According to a new survey by WorldatWork and the National Association for Employee Recognition, businesses are expanding their recognition programs and starting new ones with more frequency than ever before. While the majority of past awards have been given for length of service or performance, companies are adding new awards for safety, ideas, team building and efficiency.
Source: WorldatWork and the National Association for Employee Recognition

A recent survey revealed that CEOs cite attracting and retaining talent is the number one barrier to corporate growth alongside HR executives who rate finding and retaining the best talent to be their greatest concerns.

Source: Drake Beam Morin and Society of Human Resource Magazine Surveys

“A motivated staff is the cornerstone of quality customer service and product innovation,” said Max Messmer, chairman of Accountemps and author of Managing your Career for Dummies(r) (Hungry Minds, Inc.). “By acknowledging your employees’ achievements, you let them know their contributions are integral to the organization’s success.”

Source: The National Association for Employee Recognition.

A recent Incentive Federation survey found that on average, 79% of respondents found non-cash reward programs to be fairly to extremely effective in motivating participants to achieve sales and marketing goals.

Source: Incentive Federation.

According to a study by the International Society of Performance Improvement called “Incentives, Motivation and Workplace Performance: Research and Best Practices,” incentive programs that are implemented and tracked correctly increase performance by an average of 22 percent. Team incentives increase performance by as much as 44 percent.

Source: International Society of Performance Improvement.