Employee reward recognition programs can be a vital tool in communicating a common vision to employees.
A recent study by Insure.com found that insurance companies have made great strides in improving customer satisfaction over the last few years. Overall, the industry has increased its average satisfaction rating from 58.5 percent in 2011 to 65 percent in 2013 by focusing on the satisfaction of its own employees.
Ken Rosen, senior vice president for USAA, told The Street that the secret to his company's recent success was its engaged workforce. USAA ranked No. 1 for both auto and home insurers. To engage its employees, the firm shares a common vision that involves reinforcing its commitment to improving the financial standing of its military customers.
Employee reward recognition programs can be a vital tool in communicating a common vision to employees. These initiatives allow managers to reward behavior that exemplifies the specific values firms are trying to promote. By providing instant feedback publicly, businesses send a clear message about the importance of these goals.
Reward programs also help to improve engagement levels among staff members. Employee contribution is recognized, which helps workers feel valued and appreciated. Understanding the importance of their positions allows employees to focus on improving their performance and accomplishing personalized goals.