Here's a statistic that will shock you: A massive 79 percent of employees quit their jobs because they feel underappreciated at work, according to a recent study. Workers ignored by their boss or passed over for a promotion are likely to feel uninspired and undervalued. The result? They jump ship.
Is bad software to blame? Old, outdated programs that don't measure employee engagement or recognize staff success properly can result in increased employee turnover. Here are some of the reasons you need to incorporate employee recognition software into your organization right now.
1. Recognize Talent
It can be difficult to track and measure employee success, especially when you need to focus on other areas of your business. Recognizing top talent in your organization, however, will let you nurture your most valuable employees and grow your company.
Most employers don't know how to recognize talent, though. Research shows that 40 percent of internal job transfers made by employees identified by their companies as having "high potential" end in failure. In these cases, managers couldn't match an employee's skill sets to the right job role.
This is where good employee recognition software comes in. These programs determine what skills your employees have and acknowledge an individual's accomplishments and behavior. Use the data from employee recognition software to decide which of your employees provide your organization with the most value.
2. Improve Employee Happiness
Recognized employees are more likely to enjoy their work. Seventy-five percent of workers recognized by their manager once a month felt satisfied with their job, according to a recent study. Moreover, 85 percent of workers recognized by their manager once a week felt satisfied.
It seems, then, the more you recognize your employees, the more satisfied they feel. Satisfied employees can increase productivity in your organization, so it's a good idea to improve your staff recognition strategies.
"Create goals and action plans for employee recognition," says The Balance Careers. "Recognize the actions, behaviors, approaches, and accomplishments that you know will make your organization more productive and efficient."
Employee recognition tools result in happier, more satisfied, more productive workers -- something your current software just can't achieve. Use recognition programs to reward success -- congratulate your top salespeople once a month, for example -- and acknowledge your team's highest achievers.
3. Reduce Employee Turnover
Unrecognized employees are likely to leave your organization -- it's as simple as that. When asked why they left their jobs, the majority of workers in a recent study said they felt a lack of autonomy or respect. Moreover, 69 percent of employees say they would work harder if they felt they were better appreciated.
Use employee recognition software to appreciate your employees and reduce turnover. These programs incorporate various tools that let you improve engagement and prevent staff from leaving your organization.
It's time to get rid of your old software. Employee recognition programs help you communicate with your team and make them feel more valued. Letting your employees know that you appreciate their work will boost satisfaction, productivity and even sales in your organization.
Looking for employee recognition software that provides you with a return on your investment and real value to your employees? CoreCentive optimizes your employee appreciation programs so you can build a culture of recognition in your company. Click here to find out more.