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Employees Long to Be Recognized: Companies can improve the effectiveness of the employee reward and recognition programs they invest in by focusing on participant values, finds a study released in August 2012 by Maritz Motivation Solutions.
While businesses have spent more on employee reward and recognition programs in recent years to attract top talent and retain good employees, just 45.3% of employees feel meaningfully rewarded and recognized by those programs.
To identify opportunities for creating better employee programs, the study focused on distinguishing the drives and values of employees relating to reward and recognition programs. Four employee value segments emerged— Altruists, Drivers, Pioneers and Stabilizers. Companies can develop approaches that take into account the wants, needs and motivators for the specific groups. Other highlights:
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80.4% employees did not agree with the statement, “Overall, I am completely satisfied with my job.”
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58.3% did not agree with the statement, “I feel motivated to go beyond my formal job responsibilities to get the job done.”
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71.4% of those not meaningfully recognized did not agree with the statement, “I would be very happy to spend the rest of my career with my company.”
Source: Maritz Motivation Solutions
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