Value-based recognition schemes can significantly impact key business results, according to research by Globoforce.
The Globoforce Summer workforce mood tracker study, which surveyed 708 US-based employees between May 16 to June 3 2013, found that recognised employees are more satisfied with performance reviews and perceive an impact on a wide variety of their performance metrics.
For example:
- 59% of respondents said being recognised by an employer created a positive change in their productivity.
- 49% of respondents said being recognised by an employer created a positive change in their work relationships.
- 43% of respondents felt employer recognition improved their customer service.
- 25% of respondents said being recognised by an employer improved their attendance.
- 21% of respondents said empoyer recognition created a positive change in their safety and compliance behaviour.
Overall, 94% of respondents said they liked being recognised at work.
In addition, the research found:
- 82% of respondents said being recognised for their efforts at work motivates them.
- 56% of those that have recognised peers in the last year were highly engaged, compared to 27% that have not participated in peer-to-peer recognition in this time.
- 48% of respondents said recognition is most likely to align them with their employer’s values and culture.
