An organisation is only as successful as the team who work within it.
Throughout my career, being part of a team environment was about productivity, benefiting the clients, and bring value to the business for its success. Having loyalty to the business and the team is crucial. It is often demonstrated when employees are being positiviely acknowledged and rewarded for their efforts and in doing so they feel valued and validated.
Many a leader should be aware of how dedicated their employees are, and also relieved for the hard work they put in, equally so most employees actually want to do the best job they can, so a leader needs to keep on top of things when there are declines in performance.
Employee recognition is a powerful tool that can have a positive impact on
employee morale, engagement, and productivity. On the flip side of things, tiana, (2023) states that when employees don't feel valued or respected they may find their mental health is impacted, this could also lead to outbursts, depression, anxiety stress, underappreciated even alienated (tiana, 2023).
THE NUMBERS ARE IN FOR EMPLOYEE RECOGNITION:
There are a number of employee recognition statistics that demonstrate the importance of this practice. For example, a study by Globoforce found that companies with formal employee recognition programs have 31% less voluntary turnover than companies that don't have any program at all (Globoforce, 2016).
Additionally, a study by SHRM found that 84% of HR professionals said employee recognition programs had a positive impact on employee engagement (SHRM, 2018)
These statistics show that employee recognition is not just a nice thing to do, it is also a smart business decision. When employees feel valued and appreciated, they are more likely to be engaged in their work, be productive, and stay with the company.
Employees save millions just by employment recognition.
For a consultation to mitigate high cost of turnover.
Here are some inconsistency in employee recognition statistics:
According to Gallup, those employees who receive recognition only a few times a year from leaders are:
5x as likely to be actively disengaged
74% more likely to say they do not plan to be at the organisation in one year
27% more likely to be struggling (Bloznalis, 2022)
These statistics show that employee recognition is a powerful tool that can have a significant impact on employee morale, engagement, productivity, and retention. If you are looking for ways to improve your workplace, employee recognition should be key focus.
Conclusion
As stated above, "an organisation is only as successful as the team within it." Employee recognition is a powerful tool that can have a positive impact on employee morale, engagement, productivity, and retention. If you are seeking to make business smart decisions, looking for success and ways to improve your workplace, employee recognition should be at the top of your list.
Citations:
Globoforce. (2016, December 13). Globoforce WorkHuman 2016 Wins Gold, Best in Biz Awards. Www.workhuman.com. https://www.workhuman.com/press-releases/globoforces-workhuman-conference/
SHRM. (2018, January 24). SHRM-Globoforce Survey: HR Professionals Indicate Recognition Programs Have Positive Impact on Retention and Recruitment. SHRM. https://www.shrm.org/about-shrm/press-room/press-releases/pages/shrm-globoforce-survey-hr-professionals-indicate-recognition-programs-have-positive-impact-on-retention-and-recruitment-.aspx
Bloznalis, S. (2022, December 16). Employee Recognition Statistics You Need to Know in 2022. Www.workhuman.com. https://www.workhuman.com/blog/employee-recognition-statistics/
tiana. (2023, May 11). 20 Major Signs That You’re Not Valued As An Employee. Konsistent. https://getkonsistent.app/signs-you-are-not-valued-at-work/#:~:text=You%20don
Workhuman. (2023, March 29). From Praise to Profits: The Business Case for Recognition at Work. Www.workhuman.com. https://www.workhuman.com/resources/research-reports/from-praise-to-profits-workhuman-gallup-report
Author Catherine Halse© 2023. All rights reserved.
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