Awa rds & Recogn i t i on Eyes On The Prize by Kristina Valdez Timely rewards and recognition are powerful tools for businesses and organizations. Without them, engagement, retention and productivity will all sharply decline. Everyone wants their flowers, even Hollywood stars. Now, more than ever, promo pros are the go-to recognition experts. We all want recognition for our hard work. If we don’t get it, we’ll leave. A 2017 survey by staffing firm OfficeTeam found that two-thirds (66%) of workers surveyed would likely leave their job if they didn’t feel appreciated. To retain talent, businesses are leaning on recognition programs. According to research firm Deloitte, those with effective programs lower their voluntary turnover rate by 31%. Rob Riley, president of Wisconsinbased supplier Active Life Promo, says, “We specialize in custom awards, and we have continued to see steady opportunities for these as companies seek to find unique ways to provide recognition to employees.” Clients can rely on distributors’ creativity when seeking to recognize their employees. According to Globoforce, only 14% of organizations provide managers with the necessary tools for rewards and recognition. Recognition impacts employee satisfaction and company culture. Organizations with ongoing recognition programs experience 29% lower frustration levels than those without. 42 | MAY 2022 | GROW
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