Relationship Capital Rewards Is The Next Big Thing In Employee Recognition 🏆
The gamification market is expected to grow 48 percent by 2019. By utilizing game-like elements such as challenges and scoring to everyday activities, as well as rewarding valuable actions with badges, points and more, companies can better engage, understand and retain contributors.
With gamification, the key objective isn’t for a company to transform all its digital applications into a game. It is about rewarding the behaviors that are most closely aligned with the firm’s purpose, principles, and goals.
According to Gallup, Willis-Towers-Watson, you pick the research, 7 out of 10 employees have disconnected & disengaged from your organization’s mission. This is not only a career’s crisis but a leadership crisis when we have 70% of the employees not coming to work to make a difference by creating innovation and great client experiences.
A Strategic Way to Reconnect and Engage Employees
Gamification is the use of game-thinking and game mechanics in non-game contexts to engage users in solving problems. There has been incredible growth in the adoption of gamification by business the past few years. Gamification has been studied and applied in several domains, such as to improve user engagement, physical exercise, return on investment, data quality, timeliness, and learning. A review of research on gamification shows that most studies on gamification find positive effects from gamification
Peer SaaS — Performing Excellence-Engaging Recognition
Fortune 1000 firms are adopting gamification, but slowly. The research company Gartner predicts that by 2015 only 40% of the Global 1000 IT organizations will make gamification their primary technique for building employee engagement and transforming business operations.
One of the most powerful motivators for humans to engage with others and to contribute is when they can track their progress forward or backward. Passion and Purpose for work can be facilitated the same way, using feedback, measurement, and incentives so commonplace in the gaming world.
Business leaders will elevate their organizational cultures by more open communication and the free flow of information of their business purpose, performance, and leveraging gamification to support each employee’s understanding of their progress. As Dov Seidman, Founder of LRN states: Leadership is about taking people on a journey of significance and it starts with a T.R.I.P. Risk-taking creates Innovation which results in Progress. But you need high Trust or relationship capital is foundational to start this T.R.I.P.
Relationship Capital (RC) is an open standard process for capturing, measuring, and utilizing this intangible asset of trustworthiness. Gamification of Relationship Capital (RC) is a natural next step. Allowing leaders, professionals, entrepreneurs, and other stakeholders to earn RC for fulfilling promised commitments and building positive perceptions. To not only track your progress in achieving your tasks and objectives but to be inspired by the acknowledgment from another person when they “credit” your account with Relationship Capital (RC). Turning the “emotional bank account” into a game of purpose and performance will become strategic.
Why? Because how we connect, collaborate, deepen loyalty, engender trust, keep promises, and earn Relationship Capital (RC) is now the source of sustainable competitive advantage.
Turning these relationship capital behaviors into competitions or cause for reward with gamification gives workers an incentive for taking the desired actions. We believe companies should reward “actions of significance” across their digital and mobile applications, but other ideas for scoring include commitments, feedback, check-ins, joining live or recorded training events, posting comments, acknowledging peers, participating in polls and employee advocacy across social media.
Gamification (Relationship Capital) Rewards
These can come in many forms, such as points, badges, leaderboard rankings, discounts and free merchandise. However, one thing is certain: recognizing and rewarding employees, customers, and all key stakeholders develop more risk-taking that results in breakthrough innovation, less malfeasance, greater talent retention and higher financial performance.
Generating user data
With every click, point collected or achievement earned, workers are actively sharing information about themselves with their company and with their social network if appropriate. Not only is there an opportunity to collect more data, but the data collected through gamification is also more precise and valuable to both the organization and for example, the worker.
I never ask them, “Do you have badges?” I ask, “Do you make your users feel accomplished?”
― Yu-kai Chou
Conclusion
The combination of mobile, social media, and big data provides a gamification platform of interconnectedness, transparency, and measurement. Your technology-enabled and social prospects, customers, employees, partners, and other key stakeholders connect, collaborate, and make judgments that can reward or punish your business based on their perceptions of you, your products/services, and/or company entity.
By applying gamification to the social interaction process of earning “Relationship Capital Recognition and Recognition” we can better engage our employees to create distinction and win in this increasingly commoditized digital business world. Outcompete by Out-behaving the competition with the Gamification of Relationship Capital. We have already entered the frontier.
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