By now, everybody should be on board with the importance of having an effective recognition program. Employees want to feel good about their performance and appreciated for their time and efforts. But a solid recognition program isn’t just about making people happy. Consistently administered and communicated, it will yield positive results throughout your organization.
Did you know that:
- Organizations with a recognition program have 14 percent higher employee engagement, employee productivity and customer satisfaction.1
- Effective recognition programs lower voluntary turnover rates by 31 percent. 1
- Organizations with strong recognition programs and practices are 12 times more likely to have strong business outcomes.1
- 41 percent of organizations using peer-to-peer recognition report significant positive increases in customer satisfaction.2
- 85 percent of organizations who invested 1 percent or more of payroll on recognition saw a positive impact on employee engagement.2
By boosting employee engagement, recognition programs also lower the incidence of on-the-job accidents, reduce absenteeism and enrich teamwork. Award Concepts has tons of ideas to help you enhance your recognition program – give us a call and see some positive results in your own workplace!
1Bersin by Deloitte, 2012
2Society for Human Resources Management, 2012