Organizations that incorporate employee recognition programs boast a 31 percent lower voluntary turnover rate than those with ineffective employee recognition programs, according to a report from Bersin & Associates.
"Our research shows that modern recognition programs can have a huge impact on organizational performance," says Josh Bersin, CEO and president of Bersin & Associates. "In today's difficult economic times, business leaders should look to re-engineer these programs and integrate them directly with talent and performance management strategies."
Achievers, a provider of employee rewards and recognition software, also recently released a survey revealing that business leaders are failing to take advantage of the potential of employee recognition programs, and they hold false views of today's state of employee recognition in the workplace.
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