Employee recognition has a positive impact on productivity and retention. It extends to staff loyalty, engagement, product creation, productivity, and customer service.
The idea that people are more likely to be loyal to their caregiver than to a particular firm or institution may help business executives put things in perspective.
Things will be a little more interesting now that you’ve added some recognition value.
So, have a look at our list of employee recognition data, which will also alert you to the dangers of working in a discouraging workplace.
At least 53% of employees report feeling wearier after the COVID-19 pandemic broke out.
Harvard Business Review recently conducted a poll and found that 53% of employees reported feeling wearier.
As a result of people working from home during the pandemic and juggling their job and personal life, weariness is inevitable.
Organizations’ top management must discover measures to ensure that their employees can better balance their personal and professional life, as this will be the “new normal” for many.
Boredom is cited as the top cause for one in three employees leaving a job.
Employees in the market benefit significantly from working in a setting that keeps them on their toes.
In this way, employees don’t get bored with their work; they’re more likely to accomplish their best work in a dynamic work environment.
Furthermore, one-third of workers leave their jobs because they are bored; businesses must find ways to keep their workers interested and thus keep them around for longer.
Customers were more satisfied and loyal to companies with engaged employees by 89%, compared to companies with disengaged employees by 50%.
Employees passionate about their work have a positive impact on both the company’s internal operations and the company’s external customers.
According to research, 91% of customers were happier with an engaged employee.
According to data on workplace engagement, a business would go out of business if it cannot bring in new customers and maintain the loyalty of existing ones.
You can do this by keeping your staff engaged and making them feel like they have a stake in the company’s long-term success.
Employee productivity can rise by 11.1% with the support of a well-thought-out recognition program.
Recognition is one of the best ways for employees to receive positive feedback for their work.
They have come to terms with the fact that their activities align with their objectives.
Others in the company will likewise be inspired to work harder to reach their goals.
Recognition programs designed by platforms such as Bravo help achieve such objectives quite effectively.
Twenty-seven percent of workers worldwide leave their jobs due to a lack of recognition and rewards.
Randstad released a global report in 2018 based on a survey of more than 175,000 people in 30 countries. According to a new survey, employees are leaving organizations because they feel undervalued and underappreciated.
Employees who feel appreciated at work are more likely to stay with the company.
Also, worldwide recognition programs push employees to perform better in their professions by bringing out the best in them.
Employers who are having difficulty retaining their staff can consider innovative methods of recognizing their employees and providing opportunities for professional growth for their team.
Read More: Maximize Your Employee Performance Using Bravo Points!
Conclusion
Only by making sure that your employees share your passion for the company’s success will you achieve your objectives. Making reasonable adjustments in the workplace based on the appropriate employee engagement statistics can significantly impact your company’s growth.
Learn how to make good use of employee rewards and recognition programs via Bravo.
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FAQ’s
What is the percentage of employees that feel recognized in important ways?
Employee recognition is a $46 billion market around the globe. Employers may use data on employee recognition to better reward and recognize their staff.
According to a recent poll, 37% of employees value their coworkers’ appreciation the most. A 59% reduction in turnovers is common among teams in the top 20% of team engagement. A whopping 34% of Americans say they are actively involved in their jobs. 53% of American workers are not engaged, according to Gallup’s employee engagement stats for the year 2014.
Despite these facts, many employees have not gotten any acknowledgment for their hard work in the past year. They will stop producing if they don’t feel acknowledged for their efforts.
How effective are employee recognition programs?
Recognition programs for employees can positively impact employee health, contentment, and well-being.
According to Hero & Mercer’s findings, firms that recognize their employees’ healthy behaviors and outcomes see a 91% increase in population health and an 87% decrease in medical plan costs.
In addition, 85% of HR leaders believe that employee recognition programs positively impact company culture, and 83% believe that employee recognition programs benefit company values.
Does employee recognition increase productivity?
Employee appreciation in the customer experience can boost productivity by enhancing employee engagement and fostering more vital teamwork. Gratitude and praise are powerful tools for motivating people, boosting morale, and achieving organizational objectives.
