Report reveals how to engage the modern workforce and improve employee engagement up to 37 percent
BOSTON – (October 1, 2019) – Reward Gateway, a global industry leader in employee engagement, and Josh Bersin, an independent global industry analyst and dean of the Josh Bersin Academy, today launched a new report that covers how businesses can improve performance and results through strategic employee engagement and recognition built for the modern workforce. Notably, the research reveals that organizations investing in strategic recognition can increase employee engagement scores up to 37 percent.
The report defines strategic employee engagement and recognition in comparison to traditional models, outlines why companies must take a different approach to engage the modern workforce and summarizes the key elements of a successful strategic recognition program. Results show that successful strategic employee recognition programs are measurable, integrated with other engagement initiatives, social, timely and transparent. Programs with these elements are 12 times more likely to generate strong business results, and businesses can increase employee engagement, productivity and customer service by 14 percent.
The report also features case studies from organizations that achieved significant business results through strategic recognition plans, including Reward Gateway clients Atos, Five Star Bank, and Excellus Blue Cross Blue Shield.
Highlights of their respective programs include:
Five Star Bank’s strategic recognition tool engaged 83 percent of managers and 79 percent of non-manager associates. Additionally, the percentage of highly engaged employees increased by 19 percent and disengaged employees decreased by 25 percent compared to results in 2017.
Excellus Blue Cross Blue Shield developed a set of values and associated behaviors branded as “The Lifetime Way,” which was reinforced by a strategic recognition program that increased engagement by 37 percent.
Atos’ employee engagement platform, which plays a critical role in employee retention by socializing company values, networking employees through peer to peer social recognition, and providing discount & shopping benefits, has a 75 percent engagement, and has saved employees an average of about $1,300 per year.
“As today’s workplace environment becomes increasingly automated, dispersed and diverse, employers need to do more to improve employee engagement,” said Bersin. “Strategic employee engagement and recognition programs, when developed properly, are significant drivers of the authentic engagement the modern workforce is expecting. This report is for companies that don’t just want to hear about the importance of strategic recognition, but want to know how to implement a successful program.”
“Our Lifetime Way values and behaviors are not nice to have, they’re actually enabling greater communication and collaboration that are driving our business results,” said Keri Mantenga, corporate vice president, organizational effectiveness, Excellus Blue Cross Blue Shield.
“Traditional recognition programs like tenure awards and bonuses are nice, but when they are not tied to business objectives are limited in their ability to become culture drivers, and are unlikely to impact employee engagement,” said Doug Butler, CEO at Reward Gateway. “That’s why we’re focused on strategic recognition, communications and measurement aligned with business’ goals and values. This report reinforces what we have learned from working with over 1,800 clients, that strategic employee engagement and recognition programs can be successfully implemented and have a positive impact on culture and business results.”
To learn more about the impact of strategic recognition on employee engagement, click here to download the report.
For further information, contact Reward Gateway at firstname.lastname@example.org.
About Reward Gateway
Reward Gateway helps more than 1,800 of the world’s leading companies, in 23 countries, to attract, engage, and retain their best people with an employee engagement platform that brings employee recognition and reward, communications, discounts, perks and surveys into one unified hub. Clients include American Express, Unilever, Samsung, IBM, and McDonald’s. For more information, please visit www.rewardgateway.com.