Ignore Employee Recognition and You’ll Be Sorry
February 8, 2013
Employee recognition isn’t a fluffy concept. Here are five ways it can actually drive bottom line results.
When done right, a recognition program can unite a workforce around the behaviors and values that drive business forward through positive reinforcement. Talent leaders can make values more than a plaque on the wall by relating them to employees’ day-to-day work through recognition.
During the past decade, tactical approaches to recognition have been transformed into strategic initiatives by tying in elements of performance management and better aligning employees to a company’s core values and corporate goals.
According to a 2012 SHRM/Globoforce survey, 58 percent of HR leaders observed a return on profit margin as a result of their recognition program. This research preceded a separate study from Bersin and Associates, which found that companies that excel at employee recognition are 12 times more likely on average to generate strong business results than their peers.