It is not difficult to find an abundance of research and articles on the impact regular and meaningful recognition can have on productivity, profitability, quality, and sales growth, such as:
- Engaged employees have 18% HIGHER PRODUCTIVITY and 60% HIGHER QUALITY than under-engaged employees (Insync Surveys)
- According to a study by Aon Hewitt, companies in the top quartile of engagement scores had 50% higher total shareholder return than the average company.
- In a study of Fortune 100 companies, there was a 1,000% increase in errors among disengaged versus engaged populations (Journal of Business Strategy).
- Each incremental percentage of employees who become engaged predicts an INCREMENTAL 0.6% GROWTH IN SALES (AON Hewitt).
A telecommunications client put this to the test by implementing a robust recognition strategy.
What were the results after 3 months?
- Team member engagement improved by 65%
- 3% reduction in 30 day first call resolution results
- 2% reduction in 10 day first call resolution results
- 6,000 fewer customer calls
- $130,000 in business savings
Rodd Wagner, New York Times bestselling author of Widgets: The 12 New Rules for Managing Your Employees as if They’re Real People, simplistically summarizes the power recognition can have on employees.
“Those who anticipate recognition for their future successes feel a greater obligation to work hard, give a higher proportion of their full effort, look for ways to improve the way they do their work and deliver more of their best ideas to the company.”