Companies have been plagued by low levels of employee engagement in recent years. The global marketplace has changed, causing employers to cut costs, leading to security concerns by employees. As a result, companies have seen elevated stress levels, negative attitudes and low productivity. A recent survey has indicated that less than half of companies in America have programs in place that reward or recognize employees for performance. That is, there are many companies that don't hand out years of service pins to their dedicated employees. The companies that do reward and otherwise recognize their employees see tangible benefits. And for these companies, we see three major trends.
Traditional service pins were given to employees with years of service under their belts. The trend now is to give out service pins early on in employment. That is, when companies begin handing out service pins for employees who are there for a year, they see many benefits including better retention, decreased rollover and a more positive work culture.
Developing a culture focusing on employee recognition takes time, but it is what many companies are striving for. From executive leadership buy-in to support and involvement of key staff, this is a huge undertaking. In the end, the benefits of employee recognition programs will outweigh the work involved.
It is estimated that 82 percent of companies do not incorporate social media in their recognition programs. This is a trend that will change in the future. It will take a little time before companies adopt and integrate social media into their recognition programs.
Companies need to implement and embrace recognition programs. In the long run, a culture of employee recognition will decrease employee turnover while increasing productivity. It is a win-win situation.