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Saying Thank You is Good Business

By Josh Bersin

We just completed a year-long research study on the impact of employee recognition. It turns out that “high-recognition culture” companies dramatically outperform their peers in a whole range of business outcomes. These top companies generate 12X greater business outcomes in a variety of measures and have more than 30% lower voluntary turnover.

The employee recognition industry is an old market, focused heavily on rewarding employees for tenure and service. Such programs, while prevalent in more than 70% of companies, drive little actual business value. (How many of you stayed an extra five years at your company to get a pin?)

What these high-performing companies do is different.

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HOW MANY OF YOUR EMPLOYEES HAVE ALREADY CHECKED OUT EMOTIONALLY? TIME TO WIN THEM BACK!

David Hieatt recently posted a series of photos showing pages from a book that never made it to the printers.

It’s a fascinating insight into a powerful work-in-progress that we hope he’ll soon get published.

The photo above struck us as particularly relevant to business leaders today.

In our paper, “The Meaning Gap”, we explore how the interests of businesses, and the people formerly known as employees, are going in separate directions.

We also explore the consequences for businesses.

Why are employees checking out emotionally? Continue reading