Ideas for Employee Recognition
Recognizing employees reinforces positive behaviors and creates engaged heroes who demonstrate your organization’s values. Engaged employees are your competitive advantage.
It may not be surprising that organizations with highly engaged employees rank high in customer satisfaction. A genuinely enthusiastic and helpful employee gives customers a wonderful experience, and Incentives Marketplace can help you encourage that attitude.
What may surprise you is that, according to Gallup, companies with highly engaged employees generate 23% higher profits, enjoy 18% higher productivity, and have 64% fewer safety incidents.*
*Source: Employee Engagement and Performance: Latest Insights From the World’s Largest Study. Gallup 2020.
Engaged Employees Cut Costs
Voluntary turnover costs U.S. companies over $1 trillion each year. Replacing an individual employee can run from half to twice their annual salary. Companies with highly engaged employees realize up to 43% less turnover than their peers.*
These companies also have 41% fewer quality defects and 81% less absenteeism.* Recognition creates engagement. Engagement cuts costs.
*Source: Employee Engagement and Performance: Latest Insights From the World’s Largest Study. Gallup 2020.
Reinforce Culture & Identify Leaders
Publicly recognizing an employee via sales or travel incentives reinforces the company values by telling success stories and demonstrating those values to others. An effective employee recognition program improves managers by showing them how to engage their staff through planned recognition. It even helps identify up-and-coming leaders.
Incentives Marketplace helps clients do recognition right! Contact us today to learn more about our successes.