No longer a specialist relief pitcher called in to face a tough hitter, or a rarely used bench player padding stats in garbage time, employee recognition has become a widely recognized superstar when it comes to driving employee engagement. And with only 41% of employees recognized at their desired frequency, and 60% feeling their managers don’t recognize them in the moment, a huge opportunity exists for your business to leverage recognition to engage your employees.
While there are a variety of ways to help create an engaged workforce, many experts, including AON Hewitt and the Harvard Business Review, believe that recognition is the most important pillar of any employee engagement program. As Meghan M. Biro states in her new eBook Recognition Culture: The MVP of Employee Experience, “Be it bonuses, awards, rewards, a virtual gold star, or a simple shout out on social media, fostering a culture of recognition drives higher levels of engagement, which translates into improved performance and better results.”
With the shifting dynamics and demographics in the contemporary workplace (millennials now outnumber baby boomers and the economy is reaching “full employment”) there is a greater emphasis on the individual. Accordingly, employee recognition should follow suit and be relevant to the person receiving it.
Gone are the days of the monolithic approach to recognition, in which employees were only recognized once a year during a performance review, with little news of their accomplishments reaching the greater organization or even worse, once every five or ten years with a “Years of Service” award. Replacing this approach with one focused on recognizing and rewarding people frequently with meaning and specificity has become critical in creating a true culture of employee recognition. And it follows that the more frequent the recognition the higher the employee engagement.
The Impact of Recognition: Is It Real?
Recognition as a philosophy is one thing, but does it have quantifiable value when put into practice? Horizon Blue Shield Blue Cross of New Jersey thinks so. In 2013, they implemented their Step It Up employee recognition program (hosted on Achievers recognition and engagement platform) across their four business locations in the hopes of increasing employee engagement. By year’s end, 90% of employees had joined the platform, with executives leading the way by being amongst the most active users. All of this activity contributed to:
- 6 percent increase in its overall engagement scores
- 14 percent improvement in engagement survey results related to recognition
- 97 percent activation rate for its Step It Up Employee Recognition Program
The Step It Up program is still in frequent use today, with executives continuing to lead the recognition charge.
What You’ll Learn
Instituting a company-wide recognition program that encourages frequent peer-to-peer recognition regardless of title or department can be a game changer. In her new eBook, Meghan M. Biro provides the reasons why employee recognition is the most valuable tool for creating a culture of engagement and explains how tying recognition to core company values can ensure repetition through reinforcement – and have a positive impact on key business metrics including productivity, innovation, retention, and customer satisfaction.
If any of these business objectives mentioned are important to you, then it is time to consider implementing a strategic recognition program. But what should you look for when deciding on the best platform for it? To find out the answer to that question and more, download Meghan M. Biro’s latest eBook Recognition Culture: The MVP of Employee Engagement.