The Power of Employee Recognition
Any organization committed to recruiting and retaining top talent must learn the art of appreciating that talent. Top companies realize this, so it’s no surprise that employee recognition programs are quickly becoming one of the fastest growing areas of talent management. According to Aberdeen’s 2013 employee engagement survey, 67% of Best-in-Class organizations have a formal recognition program in place, compared to 58% of Best-in-Class organizations in 2012. Best-in-Class organizations are rapidly embracing recognition as a way to fuel engagement and drive business success. What distinguishes these programs is their ability to embed recognition in the company culture by empowering every employee to recognize great performance, embracing innovative technology, and consistently evaluating these efforts across the organization. This Analyst Insight, based on data collected in May and June 2013, will examine the key trends and best practices necessary to design and implement a powerful employee-recognition program.
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Mr. Gupta,
I agree with much of the post. Employee recognition is the catalyst for creating a competitive edge in business. Too many of the so called top tier companies are unable to recruit and retain top talent because of the lack of managerial insight. Employing a recognition process builds the positive outcomes in organizational processes and may be a determining factor for individuals to stay or leave.
I have been exposed to poor managers who are unable to attract, develop, promote employees with high potential. Senior leadership should look at these individuals as having glaring deficiencies. I have also connected to great managers that provided me with the means to accomplish many tasks. I think we should also encourage the mentoring and coaching process in employee recognition.
Your thoughts?
By Adrian G. Scioli. MBA, DBA (Candidate)