According to a recent Deloitte study, recognition has one of the largest impacts on company culture.
Employee engagement provides a number of benefits for organizations. Engaged workers are more productive, innovative and willing to seek new opportunities, so it is not surprising that 83 percent of executives and 84 percent of employees state that having engaged and motivated workers is the top factor to success, according to a new survey by Deloitte.
The question for many organizations becomes how to properly motivate workers and create cultures that lead to engagement. According to the Deloitte study, recognition has one of the largest impacts on company culture, with 49 percent of workers listing it as their top factor. A business that implements an employee recognition program could develop an environment in which staff members feel valued and engaged.
Recognition programs can have a considerable influence on improving transparency. The survey revealed that communication topped even recognition as the main factor for improving engagement among employees. Inc. Magazine notes that employees who understand business operations and the impact they have within their organizations may develop a sense of ownership. This can lead to higher morale and more engagement.