Anytime Recognition: How Employee Engagement Can Transform Your Company
DeepTalent is pleased to announce the launch of its Anytime Recognition System, a new tool designed to drive a culture of appreciation. Your employees will be able to choose from over 50 awards to give, all of which is saved in their analytics account. They’ll receive an email on receiving an award and it will be shared to the company on the new awards feed. Building a culture of recognition is key to higher levels of employee engagement, productivity and decreased turnover. In fact, many studies show that trying to motivate people purely with money can sometimes have the opposite desired effect. Appreciation is free and can have a startling impact on employee engagement figures. Anytime Recognition is available at no extra charge to all DeepTalent clients.
“According to Gallup’s analysis, only one in three workers in the U.S. strongly agree that they received recognition or praise for doing good work in the past seven days. At any given company, it’s not uncommon for employees to feel that their best efforts are routinely ignored. Further, employees who do not feel adequately recognized are twice as likely to say they’ll quit in the next year.”
Recognition should come from more than just those at the very top but from across the organization with those the employee works with on a daily basis. Most workplace recognition programs (87%) focus on tenure rather than employee performance. As a result, organizations focus almost all their recognition efforts on pay. While pay is an important part of the equation, fostering positive feedback is a no-cost way of increasing productivity, lowering turnover and decreasing a host of other metrics like days missed from work. Recognition to be meaningful also needs to be time-specific. If you wait until the next review cycle, an employee may not even know what they did to deserve such praise. In that case no specific action is getting positive reinforcement. Not only will it make your employees more productive, Globoforce found that having an employee recognition program led to a 41% increase in customer satisfaction so it literally has a massive impact on every metric you can imagine. As for turnover, one of the number one reasons top talent has left their job is due to not feeling like they were appreciated.
Anytime Recognition will allow employees to instantly recognize others achievements, from helping out with a time-sensitive task, hitting an important sales goal or being a particularly amazing team member. It’s designed to help organizations build a more motivated workplace that appreciates each other’s qualities and achievements, which in turn drives real bottom-line results. When awarding compensation or promotions, you’ll be able to see every single award an employee has received and better understand the positive qualities their co-workers see in them. DeepTalent also plans to add an automatic award for those people who are givers, those people who constantly recognize others achievements and act as the engine of your company motivation and spirit.
Further reading on how employee recognition has massive impact:
- Praise and commendation from managers was rated the top motivator for performance by a majority of workers (67%), beating out other noncash and financial incentives. (McKinsey Motivating People, Getting Beyond Money, 2009)
- When companies spend 1% or more of payroll on recognition, 85% see a positive impact on engagement. (SHRM/Globoforce Employee Recognition Survey, 2012)
- Our research finds that those organizations with the most mature employee recognition approach are 12 times more likely to have strong business results (Bersin by Deloitte, The Employee Recognition Maturity Model, 2012)
- Companies with engaged employees see 233% greater customer loyalty and a 26% greater annual increase in revenue (Aberdeen)