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The Benefits of Consolidating

Employee recognition programs have become a bit more popular in the past decade, driven by studies that indicate these types of strategies can have profoundly positive impacts on retention, productivity, efficiency and engagement. While the basic tenets of employee recognition are relatively straightforward, the oversight, measurement and management involved in company-wide programs can be a […]

The Benefits of Consolidating

Employee recognition programs have become a bit more popular in the past decade, driven by studies that indicate these types of strategies can have profoundly positive impacts on retention, productivity, efficiency and engagement. While the basic tenets of employee recognition are relatively straightforward, the oversight, measurement and management involved in company-wide programs can be a bit more complex.

After all, the average business leader is likely looking to take these recognition programs to the next level rather than only having an overtly simplistic approach in place. Xceleration recently released an infographic that explained some of the advantages of consolidating business-wide recognition into one centralized platform, highlighting what decision-makers should expect following enhanced integration.

Core benefits
First and foremost, consolidating recognition into a unified platform will positively impact the uniformity and consistency of branding, infrastructure, criteria, reward amounts and types. As many leaders have likely already started to see for themselves, inconsistency in recognition programs, especially within the delivery aspects of the strategy, can hinder the success significantly.

As always, unifying any type of cross-department strategy will yield cost savings, and recognition program integration is no different. This approach will also help to boost the infrastructure-related aspects of the program, easing payroll and taxation processing management, streamlining metrics and returns on investment tracking and more.

Brand recognition and engagement will generally be improved by cross-departmental program integration and unification, while visibility will be similarly boosted. Finally, unified platforms for recognition programs can help to expand the scope of the projects, make them more amiable when refinement is necessary and sustain the catalog of rewards for longer periods of time.
At the end of the day, many business leaders might be wondering what the real-life returns on these investments might look at, and for good reason.

What to expect
Following the adoption of a unified platform for company-wide recognition and the establishment of a well-consolidated plan, businesses say employees nominated for rewards an average of seven times per year, while the cost savings reached 50 percent with respect to spending in these areas.

Furthermore, 60 percent of the average staff recognized another employee at least once a month, while 86 percent of the active audience participated in the programs within the first three years across 36 countries. Nomination submissions grew by 60 percent in this same time frame.

When running an employee recognition program, the sky is the limit with a more unified, streamlined and targeted platform in place.

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