A Guide to Employee Recognition

A Guide to Employee Recognition

• 1.
  This infographic isbrought to you by RPG Card Services, the industry leader in prepaid card solutions. Assess your organization to determine program goals, performance factors that affect those goals, and overall state of employee engagement/job satisfaction. Get buy-in from company leadership. Get pre-launch feedback from employees — it helps you fine-tune like nothing else! Your program will die on the vine without careful measurement and reporting. Without seeing results, employees and leadership will soon shift focus elsewhere. Establish regular, consistent communication of program results throughout your organization. Key: Communication must be energetic and have emotional appeal. Use measurements and ongoing dialog with employees to continuously improve. The worst day of your program should be the first day. Construct a program that focuses on rewards for activities that contribute to program goals — keep it simple, measurable and scalable. Evaluate Sell It Measure Communicate Assess and Improve Create How to Implement a Recognition Program in 6 Steps $100 Billion A mere 14 percent of companies provide managers with the tools and information they need to create effective recognition programs. The No. 1 reason people leave their job: feeling unappreciated. Employees with high job satisfaction are 12 percent more productive. 12%#1 U.S. organizations spend more than $100 billion on incentive programs. Sales reps with high job satisfaction produce 37 percent more sales. 37% 37% 41% 67%85% 31% Companies with a formal recognition plan have 31 percent less voluntary turnover. Peer-to-peer recognition has 37 percent greater positive impact on financial results than manager-only recognition. Peer-to-peer recognition produces a 41 percent improvement on customer satisfaction. 85 percent of companies spending 1 percent or more of payroll on a recognition program report a positive effect on engagement. Praise beats financial incentives for 67 percent of employees. 14% 10 Things You Didn’t Know About Employee Recognition 1 2 3 4 5 6 SECTION 2 SECTION 1 Recognizing employee performance is THE best way a company can increase productivity, reduce absenteeism, and improve workforce engagement and retention. The results will be dramatic. If you’re not convinced — review Section 1. If you’re not sure how to implement a program — review Section 2. A GUIDE TO EMPLOYEE RECOGNITION