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.