Employee recognition programs remain an important component in the total rewards tool kit, finds a survey.
The WorldatWork survey shows 89% of organizations have recognition programs in place and with 67% of organizations offering between three and six different programs, with 4.6 as the average number.
The average number of programs appears to be trending upward to the 2011 level after dipping to 3.9 in 2013.
According to the 2015 report, the top five recognition programs have remained the same since 2013: length of service (87%), above-and-beyond performance (76%), programs to motivate specific behaviours (51%), peer to peer recognition (48%) and retirement (34%). Programs to motivate specific behaviour continue to be on the rise, jumping to the third-most prevalent recognition program with a 10 percentage-point increase.
Organizations using multiple result-driven recognition programs are experiencing the greatest success. Eighty-nine percent of organizations using four result-driven programs are achieving their recognition goals, compared to only 66% of those using just one result-driven program.
“In our talent driven economy, we know organizations that demonstrate employee value and embed a culture of recognition are boosting morale and motivating workers to perform at top level,” says Rose Stanley, WorldatWork senior practice leader. “Today, as more companies are beginning to treat employees like customers, recognition plays a role in creating an atmosphere of higher engagement, motivation and overall job satisfaction.”