March 6, 2015 is National Employee Appreciation Day!
Did you know?
Recognizing employees is one of the most overlooked facets of managements that even great leaders sometimes forget about. Without a good employee recognition strategy, people will feel unappreciated and build up stress.
In fact, the number 1 reason why most Americans leave their jobs is that they don’t feel appreciated . The last thing you want is to have high employee turnover because of poor employee recognition.
Did you know?
“Nearly 75% of organizations have a recognition program (despite the fact that only 58% of employees think that their organizations have recognition programs).”
“Organizations that rated themselves “proficient” in workforce data analysis were far more likely to rate their business leaders as “satisfied” with workforce data, to draw connections between retention and recruiting, to calculate HR’s impact on business strategy, and even, among publicly traded companies, more likely to financially outperform those who rated themselves as “deficient” at workforce data analysis.”
Praise and commendation from managers was rated the top motivator for performance, beating out other noncash and financial incentives, by a majority of workers (67%)
When companies spend 1% or more of payroll on recognition, 85% see a positive impact on engagement.
Recognition is an important psychological need. Employees who know that they will receive recognition for acting on the brand promise will have a strong incentive to do so.