Employee Recognition Programs
Employee Recognition programs can assist companies looking for ways to retain and engage staff, whilst also increasing productivity. The best way to achieve both of these goals is to implement an employee recognition program that encourages and rewards discretionary effort.
Employee Recognition programs can also create cultural change by encouraging an environment of appreciation and acknowledgement.
Employee Recognition program measures may include:
- KPIs
- Company values & behaviours (identified by peer-to-peer nominations)
- Safety / reduction in incidents
- Length of service milestones
- Innovations / suggestions
- Completion of training
- New employee referrals.
Attracting and retaining good people is always a challenge so it is essential to provide an attractive Employee Value Proposition that encompasses reward and recognition. By doing this, you'll ensure that you keep your key staff and it will also have a positive impact on morale.
Also, by creating a workplace where staff are regularly recognised and rewarded for outstanding achievements, you will drive preferred behaviours. This will create the sort of high performing culture that generates a strong ROI and one that will attract and retain high calibre people.
Employee Nominations
In an employee nomination program, employees can nominate each other for recognition online and our system manages the approval workflow automatically. This means that when someone nominates a colleague, the nomination is elevated to the nominee’s manager for approval. This reduces the amount of manual administration required in an offline program and makes the process so much easier to manage. It also means that reporting is far simpler.
The Importance of Employee Engagement
Employee engagement is of key concern to executives, with the latest Gallup Biannual Survey of Australian Workers research showing just how critical employee engagement is to business success:
- Disengaged workers cost Australia's economy between $33.5 billion and $42.1 billion a year.
- 61% of Australian employees were 'not engaged' to their role and their employer while a further 21% were 'actively disengaged' - that is, acting out their unhappiness, undermining the accomplishments of their engaged colleagues. Apart from being disruptive, they are less productive, profitable, loyal, or likely to provide excellent customer service.
- These actively disengaged employees are not planning on leaving their companies any time soon - with 45% of them planning to still be with their company in 12 months’ time - in fact 24% plan to spend their entire career there!
- Disengaged employees take an average of SIX extra days off a year when compared to engaged employees; FOUR of which are attributed to sickness. Disengaged employees have more health problems than their engaged colleagues - including higher blood pressure, higher cholesterol, greater levels of depression and asthma.
Watson Wyatt Worldwide has been quoted stating: "Large companies with an effective way to recognise employees had a median return to shareholders of 109% over a two-year period, compared with 52% for those who didn't."
Online Engagement Survey
We also offer an online survey to assess current engagement levels prior to commencing an employee recognition program which then provides a benchmark for future comparison. If you choose to do this, we will conduct the survey again once your program has been running for a period of time (eg 12 months) and compare the results.