More no-cost ways to recognize employees.

• Author: Nelson, Bob
• Position: Rewarding Employees - Brief Article - Column

Previously, we discussed the fact that there are a number of cost-free ways for financial institutions to recognize their employees. We reviewed the power of giving employees interesting work to do. In this column, we'll look at four other techniques: giving information and feedback, creating involvement, granting independence and increasing employee visibility.

Giving information, communicating and giving feedback

Information is power, and your employees want to be empowered with the information they need to do their jobs better and more effectively. This is why new employees at Phelps County Bank in Rolla, Mo., are given a chart titled, "How We Make Each Dollar and How It Is Spent." The company president walks the new employees through the chart as part of their orientation--pointing out important figures along the way. Employees are more involved when they know their part in how the bank makes money and what they can do to help.

Involvement and ownership in decisions

Involving employees--especially in decisions that affect them--is both respectful and practical. People who are closest to the problem or customer typically have the best insight as to how a situation can be improved. They know what works and what doesn't, but often are never asked for their ideas. Encourage new ideas and initiative. As you involve others, you increase their commitment.

When John Rogener, program director for Citicorp/Citibank's transaction services training department, was directed by management to train 1,700 employees in object-oriented technology, he sensed that the training would not be effective: The employees would not learn the things that they needed to get their jobs done. Rogener came up with what he considered a better way and presented it up the organizational chain of command. Rogener convinced management to change the program's mission and to support his alternative plan for varied and smaller-scale training and development support services for his dents. Says Rogener "What's the bottom line? You have to believe in yourself. You must be responsible for your own decisions rather than letting the institute dictate to you."

Granting independence, autonomy and flexibility

Most employees value being given room to do their job as...