HR Professional Dives into the Benefits of Employee Recognition

Our company distributed a survey among thousands of HR professionals to discover the impact employee recognition programs have on employees and workplace culture. Read on to see what seasoned HR pro Dan Cross has to say about the results:  

Entertainment Benefits Group Corporate Programs Division is excited to share that it has officially launched its new Reward Management Solution for employers

As I glanced at the data, the first number that stood out to me was 94 percent. I was not surprised to see that HR professionals almost universally believe employee recognition programs help to engage, motivate, recruit, and retain employees. I was more shocked at the 6 percent of my professional peers who don’t feel that these programs accomplish those goals and/or don’t offer a program to employees. I was also taken back by the 65 percent of employers who feel that their recognition programs have room for improvement. Which led me to ask, why? So, I turned back to the survey for more answers.

ebg-employee-recognition-infographic-2_650

In my experience, employee recognition programs are one of the best tools for employee engagement. In fact, the survey revealed that employees enrolled in a recognition program are 40 percent more engaged than those who are not. Employees of all ages, but particularly millennials, are seeking jobs that offer them experiences that are in line with their hobbies, interests, passions and that allow them to create that perfect ratio of work-life balance. Companies who do this tend to have happier, more engaged employees who are vested in the company and its mission.

ebg-employee-recognition-infographic-3_650

Similar to many respondents of this survey, I’ve personally noticed recognition is primarily anchored around tenure (86 percent), performance (63 percent) and life celebrations (53 percent).

ebg-employee-recognition-infographic-4_650

Nevertheless, it was interesting to find out that HR professionals reported making employees feel valued (90 percent) and creating a positive work environment (81 percent) as the top two goals of their recognition programs. With the increased trend of rewarding employees for wellness initiatives, fulfillment of an organization’s mission/values, charitable giving and peer-to-peer recognition, it was refreshing to see that these goals are supplemental to the core purpose and value of a recognition program – to make employee happy and feel valued for their daily contributions.

ebg-employee-recognition-infographic-5_650

As a young professional in HR, it was exciting (and a bit unnerving) to receive recognition for my five-year work anniversary a few weeks ago. At 81 percent, survey respondents acknowledged that employees find gift certificates to be the most valued reward followed closely by dining certificates (41 percent) and movie tickets (35 percent). Dinner and a movie would have been great, but I did not receive any of those things. That doesn’t mean I didn’t truly appreciate the recognition though, and it’s important for HR professionals to keep the whole picture (personalization, reward type, messaging, presentation, etc.) in mind when it comes to an employee’s perception of their recognition programs.

ebg-employee-recognition-infographic-8_650

So, armed with all this information, why the heck do we all not have established and robust employee recognition programs? Well, here is where I found the answer to my very first question. The factors identified as top challenges in regard to rewarding employees are ones we as HR professionals know all too well – limited resources (57 percent), cost (57 percent), and time (49 percent).

ebg-employee-recognition-infographic-6_650

Any recognition program will require some type of financial investment as identified in the survey, and companies seem to be investing because they know the importance the program will have on their organization as a whole. Two thirds of companies with recognition programs set aside more than $50 per employee annually to awards, with one third devoting more than $100 per employee. At the end of the day, HR professionals want a hassle-free, cost-effective solution that will provide real results.

For those HR professionals looking to implement a recognition program and don’t know where to start or simply would like to add value to their existing programs, why not consider EBG’s Rewards Management Solution? They’ve clearly done their homework!

ebg-employee-recognition-infographic-10_650

Get Started with TicketsatWork Corporate Rewards & Incentives

2 Comments

  1. Pingback: The ABCs of Employee Engagement | TicketsatWork Blog

  2. I am currently studying different business patterns in the industry, and I find it interesting that employee rewards can have such a large impact on the culture of a company. As you said, it’s a great way to engage the employees of all ages, and particularly millennials. There are so many different ways one can reward their workers. Entertainment, such as corporate sports tickets, or gift cards are all great incentives.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: