Over the last few years we have collected many
quotes on statistics about employee recognition and employee engagement. Taken as a whole they seem to be formidable
evidence that employee recognition is a valid business strategy. Viewed one at a time most of these would
require additional facts to determine if employee recognition was a valid way
to improve engagement. Viewed
collectively however they certainly make a valid argument why your organization
should consider employee recognition.
Here are a few of those quotes tats that we feel
have merit when considering a program for your company:
“Career opportunities,
recognition, and organization reputation are consistently top engagement
drivers.” (Aon Hewitt, Trends in Global Employee Engagement)
“The
number-one reason most Americans leave their jobs is that they don’t feel
appreciated. In fact, 65% of people surveyed said they got no recognition for
good work last year” (Gallup, Tom Rath and Donald Clifton, How Full Is Your Bucket?
Positive Strategies for Work and Life)
“Organizations
with recognition programs which are highly effective at enabling employee
engagement had 31% lower voluntary turnover than organizations with ineffective
recognition programs.” (Bersin by
Deloitte, The State of Employee Recognition)
“Only
14% of organizations provide managers with the necessary tools for rewards and
recognition.” (Aberdeen Group, The Power of Employee Recognition, 2013)
“60%
of Best-in-Class organizations stated that employee recognition is extremely
valuable in driving individual performance.” (Aberdeen Group, The Power of Employee Recognition)
“41%
of companies that use peer-to-peer recognition have seen marked positive
increases in customer satisfaction.” (SHRM/Globoforce Employee Recognition Survey)
“46%
of senior managers view recognition programs as an investment rather than an
expense." (WorldatWork, Trends in Employee Recognition)
“Being
able to track the effectiveness of engagement and recognition efforts can help
organizations better align engagement with business objectives and improve
performance.” “43% of Best-in-Class organizations have access to metrics on
recognition efforts, compared to 18% of All Others.” (Aberdeen Group, The Power of Employee Recognition)
“Companies
with strategic recognition reported a mean employee turnover rate that is 23.4%
lower than retention at companies without any recognition program.” (SHRM/Globoforce Employee Recognition Survey)
In
2013, “67% of Best-in-Class organizations have a formal recognition
program in place, compared to 58% of Best-in-Class organizations in 2012.” (Aberdeen Group, The Power of Employee Recognition)
"In
those environments where opportunity and well-being are part of the culture,
strong manager performance in recognizing employee performance increases
engagement by almost 60%." (Towers Watson, Turbocharging Employee Engagement: The Power of Recognition
From Managers)
"Organizations
with the most sophisticated recognition practices are 12 times more likely to
have strong business outcomes." (Bersin by
Deloitte, The State of Employee Recognition)
"Peer-to-peer
recognition is 35.7% more likely to have a positive impact on financial
results than manager-only recognition." (SHRM/Globoforce Employee Recognition Survey)
"Praise
and commendation from managers was rated the top motivator for performance,
beating out other noncash and financial incentives, by a majority of workers
(67%)" (McKinsey Motivating People, Getting Beyond Money)
"Organizations
invest in recognition in a big way – spending roughly 1% of payroll on
recognition activities." (WorldatWork,
Trends in Employee Recognition)
"When
companies spend 1% or more of payroll on recognition, 85% see a positive impact
on engagement." (SHRM/Globoforce Employee Recognition Survey)
"In
those organizations in which individual employees or teams are recognized, the
entity’s average core for employee results was approximately 14% higher than in
organizations in which recognition does not occur." (Bersin by
Deloitte, The State of Employee Recognition)
"Recognition
is an important psychological need. Employees who know that they will receive
recognition for acting on the brand promise will have a strong incentive to do
so". (Gallup, State of the American Workplace)
"Our
research finds that those organizations with the most mature employee
recognition approach are 12 times more likely to have strong business results" (Bersin by
Deloitte, The Employee Recognition Maturity Model)
"When
asked what leaders could do more of to improve engagement, 58% of respondents
replied “Give recognition.” (Psychometrics,
A Study of Employee Engagement in the Canadian Workplace)
For
more information on Ultimate Choice Inc.’s products or services or other white
papers please contact us at Ultimatechoiceinfo@cox.net
