A Few Mind Blowing Stats on Employee Recognition
Employee recognition isn’t a fad. It’s a must-have for organizations that value employee engagement and retention. When you think about it, a company’s recognition program can either lock people in or push them out the door.
Going even deeper into the issue, showing appreciation for employees can actually drive your financial returns through the roof. Better productivity, customer service, and product development are just some of the outcomes of employees feeling valued.
87% of recognition programs focus on tenure
From Bersin & Associates
Having an employee stick around for 20, 10, or even 5 years is something to celebrate — there’s no doubt about that. But it shouldn’t be the only thing that should be celebrated about the person. Can you imagine going a full year without receiving any type of recognition? Well, that’s what you’re doing when you focus only on tenure.
Recognition should focus on an employee’s contributions and efforts. If they’ve done a great job, let them know on the spot. Just because someone’s stuck around for who-knows-how-long and has been as productive as a lump of coal in a chair, then does this person truly deserve the recognition?
When asked what leaders could do more of to improve engagement, 58% of respondents replied “give recognition”
By now, it’s a well-known fact that employees aren’t feeling valued at work. And honestly, there really is no such thing as “too much recognition.” If you really want to keep your employees, motivate them through recognition. That simple validation has the power to drive productivity through the roof.
Millennials require immediate recognition for accomplishments
From York College of Pennsylvania’s Center for Professional Excellence
If you wait a week or so to give recognition, your employee may have already forgotten what they did. Time is of the essence when it comes to showing gratitude. Let them know now instead of later because that extra bit of morale boost does wonders for your bottom line.
69% of employees would work harder if they felt their efforts were better appreciated
Recognition drives productivity. Think about it: back in grade school, teachers rewarded students with a gold star for their great work. And that, in return, pushed students to work even harder to get those shining stickers. Who’s to say that doesn’t work for adults?
People want to get recognized for their contributions. They want their work to have meaning. And when you are slacking on recognition, it’s essentially the same as ignoring their existence.
For the complete article by Sabrina Son, please go to:
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