What Is The Cost Benefit Analysis of Employee Recognition?
Many business owners or management staff members of a team understand that employee recognition is an essential and very important addition to the day to day running of a team or business so in this article we have decided to look into the cost benefit of employee recognition to help you understand the benefits of recognising your employees.
Now, running an employee recognition scheme is easy when it is already up and running, setting up or creating a new employee recognition can take time but after a short while will become easy to manage. Of course there is the cost of the glass awards, but if you are on a tight budget for employee recognition or if you want to give employee recognition schemes a short trial why not consider purchasing cheap glass awards? We have a wide range of cheap glass awards that look of high quality and standard which can suit your needs perfectly.
The cost of an employee recognition system is quite small; however the benefits can be huge when the employee recognition systems are implemented correctly. Recent research completed by Gallup Organisation for 30 industries and 10,000 business units found the following benefits;
• An increase in the productivity of individuals. It was noticed that through recognising desired behaviour this increased the repetition of this desired behaviour and therefore productivity. The reinforced behaviour, through the recognition scheme, supported the mission and key performance indicators of the business.
• There was a clear improvement in employee job satisfaction and enjoyment of work. This meant that team members spent more time working and less time complaining about their job.
• Individuals benefited from the direct, clear and understandable feedback that was provided to both teams and individuals through the employee recognition schemes.
• A rise in the loyalty and satisfaction scores from customers to the business was also noticed, showing that happy staff members result in happy customers.
• A level of teamwork between employees within departments was enhanced and created a more productive, friendly and helpful workplace.
• There was a reduction in employee turnover while the retention of good quality team members was shown to increase.
Why not consider using glass awards and employee recognition schemes in your workplace?