ReImagining Recognition
In volatile markets and uncertain times, tangible metrics often take the spotlight. Yet, a crucial component – the power of recognition – cannot be overlooked. A wise lesson from Michael Gould, the former CEO of Bloomingdale’s, always resonates with me. He once remarked, “People won’t remember the numbers, but they will remember the way you made them feel.”
At Very, this sentiment is at the core of our cultural framework. We are steadfast in our belief that recognition shouldn't merely be a top-down approach or reserved for a select few.
Every month, each team member is allocated a certain dollar amount. However, this isn't a bonus for themselves but an amount they can distribute among their colleagues to show appreciation. These recognitions typically range between $1-$5.
It isn’t just about the money. Each of these monetary appreciations is paired with a heartfelt shoutout that aligns with one of Very’s core values. This isn't done in isolation either. Each shoutout graces our #applause Slack channel, turning individual recognition into a communal celebration. Colleagues from across different departments can see, and even amplify, these shoutouts.
By decentralizing recognition, Very is challenging the conventional corporate hierarchy. Instead of waiting for appreciation to trickle down, we empower every member of our team to be both a giver and a receiver of praise. This creates a ripple effect of positivity and reinforces the feeling of being valued.
In fostering a culture where recognition can emanate from any corner, we are not just celebrating achievements but also nurturing bonds, solidarity, and mutual respect.
