By 2022, 70% of large and midsize enterprises will use some form of technology for recognition and reward. But less than 25% will leverage its full potential across the different use cases.
The report goes onto highlight some of the key challenges organisations face in engaging and recognising their workforce. Highlighting that
Organisations that mainly rely on pay increases, bonuses and promotions to motivate their staff will often see an initial uplift in motivation that tails off quickly as time passes.
Organisations aspire for an engaged employee base but struggle to effectively promote the right behaviours needed for authentic and sustainable engagement across the entire workforce.
They have a number of recommendations for organisations considering how to get more out of their recognition programmes.
- In addition to salary increases and bonuses, deploy a recognition platform and use rewards to reinforce and encourage participation in recognition.
- Increase employee engagement by tightly linking recognition to specific company values and culture statements. Provide regular reminders and training as to what these are and use recognition and rewards technology to highlight and encourage more examples.
- Embed recognition into learning, on-boarding and performance management processes.
Peer to Peer recognition is linked to company values is on the rise, making recognition transparent & frequent. However, the use of these tools is often an add on or a nice-to-have.
Companies are yet to capitalise on making recognition part of their key processes, such as recruitment, on-boarding and learning and development, missing the opportunity to recognise small step achievements. Aligning the colleague journey with recognition is a big step in the direction of building a culture of appreciation in your organisation
For support on building a recognition strategy that works and maximising your recognition schemes and tools talk to us…