Conquering Corporate Culture-Building

The definition escapes many – what exactly is “corporate culture”? There is no doubt it exists and plays a crucial role in shaping the future of an organization, but how can both large and small business leaders use it to their advantage?  Gently guide your existing passive culture into one of organized intent Royal Recognition’s ultimate guide to building a prolific corporate culture.

  1. Leadership Consensus

It is inherently difficult to start at the top. If the leaders of an organization do not agree on what the desired culture should be, it will be impossible to spread. Ask questions such as:

How does your organization perform our best from day to day?
How would you describe your company in three words?
What holds our organization together?
To the average employee, what’s the best part about working here?

Find areas to improve, write it down and refer to it often. Everything leaders do from here on out should reflect this vision.

  1. Learn from Past Mistakes

The best way to effectively teach the culture is through storytelling. Conversational tones set a relaxed mood and encourage dialog that would otherwise not happen. Focus on a mix of success stories and stories from difficult situations for best effect. These tales have all grown from your current culture and will provide the necessary means to evolve.

  1. Hire Talented People with Different Business Backgrounds

This one is a no-brainer. Surround your business with talented, creative individuals with motivation to propel cultural goals farther. More importantly, hire those with backgrounds different from other key leaders. While it’s easy to click with people of similar experiences, you won’t gain the perspective needed to successfully spread your new direction and make it stick.

  1. Believe in Yourself, and Convince Others to Believe
    No, this isn’t Peter Pan–we’re talking about the backbone of your company. You can’t just clap your hands and expect employees to adopt the new direction leadership has prescribed. They need to live it. This can be presented on a large or smaller scale (think an all-inclusive training experience for employee, Peerceive® an internal buddy-training approach that emphasizes the organization’s mission). Convince employees to believe in your organization and they will stick around longer, work harder and produce more than they ever have before.
  2. Align Goals with Rewards
    Now that you’ve conquered items 1-4 on the list (you did, right?) it’s time to reward employees that contribute to the cause. Rewards come in a variety of different shapes and are situational dependent. If one of your cultural goals is to promote teamwork and collaboration, consider a company outing or implement a Peer-to-Peer recognition system like Peerceive®. Focusing on personal improvement as a means to better business? Offer rewards that focus on individuals such as career milestone https://royalrec.com/solutions/milestone-recognition/ awards for furthering cultural goals. The worst damage any business can do is to not offer any reward at all.

In consciously guiding an organization’s culture, companies create a workplace that people are excited to be in and do their best work. Organizations with clear cultural vision are far more successful than those that exist by default. The good news is, if you already have a culture in play, you have the means to change it. Be patient, stick with it and you too will see the fruits of labor.

Royal Recognition provides a variety of career milestone programs, peer-to-peer recognition programs, company stores and much, much more. Please visit us at www.royalrec.com | www.peerceive.com or contact us at: sales@royalrec.com.

Did you know your employee service award program is tax deductible?

In a day and age where most companies are looking to reduce costs and cut expenses there is an area in employee recognition where companies still have a great tax advantage with Safety and Years of Service Employee Achievement Programs.

Per IRS guidelines: A employer may deduct the cost of achievement awards given to the same employee up to $400 in any year. If the incentive awards are awarded as part of one or more established written plans or programs of the employer, the $400 deduction limitation is increased to $1,600 per employee. This means that if your company establishes a formal safety or years of service program, the company can award up to $1,600 for an individual employee but no more than $400 per employee for all employees. Please note new guidelines for service awards of less than 5 years and certain dollar amounts may not qualify.

An “employee achievement award” is defined in the Internal Revenue Code (IRC) as an item of “tangible personal property” transferred by an employer to an employee for safety, achievement or for length of service. More over the award must be given as part of a meaningful presentation and cannot be disguised as compensation to the employee.

There is a common belief that gift certificates and debit card rewards do not have to be taxed since they are not cash. They are in fact taxable. Here is the IRS summary of what the tax code section says:

“An incentive award cannot be in the form of cash or a gift certificate (other than a non-negotiable certificate conferring only the right to receive personal tangible property). Any certificate that may be converted to cash is not “tangible personal property” and cannot qualify for preferential tax treatment.”

So, when your management team asks your HR department “how much is this service award program going to cost our company?”  – you can pleasantly reply “it’s tax deductible”

Nice to know the IRS still thinks it is very important to recognize and reward employees and provide employers with great tax benefits.

Royal Recognition has been providing employee service award programs and safety programs since 1983 to over 1500+ corporate clients worldwide. Please contact us at sales@royalrec.com or visit us at www.royalrec.com.

workforce recognition, teamwork

The Times They Are A-Changin’

workforce recognition, teamwork

Employees rely on the corporate cultures that leaders build to grow their careers. A passive corporate culture will fail to awaken the fire within open-minded and goal-oriented Millennials. To fully utilize the young professional generation and ignite their entrepreneurial spirit, businesses need to shift their cultural focus from one of compensation.

The Millennial generation does not look for positions that keep them afloat; they want to enjoy their work and the companies that they work for. A recent study showed that almost two-thirds of millennials would rather make about $40,000 a year in a job that they love than $100,000 a year at a job that they find boring. Making an impact and knowing they are essential to a business is crucial.

Businesses that create working environments supporting day-to-day collaboration appeal most to junior employees. Digital tools make it easier than ever to achieve this. Peerceive® is a SAAS program that fills the recognition gap from hire date, first service award milestone and any day in between via colleague interaction. Reinforce positive communication between co-workers; increase trust and inter-personal relationships by way of colorful badges, fun e-cards and physical rewards.

Millennials are the future of business. Utilize their need to achieve and watch your organization soar to new heights.