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Determining the Value and ROI of Employee Recognition

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See how effective employee recognition is in the workplace by discovering the value and learning how to determine the ROI of your program. Visit www.levymarketingawards.com to learn more.

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Determining the Value and ROI of Employee Recognition

  1. 1. MEASURING THE VALUE AND ROI OF EMPLOYEE RECOGNITION
  2. 2. PREVIEW 1 2 3 4 5 INCREASE TURNOVER RATES INCREASE EMPLOYEE ENGAGEMENT INCREASE PRODUCTIVITY BENEFIT YOUR BOTTOM LINE DETERMINING ROI
  3. 3. The #1 reason most Americans leave their jobs is that they don’t feel appreciated. In fact, 65% of people surveyed said they got no recognition for good work last year. Gallup, Tom Rath and Donald Clifton, How Full Is Your Bucket? Positive Strategies for Work and Life, 2001
  4. 4. EMPLOYEE RECOGNITION REDUCES TURNOVER
  5. 5. Companies with recognition programs that are effective at improving employee engagement have 31% lower voluntary turnover. 31% Bersin by Deloitte, The State of Employee Recognition, 2012
  6. 6. EMPLOYEE RECOGNITION INCREASES PRODUCTIVITY
  7. 7. 69% of employees would work harder if they felt their efforts were better appreciated. 69% SocialCast
  8. 8. It’s Simple You do great work, you get recognized for it, you are motivated and incentivized to do more awesome work.
  9. 9. EMPLOYEE RECOGNITION INCREASES ENGAGEMENT
  10. 10. When asked what leaders could do more of to improve engagement, 58% of respondents replied “Give Recognition.” 58% Psychometrics, A Study of Employee Engagement in the Canadian Workplace 2010
  11. 11. EMPLOYEE RECOGNITION BENEFITS YOUR BUSINESSES BOTTOM LINE
  12. 12. Research finds that those organizations with the most mature employee recognition approach are 12x more likely to have strong business results. 12x Bersin by Deloitte, The Employee Recognition Maturity Model, 2012
  13. 13. 41% of companies that use peer-to-peer recognition have seen marked positive increases in customer satisfaction. 41% SHRM/Globoforce Employee Recognition Survey, 2012
  14. 14. Happy EMPLOYEES = Happy CUSTOMERS
  15. 15. Happy CUSTOMERS = Higher PROFITS
  16. 16. 46% of Senior Managers view recognition programs as an investment rather than an expense. WorldatWork, Trends in Employee Recognition, 2013
  17. 17. DETERMINING ROI
  18. 18. With employee recognition you will save significant costs on turnover and with employees working harder and producing more quality work, your business will be performing better.
  19. 19. 1 Step DETERMINE WHAT YOU WANT TO MEASURE
  20. 20. ARE YOU TRYING TO: Improve Morale Increase Productivity Reduce Customer Service Complaints Reduce Turnover Rates Improve Attendance
  21. 21. 2 Step IDENTIFY THOSE KEY METRICS CURRENTLY IN YOUR COMPANY
  22. 22. See how you’re currently doing in those aspects so you have something to measure improvement against. Tip Determine current levels of employee engage- ment and morale through employee surveys.
  23. 23. 3 Step DEFINE WHAT YOU WANT EMPLOYEES TO BE RECOGNIZED FOR AND COMMUNICATE THAT TO EMPLOYEES AND MANAGEMENT TEAMS
  24. 24. 4 Step MEASURE
  25. 25. Now that your program has been implemented for some time, measure the results! Take those key metrics you decided on in step 1 and compare your results to the results before you started.
  26. 26. FOR MORE INFORMATION ON EMPLOYEE RECOGNITION VISIT: WWW.LEVYMARKETINGAWARDS.COM

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