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The Business Value of Thank You

globoforce THE VALUE OF THANKING EMPLOYEES EMPLOYEES WANT Appreciation and recognition are major drivers of employee job satisfaction & happiness. ТО ВE APPRECIATED praise from manager 67% EMPLOYEES ARE MOTIVATED BY attention from leaders 63% opportunities to lead 62% 67% cash bonus 60% PRAISE FROM MANAGER $ increase in pay 52% stock/options 35% 78% 65% of people would work harder in their jobs if they were recognized. of working Americans say they receive no praise or recognition on the job. - Spring 2012 Globoforce Mood Tracker - Gallup STRATEGIC RECOGNITION DRIVES ENGAGEMENT LACK OF RECOGNITION DRIVES TURNOVER Say “thank you" to your employees and watch them thrive. Ignore your employees and watch them walk out the door. 14% 46% more turnover in companies with ineffective recognition programs. Organizations where recognition occurs have 14% better employee engagement, productivity and customer service than those without. - Bersin & Associates - Bersin & Associates SAMPLE TURNOVER COSTS: Company with 10,000 Employees 000 70% 10% 20% AWARDS, RECOGNITION & PRAISE Entry Level Senior mgmt Mid- mgmt "Awards, recognition and praise might just be the single most cost effective way to maintain a happy productive workforce." - Wall Street Journal Average Annual Salaries $30K $70K $150K WHO IS JOB SEARCHING? of those who do not feel appreciated Cost to Replace (@75% of salary) 60% of those who don't feel $22.5K $52.5K $112.5K appreciated are looking for a job. AND WHO IS NOT? Annual Loss of Talent (@11% turnover) 770 people 220 people 110 people 80% of those who feel appreciated are staying put. AS MUCH AS Spring 2012 Globoforce Mood Tracker $41.3MM in bottom line turnover costs ENGAGEMENT DRIVES ROI Study after study shows that high employee engagement is linked to better business results and more shareholder value. ENGAGED EMPLOYEES ARE MORE PRODUCTIVE EMPLOYEES INCREASES OPERATING INCOME 12 month change in operating income "Research has shown that engaged employees are more productive employees. The research also shows that engaged employees are more profitable, more customer focused, safer and more likely to withstand temptations to leave." - Gallup - Towers Watson Companies with low INCREASES OPERATING MARGIN engagement +19.20% -36.50% Companies with high Workforces with high sustainable engagement had one year operating margins 3X that of companies with disengaged workforces. engagement 2$ -Towers Watson STRATEGIC RECOGNITION DRIVES BUSINESS RESULTS SOURCES: Aon Hewitt, Bersin & Associates, Gallup, Globoforce, McKinsey, Towers Watson O Globoforce Limited. All rights reserved. McKinsey Global Survey (June 2009)

The Business Value of Thank You

shared by kdevincent on Sep 04
In honor of the Labor Day holiday, we’ve put together this little infographic as a visual reminder of the bottom line business value that comes from appreciating your workers.




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