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Money isn't the only, or even the top, form of recognition

David Bator
by David Bator on October 14, 2019

I spoke with a Director of HR yesterday who was struggling to ride the wave of an enormous exit of talent.

As they dug into their engagement and exit surveys, employee recognition rose to the top as a key driver of engagement.

Money is not top formWith 15,000+ employees globally, their current nomination-based program received under 1,000 nominations each year for 25 eventual winners.

Worried about making a business case for a new approach to employee recognition, we re-framed the argument.

3,300 employees left the company this year because only 25 employees were recognized for doing good work.

To further their case, a workplace insight from Gallup helped them demonstrate recognition as a "low cost, high impact" human capital strategy.

The insight shares:

  •  "Top performers need to know their efforts are recognized and valued"
  •  "Employee recognition isn't one-size-fits-all"
  •  "Money isn't the only, or even the top, form of recognition"

Here's a great story from TD Bank about the importance of ensuring recognition is timely and keeps the wave moving throughout the year to model behavior, every day for everyone.

 

View the Infographic

David Bator
Written by David Bator

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