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What’s the business impact of reward and recognition programs?

Management strategies, such as sales incentive programs, seek to motivate workers, helping them to excel and validating them for their accomplishments.

Management strategies, such as sales incentive programs, seek to motivate workers, helping them to excel and validating them for their accomplishments. Ultimately, these methods are aimed at raising employee engagement, which has been shown to increase productivity, raise job satisfaction, encourage workers to stay with their employers longer and improve the bottom line.

Referring to a Jackson Organization study cited in Dr. Noelle Nelson's book, "Make More Money by Making Your Employees Happy," Job Science explained that companies with employee appreciation strategies enjoy more than triple the return on their equity and assets compared to organizations that lack such programs.

Further, the source noted that Towers Watson research has shown that disengaged workers come at the cost of $350 billion for the U.S. economy due to lost productivity. Engaged workers are beneficial for the bottom line for addition reasons, the source explained. For example, having more loyal workers can reduce turnover costs and bolster a firm's talent and knowledge base over time. They also tend to provide better customer service and serve as brand ambassadors by recommending their company to others. These advantages all contribute to a growing customer base, stronger workforce and ultimately better business results.

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