I spent my first day walking the show floor and trying to find the next classroom for the intriguing workshops that were available. I chose four workshops to attend, but I’m really only going to highlight the one workshop that was the most beneficial (to me anyway): “Incentive Program ROI Results.” I personally took the most away from this workshop. To recap:

Basically, there are six problems that organizations are faced with today, including:

   1. Inability to Retain Top Employees
   2. High Voluntary Resignation
   3. Restless Workforce
   4. Huge Turnover Rates
   5. Labor Shortages
   5. Disengaged Workforce

I won’t bore you with all the statistics of the above “problems.” (Stayed tuned to our Best Practices page for more information.) However, all these problems do have a solution: EMPLOYEE ENGAGMENT! In short, employee engagement is a positive attitude towards an organization and its values.

Now how would engaging my employees help all my problems? It is a fact that employee engagement levels have been directly related to customer satisfaction and customer loyalty levels and profitability. Take a look at the following graphs:


Source: The Gallup Organization

Figure 1 clearly shows that a major cause of companies that experience a high turnover rate is because employees are not engaged!



Source: The Gallup Organization

Figure two on the other hand, shows a direct correlation between a highly engaged employee and the decrease in annual turnover for companies.

The graphs above show that recognition is a crucial factor in an organization. It is also a fact that the most ‘engaged’ workplaces have:

• 50% lower turnover
• 56% higher average customer loyalty
• 38% above average productivity
• 27% higher profitability

It’s astonishing that 80% of employees who receive awards and recognition say that it motivates them to improve job performance. EIGHTY PERCENT!

Not only that, but programs that focus on retaining and rewarding employees can give a $40 million lift to the bottom line of a $1 billion business.

For anyone that is still “iffy” on implementing an awards and recognition program within your organization, all I have to say is look at the numbers.

TO LEARN more about best practices in awards and recognition click here.