Above and Beyond Performance Incentives, Low-Cost Recognition Solutions, and Improved Recognition Program Tracking are Top Concerns
Long Island City, N.Y. (PRWEB) July 06, 2016
Michael C. Fina Recognition, a leading rewards, recognition, and incentives provider, today announced the results of an in-booth survey conducted at the Society for Human Resource Management (SHRM) 2016 Annual Conference & Exposition in Washington D.C. last month.
More than 300 HR professionals responded to the survey and confirmed the value of workplace recognition programs with nearly three-quarters agreeing that they plan to expand their recognition programs over the next year. When asked which recognition initiative has the biggest impact on employee engagement, respondents cited:
1) Above and beyond performance awards (33 percent)
2) Service anniversary awards (20 percent)
3) Personal notes or eCards (10 percent)
"We see a lot more organizations diversifying their recognition offering with a mix of formal and informal techniques," said Cord Himelstein, vice president of marketing and communications of Michael C. Fina Recognition. "Thanks to the technology that's available to modern recognition programs, HR departments have more flexibility with design than ever before."
As budgets are always a factor, companies are increasingly considering no- and low-cost recognition solutions like eCards or digital notes. The majority (94 percent) of individuals surveyed said they were either very interested, interested, or somewhat interested in a no- or low-cost solution. Respondents find low-cost solutions appealing because they encourage daily recognition among peers (35 percent), are easy to manage (22 percent) and help build company culture (18 percent).
When addressing ROI measurement, more than one-third of survey respondents (39 percent) said they evaluate recognition programs with employee surveys, while another one-third (35 percent) said they do not measure their employee recognition programs. The remaining HR professionals surveyed measure program success based on participation rates, customer surveys, employee turnover and productivity.
"Tracking ROI data is crucial to program success. With so many analytics and reporting tools readily available, everyone should be using them to get the most out of their investment," added Himelstein.
For more, visit http://www.mcfrecognition.com.
About Michael C. Fina Recognition
In today's technology-driven multigenerational workforce, meaningful employee recognition is more crucial than ever in building employee engagement and driving business success. Michael C. Fina Recognition helps companies worldwide deliver recognition, rewards, and incentive programs built from a passion and enthusiasm for serving our clients and a nearly 50-year history of service. We deliver scalable solutions that are based on each client's needs, built on personal relationships, and driven by a deep understanding of each company's unique culture. Every day, Michael C. Fina Recognition helps organizations increase employee loyalty and deliver positive business outcomes -- one memorable experience at a time.