What does meaningful employee recognition cost?
In March we ran an employee recognition survey wondering how recognition preferences had changed over the past few years. Response was terrific and we found that there have been significant changes.
In this post we look at one area where we have seen big changes, cost of employee recognition.
In 2007, when we first surveyed a large number of respondents on their meaningful recognition experiences, we asked about the cost of their most meaningful recognition. In that survey 57 percent said their most meaningful recognition cost nothing!
Being most recognition programs were centered around an award of some kind, often with a dollar value, this was a surprising finding.
With the 2013 survey we find that the percentage has changed quite a bit. Take a look at where we are today, hovering around 70 percent! This figure certainly suggests that what employees find meaningful is something other than rewards. This doesn’t mean they don’t appreciate getting cash and gift cards. It simply means that if you want to raise satisfaction you need to address other, more important factors.
Want more survey results?
Interested in learning how to develop the most effect programs?