Rewards and Recognition Can Expand Its Power as a Tool for the Voice of the Employee

Rewards and Recognition Can Expand Its Power as a Tool for the Voice of the Employee

This IDC Market Perspective discusses how rewards and recognition can expand its power as a tool for the voice of the employee (VoE).Employees are reevaluating what it takes for them to join and stay with their employers. IDC recently found that the top priorities for employees to stay committed to their employer are centered on aspects of work-life balance supported by a stronger culture of inclusion at work. While inclusion is often concentrated as a component of the organizational diversity, equity, inclusion, and belonging (DEIB) mandate, by itself, it has a broader application to how employees feel acknowledged, included, heard, respected, and responded to at and around the culture and style of work.When it comes to EX-led work transformation, some organizations are already on the maturity curve, while others may be at the beginning or optimizing off the end of major change. Organizations that are moving the needle further to elevate the voice of the employee into how the organization changes to reflect modern work styles, norms, and needs are integrating rewards and recognition into their VoE strategies."The modern rewards and recognition use case is beginning to expand beyond traditional entry points and goals housed within total rewards and compensation teams," notes Zachary Chertok, IDC research manager for Employee Experience. "While rewards and compensation teams are still viable stakeholders for rewards and recognition, new opportunities are emerging to position rewards and recognition as an integral component of VoE that helps drive organizational EX transformation.""When positioned as part of the HR-led EX transformation strategy, rewards and recognition tools have a broader opportunity to appeal directly to HR, operations, and IT leaders as a source of integral data with which employees are already comfortable sharing and engaging. In the context of VoE, rewards and recognition can help add a lot of context to enterprise resource management and financial decisions surrounding employees' ability to grow and improve on performance."

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