Trends and key goals of employee recognition programs

May 30, 2011

In today’s fast paced and economically challenging environment, employers often struggle to figure out how to motivate and retain their workforce. Many businesses are solving these dilemmas by developing a culture of employee recognition. More than ever, professionals and business leaders are required to gain insight regarding employee recognition awards.

Attract, motivate and retain employees
Successful employee recognition programs are effectively designed and strategically implemented to provide complete award recognition, including compensation, benefits, work-life balance, recognition and career development.

Importance of employee recognition
Employee recognition remains at the forefront as employers seek ways to distinguish themselves as a top employer. Even in 2008, in the peak of the last recession, nine out of ten organizations had employee recognition programs in place and less than 10% of these organizations had cut back on their recognition award programs.

Variety of recognition
Depending on the goals of your organization, different types of employee recognition programs are necessary. Whether you are seeking to boost the retention rate for a specific position or seeking to encourage original thinking, specific recognition award programs for each goal may be necessary. If you are looking to create an overall culture of employee recognition that will contribute to organizational success, then you are likely seeking broader employee recognition programs. The most important challenge for all organizations, regardless of the specific objective of their employee recognition programs, is to successfully satisfy a wide range of intrinsic and extrinsic employee needs that will attract, motivate and maintain a gifted and productive workforce.

Popular recognition programs
“Length-of-service” (86%) and “above and beyond performance” (79%) are the most popular employee recognition programs. A new trend in employee recognition awards and programs is “peer-to-peer” recognition awards, where employees are encouraged to identify their colleagues’ accomplishments.

Impact on employee retention
Although the goals of various recognition programs within a company may differ, the positive outcome on employee retention appears to clearly stand out. Amongst the different recognition programs, it appears that sales awards recognition has the most significant impact on employee retention; “above and beyond performance” programs, as well as programs that are aimed at encouraging specific behaviours also have a positive outcome on employee retention for most organizations.

Common goals
The primary objectives of employee recognition programs are to create a positive work environment, to inspire high performance and to create a culture of recognition where employees feel stimulated and appreciated. Although organizations are seeking to accomplish several goals through their employee recognition programs, the primary goals remain the same: increase employee retention, improve team performance and develop culture-oriented recognition.

Williams Recognition specializes in the implementation and administration of custom employee recognition awards and programs. An employee recognition program is one of the easiest ways to recognize your employees’ hard work. Not only will it help you retain your valued staff, but it will also boost your entire team’s morale and increase productivity. If you are looking to implement employee recognition programs including years of service awards and sales awards programs, contact Williams.


http://www.hrmreport.com/article/How-recognition-incentives-can-reinforce-company-loyalty/

http://www.shrm.org/Research/FutureWorkplaceTrends/Pages/0307c.aspx

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