What is Employee Recognition?
Employee recognition is a key element of a successful business strategy that focuses on the acknowledgement and even celebration of employee achievements or positive behaviors. Companies and organizations that develop and employ recognition strategies to provide additional employee motivation and reinforce desired behaviors. Alongside increasing employee morale, a comprehensive recognition strategy can positively impact your bottom line. A study done by Forbes found that companies that scores in the top 20% for building a “recognition rich culture” had a 31% lower voluntary turnover rate over other companies.
There are a multitude of resources out there regarding recognition, with varying degrees of authority. Because information surround employee recognition and building an effective recognition strategy, RPI has developed the RPI Best Practice Standards®. Utilized by HR Professionals across the globe to create and evaluate effective recognition programs, these best practices were developed based upon extensive research and shared experiences in the real world. The RPI Best Practice Standards® have been verified by countless analytical studies.
Employee Recognition Impact
The question then becomes, with such a larger number of employees reporting recognition being a high motivator for their work, how can your organization tap into this motivation and build a recognition program that not only lasts but impacts your culture?
Recognition Strategies and Resources
For more information on how to best build your recognition program for success, join RPI during one of our Recognition Fundamentals programs! Gain real strategies and insights while building your authority in the field of recognition.