In today’s business management, employees recognition has become a significant tool for HR specialists that helps them to keep their employees engaged.
However, some of the companies are still using and stick to old methods and techniques and they are fighting against the odds. If you are tired of fighting and the old methods then do have a look upon the employee’s reward stats that might help you get out the situation.
Statistics One Should Not Miss
Published in Bersin and Associates, “55% of the employees agree that the quality of their company recognition program affects their job performance”
Improved Customer Engagement
Studies from the psychometrics said, “When asked what leaders could do more of to improve engagement, 58% of the respondents replied, GIVE RECOGNITION“.
“70% of the employees feel that gamification would not be a positive addition to recognition”.” stated in Globoforce.
Appreciation of Employee’s Efforts
Socialcast covered it, “69% of the employees would work harder if they felt their efforts were better appreciated.”
Rewards and Recognition
“Only 14% of the organizations provide managers with the necessary tools for rewards and recognition.” stated in Globoforce.
Peer to Peer Recognition
Globoforce also stated that “41% of the companies that use peer-to-peer recognition have seen a positive increase in customer satisfaction.”
Recognition from Manager
According to the cicero group, “50% of the employees believe being thanked by managers not only improved their relationship but also built trust with their higher-ups.”
It has shown in the studies that, “Millenials required immediate recognition for accomplishments.”
Advertising recognition programs
“14% of the companies indicated that their organization advertises recognition programs regularly when recruiting.” stated by WorldatWork.
Spending on incentive programs
According to the HRM reports, “US organisations spend over $100 billion annually on incentive programs.”