We’ve all
seen surveys that address employee satisfaction relevant to job
performance. While we are always
hesitant to report on these surveys for a variety of reasons, collectively they
can form a solid impression when addressing specific subjects. In the case of employee recognition,
following is another set of statistics recently released through the Employee
Engagement Alliance. Without knowing the
methodology employed in conducting the survey or specific definition of terms
used, in general the results might be something you may to consider:
- The number one reason employees leave their job is because they feel underappreciated
- Employees who are highly satisfied with the job are 12% more productive
- Sales reps with high job satisfaction levels produce 37% more sales
- Peer to peer recognition produces a 41% improvement on customer satisfaction
- Companies with formalized recognition programs have 31% less voluntary turnover than those who don’t have one
- Peer to peer recognition has a 37% greater positive impact on financial results than manager only recognition
- 85% of companies that spend at least 1% of payroll on a recognition program report a positive effect on engagement
- Thanks and praise tops financial incentives for 67% of employees
- Less than 15% of companies provide managers the tools or information they need to implement effective employee recognition systems
You all
heard the expression about how ‘figures can lie’, etc. Research is often conducted by companies as a
way to enhance their selling proposition with “facts” that support their
positions, making their products and services easier to sell. We are not a
research company, and we have no way to validate the above points. But the one thing we do know is that employee
recognition does work and will produce positive results. We do know that a satisfied employee base is
a powerful influence on the success of a company. We have seen through the implementation of
hundreds of recognition programs that it works.
For more
information on Ultimate Choice Inc.’s products or services or other white
papers please contact us at Ultimatechoiceinfo@cox.net
