'Reward still has a place, but recognition is what is going to shift the dial on engagement'
World at Work reports that a vast majority of organisations have some form of a recognition program - typically a mix of formal and informal programs, according to Emma Harvie, Manager, Client Services at Achievers.
Yet, when you look at Gallup data, only 1 in 3 workers report feeling recognised or praised for doing good work.
“The same Gallup data suggests that employees who indicate they don’t feel recognised are twice as likely to say they plan on quitting in the next year,” she said.
“Even more disturbing, when you ask organisations who have invested in recognition programs, they report they ‘definitely’ deliver on the objectives of the investment only 18% of the time.”
Harvie added that organisations are investing in recognition, however, to get return on investment, they need to do it differently.
Indeed, Harvie will be speaking on an upcoming webinar where she explains the importance of frequent recognition and shares best practices on how to build and sustain a successful employee recognition program.
So if Harvie could give some advice on ensuring recognition delivers for your business, what would it be?
“Firstly, recognition doesn’t work unless it’s regular. Frequency matters. Recognition tools and processes need to enable and encourage this.”
Harvie added that it’s also important to separate ‘reward’ from ‘recognition’, and lead with non-monetary social recognition.
“Reward still has a place, but recognition is what is going to shift the dial on engagement.”
Emma Harvie will be speaking on the upcoming webinar on How to ensure recognition delivers for your business. To register, click here.
