A variety of studies have shown that employee recognition is a key driver of employee engagement, leading to real Return-on-Investment.

Effective Recognition Drives Business Results

Recognition is one of the most powerful, yet least appreciated, management tools. In studies by Towers Watson, the Corporate Leadership Council and Gallup Consulting, employee recognition has been proven to impact employee engagement, which drives business results. Organizations with engagement scores in the top quartile have 50% higher productivity, 13% lower turnover and 44% higher profits than those in the bottom quartile (Gallup Consulting). See the Executive Overview (PDF) to the study "The ROI of Recognition-Complete Study (PDF)" by the Incentive Research Foundation.

What is Your Recognition Strategy?

While recognition has been proven to improve employee engagement and deliver ROI, most organizations have no recognition strategy – just a group of unrelated recognition programs with scattered accountability, little budget tracking, and no alignment with corporate mission and values. In fact, just by taking existing recognition dollars and re-purposing them with a 360° Recognition approach, you can create a new recognition system that will be dramatically more effective.

360° Recognition

Thinking in terms of 360° Recognition means that Incentra helps you begin to create a proactive recognition strategy and process – as part of a total rewards benefits approach – that will truly impact employee engagement and improve your culture. We help you address these 60° segments:

• Informal and formal recognition that is daily, weekly, and monthly.
• Multiple recognition and performance initiatives that go beyond Service Awards.
• Engagement of all stakeholders; top management, managers, and employees.
• Technology to make recognition easy for managers, administrators and employees.
• Communications and training to build awareness and recognition skills.
• Awards solutions that excite all the generations in your workplace.

It is a cycle of success that is ongoing, focusing on key employee outcomes and metrics to create sustained, higher levels of employee engagement and corporate performance. Elevating your culture is never a standalone initiative; Incentra always ties recognition solutions to mission, vision and tangible business results.

Improved Performance for ROI

Today, there are also many opportunities to incentivize behaviors that result in more profitable performance. Wherever performance can be measured, you can motivate employees to perform at higher levels for real ROI. Examples include individual and team improvements to quality, productivity, safe work, attendance, suggestions, retention, referrals, customer/patient satisfaction, etc.

So if you are ready to improve employee engagement and ROI through a more strategic and 360° approach to Recognition Solutions,  Sales Incentives and Safety Incentives  we really should be talking. . .