Let’s compare two scenarios.
First, picture an employee who’s worked hard to stand out from the crowd. They’ve taken on extra responsibility within your organization, engaged in and contributed to your company culture, and worked hard to improve by taking advantage of professional development opportunities.
Everyone wants to be recognized for their hard work. Many believe that recognition gives employees incentive to stay loyal to their organizations, and promotes the employees’ continued hard work.
Forbes reported in 2012 that there is a $46 billion market for employee recognition programs. With it being such a huge market, clearly employee recognition is important for every organization to consider.
This Astronology® article is contributed by Peter Loomis, SPHR. Peter is Managing Consultant of Loomis Associates, Buffalo, NY. Peter can be reached at pclhr[@]earthlink.net.
