Employee rewards have become essential in today’s working space. However, how much do you know about them?
Read these surprising statistics on employee recognition to find out more:
1. 47% of employees want to receive rewards spontaneously (Xexec)
2. Employees who feel their rewards meet their needs are 7x more likely to be engaged with work compared to employees who don’t feel that way (Alight Solutions)
3. In 2018, 23% of employees said their rewards are below or well below those of other companies, up from 15% in 2015 (Alight Solutions)
4. More than 70% of employees agreed that fringe benefits would be a key consideration in evaluating future jobs (Zenefits)
5. 55% of businesses think that stronger engagement would improve their ability to either retain, recruit or carry out succession planning (CBI)
6. 64% of millennials say benefits are extremely or very important to employer loyalty (Qualtrics)
7. Dissatisfaction stems from employees’ need for additional benefits (57%), the desire for benefits they currently don’t have (24%), benefits they can’t use (22%) and benefits they feel pressured not to use (8%) (Clutch)
8. 73% of organizations have an employee recognition awards program in place (Globoforce)
9. Companies using incentive programs report a 79% success rate in achieving their established goals when the correct reward is offered. (ThinkSmart)
10. 65% of employees prefer non-cash incentives. (Incentive Marketing Association)
11. 88% of employees agree it’s important that employers reward employees for great work. (AttaCoin)
12. 90% of employees who work in organizations with effective rewards programs agreed with the statement “my work makes a difference”. (AttaCoin)
13. Over 65 % of employees surveyed strongly agree that both travel and merchandise awards are remembered longer than cash payments. (strategicincentives)
14. Only 14% of organizations provide managers with the necessary tools for rewards and recognition. (Globoforce)
15. 38% of employees want to receive rewards in exchange for good work. (Xexec)
Read More: 10 Stats About Employee Rewards To Make You Look Smart Around The Water Cooler
Conclusion:
Employee rewards play a pivotal role in motivating and retaining top talent. The surprising employee recognition stats shed light on the significant impact they can have on your organization’s success. With BRAVO, you can harness these insights and take your rewards program to new heights. Don’t wait any longer to explore the remarkable possibilities; embark on a transformative journey toward a highly engaged and motivated workforce.
Ready to uncover the surprising statistics about employee rewards and revolutionize your recognition strategies? Book a demo of BRAVO today to experience how our powerful platform can enhance employee engagement, boost productivity, and drive exceptional performance. Take the first step towards leveraging the latest insights and unlocking the true potential of employee rewards – Book your demo now!
