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Recognition Continues throughout Recession

February 18, 2010

From the Recognition Insider Newsletter Spring 2010 Edition
Employers Continue to Invest in Recognition Programs During the Recession.
At first glance, the latest surveys from employers all around the country seem difficult to believe. Why? Because they show clearly that in spite of the deeply painful recession which has gripped the U.S. economy for the past 18 months, most employers are continuing to invest in Employee Recognition Programs as much as they ever have.
According to the most recent survey data gathered by WorldatWork, in fact, U.S. companies and organizations may actually be spending slightly more on Recognition than they did before the economic crunch began back in the fall of 2008. The bottom line: about nine out of ten organizations that responded to the WaW surveys say they’re investing as much as ever in Recognition Programs, and many reported that they’re considering adding to their investment in 2010.
Why are these organizations so willing to spend scarce dollars on programs for employee recognition?
The consensus at WaW is that most in-the-know managers today fully understand the value of recognition programs in helping organizations hang onto their best people – and especially during economic downturns, when skilled and reliable employees are needed more than ever to keep balance sheets in the black.
Says WorldatWork analyst Alison Avalos, while describing the current trend: “Recognition is emerging in this changing economic universe as a critical linchpin in the rewards platform. Employees want to be recognized for their efforts, and well-designed recognition programs that support organizational goals, are meeting these expectations and significantly impacting productivity!”

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