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8 Benefits of Employee Recognition

8 Benefits of Employee Recognition Higher motivation 1 Praise and commendation from managers was rated the top motivator for performance, beating out other noncash and financial incentives, by a majority of workers (67%) Lower employee frustration Organizations with strategic recognition programs in place exhibit 28.6% lower frustration levels than companies without recognition programs. Improved retention rates Companies with strategic recognition reported a mean employee turnover rate that is 23.4% lower than retention at companies without any recognition program. Better performance "60% of Best-in-Class organizations stated that employee recognition is extremely valuable in driving individual performance." 4 Improved customer satisfaction rates 5 41% of companies that use peer-to-peer recognition have seen marked positive increases in customer satisfaction. Increased revenue Peer-to-peer is 35.7% more likely to have a positive impact on financial results than manager-only recognition. W Broader Engagement 7 When companies spend 1% or more of payroll on recognition, 85% see a positive impact on engagement. Enhanced employee satisfaction 8 When asked what leaders could do more of to improve satisfaction and engagment, 58% of respondents replied "Give recognition." { A GraphicSprings.com Infographic. O LINK ATTRIBUTION REQUIRED Source: http://www.globoforce.com/gfblog/2014/25-great-statistics-on-employee-recognition/

8 Benefits of Employee Recognition

shared by EFraser on Mar 06
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Today is Employee Appreciation Day! This is a great opportunity for owners and managers to shine. Employee recognition shouldn't be limited to a single day however. Here are 8 benefits of employee rec...

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