Employee recognition is on the rise — both in the practices of companies and the minds of employees, according to a report released by Globoforce.
More companies see recognition as a critical way of engaging and unifying their global workforce and managing and growing their culture, found the Globoforce Mood Tracker Survey of 653 employees in the United States.
More companies have recognition programs (65 per cent versus 51 per cent in the fall of 2011) and more employees have been recognized in the past three months (50 per cent versus 44 per cent in the fall of 2011).
Recognition is also becoming more important to employees. Eighty-one per cent of respondents said recognition made them more satisfied with their work or position in the company, up from 73 per cent in the fall of 2011.
However, 41 per cent of respondents haven’t been recognized in the last six months or longer, though that number is down from 43 per cent in the fall of 2011, said Globoforce.
For those recognized within the last three months: 89 per cent feel effectively appreciated by their supervisors, 83 per cent feel their level of recognition is satisfactory and 90 per cent feel their managers effectively acknowledge and appreciate them. And 76 per cent love their jobs, compared to 37 per cent of those who were recognized six months ago or more.
One major factor in how quickly turnover happens — or doesn’t happen — is recognition, said Globoforce. More than one-half of employees are at risk and 55 per cent of workers say they would leave their current jobs for a company that clearly recognizes its employee efforts or contributions.
That’s 10 percentage points higher than last fall, found the survey. And among those employees who have left their job, 47 per cent list lack of recognition or negative company culture as a reason for the departure — up from 41 per cent in the fall of 2011.
However, of those who have been recognized in the past three months, only 23 per cent are considering a job change, said Globoforce.
More than four-fifths (82 per cent) of employees said being recognized actually motivated them in their jobs — up from 78 per cent in the fall of 2011. And 78 per cent of respondents said they would work harder if their efforts were better recognized and appreciated, up from 69 per cent last fall.
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