Companies recognize the impact of experience on growth and profitability and are changing the way they engage and support customers. They are placing a heavy focus on the individual – creating a more meaningful relationship. This is our experience as consumers and it is starting into the workforce. Today’s companies must prioritize the employee and invest in the right strategies and technology to support these efforts.
The employee experience directly impacts business results. Yet, the challenge that most companies face is they do not know where to start. Despite being a top priority, only 34% of companies have improved the employee experience in 2017 – a decline from over 60% of companies in 2016. Organizations can no longer afford a negative employee experience and they need to begin to rethink their initiatives- particularly recognition.
Aptitude Research Partners found that 42% of companies plan to invest in recognition in 2018. Companies that leverage the right strategies and technology to recognize and motivate their employees are more likely to improve the employee experience. Recognition is one of the most powerful tools available to organizations yet it is often overlooked. When employees feel recognized and empowered, they are more likely to contribute to organizational goals, achieve performance objectives, and stay with their employer.
Companies that want to make more strategic decisions around employee recognition and the technology they use should consider the following:
Invest in Social Recognition: Companies that invest in social recognition software are able to create a culture where managers and peers are consistently recognizing each other in a frequent and meaningful way.
Empower Managers: Managers often lack the tools and resources they need to recognize their employees. By providing solutions that empower managers to recognize employees and hold them accountable will improve the overall employee experience.
Measure the Results: Recognition will not impact the overall employee experience unless organizations have a systematic way to measure recognition efforts and adjust their programs accordingly.
Keep It Simple: Recognition should not be complex. Both processes and technology should provide a simple experience where recognition is easy to execute, track, and manage.
Tomorrow I am presenting on a webinar with SHRM and Achievers to talk about the impact recognition has on the employee experience and the steps companies need to do to create a culture where employees are recognized in a meaningful way. I hope you can join us at 2pm EST tomorrow!
