Well Done Employees say they most want recognition from: • Their immediate boss • Their customers or clients • Their directors or executive leaders • Their immediate colleagues • Co-workers in other departments Source: Quantum Workplace Recognition Pays Off Large organizations (those with 10,000 or more employees) can save more than $16 million annually in turnover costs simply by making recognition part of their culture. Source: Gallup A Shot Of Productivity Showing employees appreciation doesn’t require a big budget, but it can lead to tremendous payoffs. Consider these stats: • Thoughtful recognition programs create an average of an 11% boost in employee performance. • Employee productivity and engagement is 14% higher at companies with recognition programs than at those without. • If organizations double the number of staffers they recognize every week, they can see a 24% improvement in work quality, 27% reduction in absenteeism and a 10% reduction in staff shrinkage. Sources: Gartner, Gallup and Deloitte Emp l oyee Appr ec i a t i on girafchik / Shutterstock.com 48 | SEPTEMBER 2022 | GROW
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