Minto Group's Dave Bond on making peer-to-peer recognition part of their DNA | Summary and Q&A

TL;DR

Recognition programs have become an integral part of workplace culture, with peer-to-peer recognition being the most utilized form.

Key Insights

• 💪 Early adoption of the recognition program suggests a strong desire for employee recognition.
• 💁 Peer-to-peer recognition is the most utilized form of recognition, indicating a tight-knit workforce.
• 💪 The program reinforces the company's strong sense of community and family-like atmosphere.
• 💯 Employee engagement surveys consistently show high scores for recognition.
• 🙈 The recognition program is seen as an important pulse check for employee engagement levels.
• 😘 Lower attrition rates can be attributed to the recognition program.
• ⌛ Implementing a recognition program requires time, education, and practice for effective communication and interaction.

Transcript

I think the story of our evolution is how important it has become as part of our culture very early on we had quite High adoption from kind of the get-go which was really really good it kind of indicated us that maybe we had this pent-up demand for people to want to recognize their colleagues we do seem to have a very tight-knit cohort of employees... Read More

Questions & Answers

Q: What forms of recognition were in place before the program was rolled out?

Before the program, there were various ways employees could recognize each other, but the frequency and metrics were unknown.

Q: How does peer-to-peer recognition compare to manager-to-direct report recognition?

Peer-to-peer recognition is significantly higher in utilization compared to manager-to-direct report recognition, showcasing the strong bond between colleagues.

Q: Has the recognition program positively impacted employee engagement?

Yes, the organization's Employee Engagement survey consistently shows high scores for recognition, indicating that employees feel valued and recognized.

Q: How has the recognition program affected attrition rates?

The organization has lower attrition rates as a result of the recognition program, highlighting its role in retaining employees.

Summary & Key Takeaways

• Early adoption of the recognition program indicated a pent-up demand for employee recognition.

• Peer-to-peer recognition is the most commonly utilized form of recognition in the company.

• The recognition program has become a part of the company's DNA and reinforces its strong sense of community.