Oakland, Calif. — Nov. 7
Bersin & Associates, a provider of research-based membership programs in human resources (HR), has announced new research that shows companies that excel at employee recognition are 12 times more likely on average to generate strong business results than their peers.
Bersin & Associates has also introduced its first Employee Recognition Maturity Model, which aims to help leaders assess employee recognition programs and details.
The findings and the maturity model both appear in “The Employee Recognition Maturity Model: A Roadmap to Strategic Recognition,” available now to Bersin & Associates WhatWorks members via BersinInsights.
Bersin & Associates based the Employee Recognition Maturity Model on the five best practices of employee recognition, which it uncovered through advanced statistical analysis and customer interviews.
Those five best practices include:
Set the tone for recognition with senior leaders and clear goals: When senior leaders clearly communicate their expectations so that employees understand their goals and their teams’ goals, the organization is much more likely to have strong business performance.
Create clear recognition criteria: Those companies who excel at business performance focus on recognizing people for accomplishing special projects, achieving company goals and demonstrating company values.
Use technology to make recognition easier, more flexible and frequent: Employees at organizations that were highly effective at integrating technology into recognition were three times more likely to be in the top quartile of business performance.
Engage in a multi-front recognition offensive: Although there are significant benefits to using employee recognition software, it should be part of a comprehensive approach to employee recognition that includes offline elements.
Provide recognition and reward employees’ value: Employees want to receive rewards that are high quality and have high financial value.
Source: Bersin & Associates