06:36.129 Oh, interesting. What's that? A lack of good 00:06:36.129 --> 00:06:39.050 internal communication systems. Oh, I see. If 00:06:39.050 --> 00:06:41.149 companies don't have a good way to recognize 00:06:41.149 --> 00:06:44.529 and celebrate successes internally, leaders might 00:06:44.529 --> 00:06:47.110 just default to using these external platforms 00:06:47.110 --> 00:06:49.430 even though they're not really the best fit. 00:06:49.639 --> 00:06:51.779 Yeah, it's like using a hammer to screw in a 00:06:51.779 --> 00:06:54.000 screw, you know. Exactly. So we've talked about 00:06:54.000 --> 00:06:56.319 why recognition is important and where we often 00:06:56.319 --> 00:06:58.519 go wrong. Right. So now let's get to the good 00:06:58.519 --> 00:07:01.240 stuff. Yeah. How do we do this right? What are 00:07:01.240 --> 00:07:05.199 the best practices? Blade on us. OK, so SHRM 00:07:05.199 --> 00:07:07.839 really emphasizes the need for a multifaceted 00:07:07.839 --> 00:07:10.639 approach. OK, so not a one size fits all. Exactly. 00:07:10.779 --> 00:07:13.800 They give this example of. I solved, which uses 00:07:13.800 --> 00:07:16.339 a bunch of different strategies. So you might 00:07:16.339 --> 00:07:18.860 have company -wide programs, maybe some regional 00:07:18.860 --> 00:07:21.379 competitions. Oh, like a sales challenge. Yeah, 00:07:21.579 --> 00:07:23.939 exactly. With some really great rewards. But 00:07:23.939 --> 00:07:25.920 then you also need things happening at the department 00:07:25.920 --> 00:07:29.100 level. OK, more localized. Right. That way, managers 00:07:29.100 --> 00:07:31.519 can tailor the recognition to their specific... 00:07:31.800 --> 00:07:34.819 team goals. And the company value. Exactly. Okay, 00:07:34.860 --> 00:07:36.480 that makes sense. And don't forget about peer 00:07:36.480 --> 00:07:39.160 -to -peer recognition. Oh yeah, that's powerful. 00:07:39.379 --> 00:07:41.680 It is. Letting employees recognize each other 00:07:41.680 --> 00:07:44.560 can really boost morale and team cohesion. It 00:07:44.560 --> 00:07:47.620 makes people feel seen by their peers. Exactly. 00:07:48.259 --> 00:07:50.680 And you know, Multimedia Plus, they talk about 00:07:50.680 --> 00:07:54.470 this platform called Insight Posts. which is 00:07:54.470 --> 00:07:56.350 a great example of how you can facilitate that 00:07:56.350 --> 00:07:58.149 kind of peer -to -peer recognition. Well, I'm 00:07:58.149 --> 00:08:00.689 cool. So it's like an internal social media platform. 00:08:01.110 --> 00:08:04.209 Kind of. You can nominate colleagues for awards, 00:08:05.089 --> 00:08:06.829 give them points they can redeem for rewards. 00:08:06.829 --> 00:08:08.689 Well, I like it. It's a really effective system. 00:08:09.050 --> 00:08:11.269 All right. So we've got the multifaceted approach. 00:08:11.310 --> 00:08:13.709 We're getting everyone involved. What else is 00:08:13.709 --> 00:08:17.350 key? Well, Gallup recommends recognizing employees 00:08:17.350 --> 00:08:20.990 every seven days. Every seven days? Wow, that 00:08:20.990 --> 00:08:23.129 seems like a lot. I know it sounds like a lot, 00:08:23.410 --> 00:08:25.629 but it really emphasizes this idea of frequent 00:08:25.629 --> 00:08:28.069 and timely appreciation. So it's not just like 00:08:28.069 --> 00:08:30.629 an annual award ceremony or something? Right. 00:08:30.810 --> 00:08:33.110 In retail, where things move so fast, you need 00:08:33.110 --> 00:08:36.409 to be giving feedback and recognition in real 00:08:36.409 --> 00:08:39.370 time. OK. So like acknowledging a great customer 00:08:39.370 --> 00:08:41.769 interaction you just saw? Exactly. Or giving 00:08:41.769 --> 00:08:44.629 someone praise. right after they handle a difficult 00:08:44.629 --> 00:08:46.990 situation well. It shows that you're paying attention. 00:08:47.090 --> 00:08:49.870 It does. Now let's talk rewards. Yes, rewards. 00:08:49.889 --> 00:08:52.070 Everyone loves a good bonus. Of course. Yeah. 00:08:52.450 --> 00:08:55.529 But SHRM also points out the importance of making 00:08:55.529 --> 00:08:58.429 those rewards meaningful. OK, so not just cash. 00:08:58.690 --> 00:09:01.049 Not always. Think about things that align with 00:09:01.049 --> 00:09:04.620 your employees. career aspirations, their personal 00:09:04.620 --> 00:09:07.539 needs. So maybe mentorship opportunities. Yes. 00:09:07.759 --> 00:09:09.980 Access to training programs. Definitely. Maybe 00:09:09.980 --> 00:09:12.200 even more flexibility in their schedule, if that's 00:09:12.200 --> 00:09:14.320 possible, in a retail setting. Right. Or extra 00:09:14.320 --> 00:09:17.039 break time during those crazy busy seasons. Things 00:09:17.039 --> 00:09:18.860 can be really valuable to people. Yeah. It shows 00:09:18.860 --> 00:09:21.139 that you care about their well -being. Exactly. 00:09:21.299 --> 00:09:24.240 Yeah. And sometimes the most meaningful recognition 00:09:24.240 --> 00:09:26.539 doesn't even cost anything. Oh, really? Yeah, 00:09:26.720 --> 00:09:28.480 Charlotte Anderson from Canva, she talked about 00:09:28.480 --> 00:09:31.679 how a sincere thank you, a handwritten note from 00:09:31.679 --> 00:09:34.600 a manager. Yeah. Those things can go a long way. 00:09:34.759 --> 00:09:37.600 It's about that personal touch. It is. And this 00:09:37.600 --> 00:09:39.980 leads us to another really crucial best practice. 00:09:40.000 --> 00:09:42.419 Okay. Tailoring the recognition to the individual. 00:09:42.639 --> 00:09:46.059 Oh, that's so important. It is. What motivates 00:09:46.059 --> 00:09:49.700 one employee might not do anything for another. 00:09:50.000 --> 00:09:52.879 Yeah, some people love public praise. Others 00:09:52.879 --> 00:09:55.100 are more introverted. They prefer something more 00:09:55.100 --> 00:09:57.820 low -key. Exactly. So you need to understand 00:09:57.820 --> 00:10:01.519 your team's preferences. Like, do they value 00:10:01.519 --> 00:10:05.519 opportunities for growth? Or is work -life balance 00:10:05.519 --> 00:10:08.009 more important to them? Yeah. And how do you 00:10:08.009 --> 00:10:10.110 actually figure that out? Like, how do you know 00:10:10.110 --> 00:10:12.629 what makes your employees tick? Well, Barbara 00:10:12.629 --> 00:10:15.549 Martel from Alliance Trade, she shared how they 00:10:15.549 --> 00:10:18.590 use stay interviews to get insights into employee 00:10:18.590 --> 00:10:21.190 preferences. Oh, that's interesting. Right. And 00:10:21.190 --> 00:10:24.210 retail leaders can adapt that idea. Yeah. Have 00:10:24.210 --> 00:10:26.330 regular check -ins with your teams. Mm -hmm. 00:10:26.750 --> 00:10:29.210 Just ask them what kind of recognition they value 00:10:29.210 --> 00:10:32.850 most. Simple but effective. And remember, your 00:10:32.850 --> 00:10:36.909 workforce is diverse. Different generations different 00:10:36.909 --> 00:10:39.429 roles, right? So you can't assume everyone wants 00:10:39.429 --> 00:10:41.549 the same thing Okay, so we've talked about a 00:10:41.549 --> 00:10:43.570 lot of different strategies, but it seems like 00:10:43.570 --> 00:10:46.149 the common thread here is that personal touch 00:10:46.149 --> 00:10:48.750 Yeah, it's about making people feel seen and 00:10:48.750 --> 00:10:51.649 valued and that circles back to what? Multimedia 00:10:51.649 --> 00:10:53.629 Plus was saying about those internal platforms. 00:10:54.029 --> 00:10:56.330 Exactly. Insight Post is a great example. It 00:10:56.330 --> 00:10:58.769 lets you give that targeted personalized recognition. 00:10:58.909 --> 00:11:01.470 And it keeps it all internal, which avoids those 00:11:01.470 --> 00:11:03.909 pitfalls of public social media. Exactly. So 00:11:03.909 --> 00:11:06.330 I think the big takeaway for all of you retail 00:11:06.330 --> 00:11:09.789 executives out there is this employee recognition. 00:11:10.070 --> 00:11:12.690 It's not just a nice to have. It's a must have. 00:11:12.830 --> 00:11:15.169 It really is. It's a core part of your talent 00:11:15.169 --> 00:11:17.909 strategy. Absolutely. And it has a direct impact 00:11:17.909 --> 00:11:20.269 on your bottom line. It affects engagement retention. 00:11:20.440 --> 00:11:23.480 the customer experience you deliver, and ultimately 00:11:23.480 --> 00:11:25.860 the success of your stores and your entire business. 00:11:26.299 --> 00:11:29.240 So as you're thinking about your own employee 00:11:29.240 --> 00:11:31.779 recognition programs, I want you to consider 00:11:31.779 --> 00:11:35.539 this. In a world where talent is so mobile, where 00:11:35.539 --> 00:11:39.879 people have so many options, how can you make 00:11:39.879 --> 00:11:42.360 your recognition programs a real competitive 00:11:42.360 --> 00:11:45.159 advantage? How can you create a culture where 00:11:45.159 --> 00:11:48.720 employees feel so valued and appreciated that 00:11:48.720 --> 00:11:50.379 they not only stay with your company, but they 00:11:50.379 --> 00:11:52.440 become your biggest advocates. They go out there 00:11:52.440 --> 00:11:54.580 and they tell everyone how great it is to work 00:11:54.580 --> 00:11:57.059 for you. That's the kind of impact we're talking 00:11:57.059 --> 00:11:59.980 about. And it all starts with recognizing the 00:11:59.980 --> 00:12:02.200 incredible contributions of every single member 00:12:02.200 --> 00:12:04.200 of your team. Well said. Thanks for joining us 00:12:04.200 --> 00:12:06.539 today for this deep dive into employee recognition. 00:12:06.779 --> 00:12:07.940 We'll see you next time. See you then.