In a survey by OGO, 82% of Americans do not feel recognized for their contributions. Moreover, companies without an employee recognition program report a mean turnover rate 23.4% higher than companies with recognition, according to SHRM’s Globoforce Employee Recognition survey. Many companies struggle with managing their people and culture, but invest very little in the rewards and recognition needed to build it. This blog will highlight key aspects of a successful employee recognition program, and how it can improve engagement, culture, employee retention and ultimately profitability.
You spend money on technology. You spend money on sales and marketing. You spend money on real estate and awesome office space. What about the money that you're spending on your people?
I'm not talking swag, and I'm not even talking about training. I'm talking about the money you spend on your workforce to help them be successful and happy in your organization.