The Importance of Employee Recognition: Discover it’s Value for your Organization
September 25, 2018
Knowing what happens inside companies and understanding the behavior of the organization is becoming more important for human resources departments. The changes that represent the working world puts forth a scenario in which human talent plays a key role in the productivity of organizations and employee recognition becomes a key factor.
The future of employment will be determined by the following factors:
- Collaborative work, having platforms that allow employees to exchange ideas, concepts or projects.
- Ubiquity, remote work is a reality and companies have to adapt by providing the digital tools and spaces needed to transmit and sustain a solid corporate identity among their employees, no matter where they are in the world.
- Diversity, goes beyond the cultural mix, it values a person’s uniqueness by fostering a rich exchange of ideas and creativity which is a value-added benefit as companies compete in the global market.
- Integration, eliminates barriers between departments and combines different areas to share a common business culture.
- Job satisfaction, which represents the interaction between employees and their work, where they seek the congruence between what employees want and what they feel they receive.
It is in this context that some companies are failing, and they do not make the necessary efforts to generate commitment from workers. This is demonstrated by a study conducted by the company Edenred, yielding results to which we should focus our attention if we want to improve the job satisfaction of our human talent:
1- 40% of employees do not feel appreciated by their company
A large number of workers do not feel valued, this generates a lack of commitment to the objectives of the company, directly affecting the productivity of the organization.
2- 89% of companies assume that their employees change companies in search of an increase in salary. However, only 12% of employees earn more in their new job.
Money is not always the most important thing for workers. Flexible hours, job recognition or autonomy are some of the benefits employees want when looking for a job.
3 – 77% of the workers state that they would be more involved in their work if they felt appreciated for their achievements
The vast majority of employees affirm that recognition of their work by the company is essential in their work motivation. Employee recognition represents a positive change in employee productivity and maintains a pleasant work environment.
4- An employee recognition program can increase employee productivity by up to 44%.
Workers job satisfaction directly affects their performance. A recognition platform is capable of enhancing motivation and, consequently, their productivity.
5- The retention of talent can generate between 25% and 85% increase in the profits of the company.
Sustaining know-how in organizations is key to setting and achieving long-term goals. Companies that have the ability to retain their employees will be able to maximize their profitability.
StarMeUp: the value of the stars
These numbers show us that motivating and engaging employees within your organization is critical to the success of the company. With StarMeUp you can solve many of these issues; by integrating employees, regardless of their geographical location, encourages collaborative work, thus improving the performance and creativity of your company’s human talent. Encouraging the recognition of employees can generate a positive work environment and favorably improve the productivity of your organization.
The analytical information offered by the platform allows you to know in real time what is happening with human talent, recognizing the positive leaders, as well as being able to anticipate the departure of disgruntled workers, thus achieving the retention of key people in the company.