According to Hewitt Associates, every engaged employee is worth about $5,000 each year in additional profit.
Most Companies use a variety of disjointed programs to recognise and reward their people. Learn how to get more from your employees without paying more...
70% of organisations have adjusted their reward-and-motivation programs during the past 12 months… 27% made changes to increase employee motivation.
Survey data from 41 organisations, with over 1 million employees worldwide, who used employee engagement/recognition and reward strategies, showed that 75% realised improvements in their survey scores, regardless of the economic downturn.
Those companies who have both staff and customers engaged outpace their competition by 26% in gross margin and 85% in sales growth.
The Hewitt Survey noted that 'Best Employers' average profit growth outstripped that of the other organisations in the study by 25% to 21%.
Voluntary employee turnover is at a record high of 14 percent... work / life balance is the most important factor in employee attraction and retention.
Towers Perrin research showed that only 14 percent of employees worldwide consider themselves to be fully engaged in their work.
In the 2008 Employee Involvement Association Suggestion System Survey – 33 participating companies reported a total saving of over $564 million – an average saving of $9,000 per implemented suggestion.
Towers Perrin found that firms with the highest percentage of engaged employees collectively increased operating income 19% and earnings per share 28% year-to-year.
Despite the uncertain economy, 77% of Australia's work-force are keeping their options open for a role that better fits their needs.
Disengagement stifles productivity - it is a cost to business of $33.5 billion a year.
International Survey by Accenture, show 67% of job seekers target employers who recognise and reward accomplishments.
69% of workers surveyed say that non-monetary forms of recognition provide the best motivation.
Earnings Per Share grew 2.6 times more among companies with top-quartile employee engagement levels…
A 15% improvement in employee engagement can mean a 2% increase in operating margin - Towers Perrin.
KPMG's People First Recognition Program has reduced turnover by 3.6%, saving $3 million and $5 million per annum.
85% of a company's capital is derived from intangible assets such as knowledge, technology/intellectual property, brand/reputation and human talent.
Companies with high levels of employee engagement ... improved their operating income by 19.2%...
An exceptional worker can deliver up to 40 percent more value to the Company than his or her average counterpart... which can translate into enormous financial gains.
Companies in the top quartile on both engagement and enablement, exceed industry averages on five-year return on assets, return on investment, and return on equity by 40 to 60%.
A 10 year Fortune 500 Study showed that those companies with high employee engagement outgrew lesser engaged companies by 4:1.
Watson Wyatt found 44% of companies surveyed actually encouraged an increase in the use of Recognition Plans during the recession and 64% expect to keep their Recognition Programs permanently.
Incentive Programs increase Individual Performance by 22% and Team Incentives by 44%.