Recent respected surveys show the way to your employees performance sweet spot is through recognition the survey suggest the following.
Recognition Keeps People Working Harder and Loyal to You
- 64% of UK workers would leave their job for a company that clearly recognised contributions.
- 90% said employee recognition motivates them to do a better job.
People Like Recognition, but Aren't Recognised Enough
- 86% said they like to have their efforts/contributions at work recognised
- 37% are dissatisfied with the level of recognition they receive for doing a good job
Recognition Frequency Is Directly Correlated to Key HR Metrics
- 70% of those recognised in the last month feel appreciated at their job vs. 11% of those never recognised
- 35% of those recognised in the last month plan to search for a new job vs. 44% of those never recognised
- 60% of those recognised in the last month are satisfied with the level of recognition they receive vs. 7% of those never recognized
Frustration around Executive Bonuses Is High
- Only 6% believe their organisation improved how they motivate and engage employees throughout the downturn
- 51% feel these elements had declined.
Funding Recognition - Use Bonus Budgets Better
- 87% believe the money spent on large executive bonuses could be better spent elsewhere in the business. When asked how they would spend this money, 35% call for an employee recognition programme.
- The negativity towards the impact of bonuses also extends to the employees themselves, as nearly half of UK employees said they'd prefer more frequent recognition than a yearly bonus.
So how do these stats compare with your company? From the feedback I get; those businesses that effectively track "Reason for Leaving" seem to confim the findings.
Author: Martin Shaw
About RecruitSmart Technology
Founded by Martin in 2012, RecruitSmart is a company focused on applying any combination of technology, on and off line marketing and communications and all their years of recruitment industry expertise to support a company's talent attraction, acquisition and management strategies.