Image via WikipediaInteresting study that was emailed to me by some PR folks. Do you agree with the findings?
A new global study commissioned by employee appreciation firm O.C. Tanner shows that appreciating employees can boost engagement by 20-30 percent. And during this time of economic uncertainty, increasing productivity with something as simple as “thanks” is a message all managers can use.
The 2008 Global Recognition Study conducted for O.C. Tanner by Towers Perrin took place in 13 countries, surveying more than 10,000 employees on topics such as company communication, trust, opportunity and well-being.
“While employees in China and Russia value team recognition more highly than individual acclaim, the more modest British prefer private recognition from their boss,” says Gostick. “It is clear that every country places a high value on the power of recognition."
Employee engagement is a significant predictor of business success and an indicator of organizational profitability, customer satisfaction and employee longevity. According to the study, this level of dedication is driven by feelings of pride, trust, and an overriding sense of opportunity and well-being. While it might take years to rebuild these feelings if they are lost, implementing a program of appreciation brings direct and immediate bottom line results, boosting engagement in low-trust companies up to 63 percent—nearly level with companies where trust is already high. This same dynamic proves true for other factors of engagement, like accountability and goal setting.
“Many companies in our industry would say that in dark times you have to cut programs like recognition to the bone, but they are dead wrong,” says Linda Ross, Senior Analyst of El Paso Corporation, a client of O.C. Tanner. “When people feel unappreciated they are unwilling to bring their best to the table. And if you want to grow as an organization, you need everyone to be willing to give their best.”