In an international survey conducted on rewards and recognition for employees, 46% organizations responded that their senior management viewed employee recognition programs as an investment. Only 12% firms said that their senior management viewed these programs as an expense. The rest 42% companies refrained from taking a stand and admitted that they were still exploring the realm of employee recognition, looking to build their recognition strategy and systems in a formalized manner. Nevertheless, it is admitted with consensus that proper rewards and recognition play an instrumental role in driving employee engagement.
When your employee feels genuinely rewarded and honoured, she/he feels driven to engage better with the organization. Giftxoxo Enterprise Rewards & Recognition platform helps you drive employee engagement and also lets you monitor engagement levels. Experiential gifting rejuvenates your employees and gives them clarity of thought. It leaves them in an ideal position to prioritize their KRAs and drive their career in the intended direction. In turn, the organization benefits as employees align their career goals with the business objectives.
Research by WorldatWork conducted in 2013 says that employees admitted a hugely positive effect of their organization’s recognition programs on their levels of engagement, motivation, satisfaction and retention. Employees from 64% of firms reported a positive effect on their engagement levels. 58% firms reported their employees feeling more motivated post recognition while 64% reported a higher employee satisfaction. 34% firms reported a marked rise in their employee retention rates due to driving recognition programs. Negative feedback from employees was close to negligible in this survey
It is evident that proper rewards and recognition programs drive employee engagement. Giftxoxo Enterprise Rewards and Recognition software platform helps you drive your Rewards & Recognition systems and strategy as well as facilitates its alignment to your organizational strategy, goals and objectives. It thus won’t be an overstatement to state that proper Rewards & Recognition strategy and systems have become a hygience necessity of every type of organization across industries to keep their employees happy, engaged and productive.
"Trade your expectation for the appreciation and the world changes instantly." - Tony Robbins