Rewarding & Motivating Employees

1. Rewarding & Motivating Employees Discussion Session #64

2. Overview • Types of Motivations • Exploration of what types of motivations to which you are most attracted • Discussion of company reward structures that you are aware of • Get into groups and make a list of the five most important motivators that you are looking for while job searching

3. Types of Motivations • Payment motivators (wages, bonuses, awards) • Material but non-payment motivators (partial financing of studies, foreign business trips) • Non-payment motivators (praises, approvals, diplomas, decorations)

4. What Type of Motivator Would You Prefer To Receive From Your Employer?

5. SCENARIO #1 • You are the team leader for an advertising project that attracted a multi-million dollar account. To recognize your accomplishment you would rather: • Your employer give you a raise • Your employer give you the opportunity to launch this project in Paris • Your employer host a celebration party to applaud your efforts and announce that you will be the head coordinator for next ad campaign

6. SCENARIO #2 • You & your coworkers completed a six month technology phase in four months. You would rather: • Your employer give you an early bird bonus • Your employer pays for a luxury weekend in upstate New York including gourmet food, luxury suites, the works • Your employer decides that your work is better spent on bigger projects and you will need a personal assistant to take care of your needs

7. SCENARIO #3 • Your sales totals for the quarter were 50% higher than last year’s totals for that quarter. You would rather: • Your employer offer you an incentive package with stock options • Your employer offer you a new corner office • Your employer hold a banquet to recognize your achievement

8. SCENARIO #4 • You work for United Way and head the grant writing team for this year’s technical equipment needs for 40 area NFPs. Funding came through above your request by 20%. You would rather: • Your employer add 2 weeks paid vacation to your benefits package • Your employer give you a laptop • Your employer allow you to write the article describing the success for the UW Newsletter with you name in the heading

9. SCENARIO #5 • You work for a PR firm in NYC and you landed your client an interview with David Letterman to discuss their new book. You would rather: • Your employer give you an expense account with your own corporate credit card • Your employer give you tickets to the MTV VMAs • Your employer award you PR Employee of the month

10. If you picked mostly: A’s: Payment motivators (wages, bonuses, awards) B’s: Material but non-payment motivators (partial financing of studies, foreign business trips) C’s: Non-payment motivators (praises, approvals, diplomas, decorations)

11. What Company Reward Structures Are You Aware Of?

12. Example: Professional Development Program • Reduces staff fluctuation • Reduces cost of recruiting and training new employees • Increases longevity of staff employment • Increases productivity and work quality

13. How important is career development to our companies on campus? • GE spends over $1 billion in career development per year • IBM offers over 700 hours of practical and theoretical learning per year

14. Career Development Continued • Deloitte offers educational assistance, a global development program, and professional certificate programs • Eli Lilly offers 100% Educational Assistance and “Lilly University” for in-house educational opportunities

15. The five most important motivators that I will look for in a company while job searching are…

16. Thank you & have a great night!