Designing Inclusion: Tools to Raise Low-end Pay and Employment in Private Enterprise


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Inclusive Growth: Profitable Strategies for Tackling Poverty and Inequality

Michael Orszag and Dennis J. Snower Index. Edmund S. Contributors Edmund S. Michael Orszag, Dennis J.

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How do you rate this item? Reviews must contain at least 12 words about the product. This title is available for institutional purchase via Cambridge Core Cambridge Core offers access to academic eBooks from our world-renowned publishing programme. Worker Absenteeism and Sick Pay. Migration The Controversies and the Evidence. The Economics of Self-Employment and Entrepreneurship.

Browse by related subject. Econometrics, statistics and mathematical economics Economic development and growth Economics: general interest Finance History of economic thought and methodology. Industrial economics International economics Labour economics Macroeconomics and monetary economics Microeconomics. At any given company, it's not uncommon for employees to feel that their best efforts are routinely ignored.

Further, employees who do not feel adequately recognized are twice as likely to say they'll quit in the next year.


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This element of engagement and performance might be one of the greatest missed opportunities for leaders and managers. Workplace recognition motivates, provides a sense of accomplishment and makes employees feel valued for their work. Recognition not only boosts individual employee engagement, but it also has been found to increase productivity and loyalty to the company, leading to higher retention.

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Beyond communicating appreciation and providing motivation to the recognized employee, the act of recognition also sends messages to other employees about what success looks like. In this way, recognition is both a tool for personal reward and an opportunity to reinforce the desired culture of the organization to other employees.

Gallup's data reveal that the most effective recognition is honest, authentic and individualized to how each employee wants to be recognized. Acknowledging employees' best work can be a low-cost endeavor -- it can be as small as a personal note or a thank-you card. But the key is to know what makes it meaningful and memorable for the employee, and who is doing the recognizing. In a recent Gallup workplace survey, employees were asked to recall who gave them their most meaningful and memorable recognition. What's most surprising about these findings?

Nearly one-quarter said the most memorable recognition comes from a high-level leader or CEO.

Designing Inclusion : Tools to Raise Low-End Pay and Employment in Private Enterprise

Employees will remember personal feedback from the CEO -- even a small amount of time a high-ranking leader takes to show appreciation can yield a positive impression on an employee. In fact, acknowledgment from a CEO could become a career highlight. When asked what types of recognition were the most memorable, respondents emphasized six methods in particular -- and money isn't the only or the top form of recognition:. The best managers promote a recognition-rich environment , with praise coming from every direction and everyone aware of how others like to receive appreciation.

This type of employee feedback should be frequent -- Gallup recommends every seven days -- and timely to ensure that the employee knows the significance of the recent achievement and to reinforce company values. The criteria for recognition should align with the purpose , brand and culture of the company and should reflect its aspirational identity to inspire others. Rewarding employees who are not top performers could adversely affect high performers' motivation.

Designing Inclusion: Tools to Raise Low-end Pay and Employment in Private Enterprise
Designing Inclusion: Tools to Raise Low-end Pay and Employment in Private Enterprise
Designing Inclusion: Tools to Raise Low-end Pay and Employment in Private Enterprise
Designing Inclusion: Tools to Raise Low-end Pay and Employment in Private Enterprise
Designing Inclusion: Tools to Raise Low-end Pay and Employment in Private Enterprise

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