MBlog

No Debating the Value of Employee Recognition

Written by Mike Ryan | Oct 26, 2016 8:19:26 PM

After three contentious presidential debates (not to mention numerous clashes throughout the primary season), we can all finally agree on one thing—we are sick and tired of debates!

Fortunately, there is no debating the value of employee recognition.

Organizations that consistently recognize their workers have higher levels of commitment and loyalty. Their employees’ engagement drives better business outcomes and does so across every conceivable measure. Did you know that companies in the top quartile of employee recognition activity boost higher profits, richer revenues and stronger customer advocacy? They also have less absenteeism among workers and fewer safety incidents in the workplace. Simply stated: engaged workforces outclass all others.

There is no disputing the relationship between regularly recognized employees and organizational performance. But the flip side of that correlation is equally telling. Higher levels of disengagement adversely impact operating income, sales results and shareholder value.

While politicians will argue foreign and domestic policy issues until they are blue in the face, there is no disagreement among savvy business leaders that an employee recognition philosophy is a sound strategy. HR executives in particular know that consistent, timely and positive feedback is what makes companies perform better. The smartest also know that involving the entire organization in both the giving and receiving of recognition is a force multiplier—a factor that grows the business benefits exponentially.

So how can you implement such a high-performing, all-encompassing strategy without breaking the bank? Stay tuned for my next posting and I will share with you how we are helping companies do just that.