{"id":73668,"date":"2022-10-06T09:10:51","date_gmt":"2022-10-06T13:10:51","guid":{"rendered":"https:\/\/omstrrybrryprd.wpenginepowered.com\/?p=73668"},"modified":"2022-11-08T06:57:48","modified_gmt":"2022-11-08T11:57:48","slug":"employee-recognition-statistics-what-hr-professionals-need-to-know-in-2022","status":"publish","type":"post","link":"https:\/\/www.terryberry.com\/gb\/blog\/employee-recognition-statistics-what-hr-professionals-need-to-know-in-2022\/","title":{"rendered":"Employee Recognition Statistics: What HR Professionals Need to Know in 2022"},"content":{"rendered":"\n<p>Between a global pandemic, the Great Resignation, and corporate Burnout on the rise, HR departments everywhere are rethinking their retention strategies. And one thing that&#8217;s becoming more evident than ever is the link between <a href=\"https:\/\/www.terryberry.com\/gb\/blog\/employee-engagement-and-retention\/\" target=\"_blank\" rel=\"noopener\">employee recognition and employee retention<\/a>.<\/p>\n<p>An easily overlooked aspect in many businesses today, employee recognition has shown to be an important driver behind employee retention. And now there&#8217;s data to back it up.<\/p>\n<p>Here are employee recognition statistics business leaders should consider in 2022.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Impact of Recognition: Employee Recognition Statistics and Retention<\/strong><\/h2>\n<p>Employee recognition research supports that employee recognition is directly related to employee retention. While we continue to navigate <a href=\"https:\/\/www.terryberry.com\/gb\/blog\/5-ways-to-retain-employees-during-the-great-resignation\/\">The Great Resignation<\/a>, a structured employee recognition program could help companies retain their top talent during a time when many are leaving.<\/p>\n<ul>\n<li>\n<ul>\n<li><strong>47%<\/strong> of Human Resource professionals believed that employee retention and turnover was the top workplace management challenge. (<a href=\"https:\/\/www.shrm.org\/hr-today\/trends-and-forecasting\/research-and-surveys\/Pages\/employee-recognition-2018.aspx\" target=\"_blank\" rel=\"noopener\">SHRM<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li>Businesses lose roughly <strong>$1 trillion annually<\/strong> due to voluntary turnover. (<a href=\"https:\/\/www.gallup.com\/workplace\/247391\/fixable-problem-costs-businesses-trillion.aspx\" target=\"_blank\" rel=\"noopener\">Gallup<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li><strong>63%<\/strong> of employees who feel recognised are unlikely to look for a new job. (<a href=\"https:\/\/www.surveymonkey.com\/curiosity\/employee-recognition-and-retention\/?zd_source=hrt&amp;zd_campaign=5503&amp;zd_term=chiradeepbasumallick\" target=\"_blank\" rel=\"noopener\">Curiosity at Work<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li>Companies with effective recognition programs have <strong>31%<\/strong> lower voluntary turnover. (<a href=\"https:\/\/www.forbes.com\/sites\/joshbersin\/2012\/06\/13\/new-research-unlocks-the-secret-of-employee-recognition\/?sh=1a2a48695276\" target=\"_blank\" rel=\"noopener\">Forbes<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li>Survey respondents reported an average of <strong>50 days<\/strong> since they last felt recognised in any way at work. (<a href=\"https:\/\/hbr.org\/2016\/05\/recognizing-employees-is-the-simplest-way-to-improve-morale\" target=\"_blank\" rel=\"noopener\">OGO<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li>Employees promoted after three years have a <strong>70%<\/strong> likelihood of staying with your company. (<a href=\"https:\/\/www.linkedin.com\/business\/talent\/blog\/talent-strategy\/factors-linked-to-better-employee-retention\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>)<\/li>\n<li>When asked for their most memorable recognition, 24% of staff said it came from the Chief Executive Officer. (<a href=\"https:\/\/www.enterpriseappstoday.com\/stats\/employee-recognition-statistics.html#\">Enterprise Apps Today<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Bottom line:<\/strong> Poor employee retention is costly for companies in many ways. But an effective employee recognition program can have a significant positive impact on employee retention.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.terryberry.com\/wp-content\/uploads\/2022\/07\/pull-stat.jpg\" alt=\"employee recognition statistics\" width=\"528\" height=\"308\" data-no-retina=\"1\"><\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Employee Recognition Statistics and Engagement<\/strong><\/h2>\n<p>Sure, employee engagement is nice, but does it <em>really<\/em> matter? The answer is, absolutely. Companies with higher employee engagement are more resilient and better equipped to endure economic challenges.<\/p>\n<p>Furthermore, higher employee engagement can increased customer satisfaction. Meaning, that engaged employees are truly invaluable to the success of your company.<\/p>\n<ul>\n<li>\n<ul>\n<li>Employee engagement, productivity, and customer service are about <strong>14%<\/strong> higher where recognition occurs compared to where it doesn&#8217;t.<\/li>\n<\/ul>\n<ul>\n<li>When employees believe they&#8217;ll be recognised for their work, they&#8217;re <strong>2.7 times<\/strong> more likely to be highly engaged. (<a href=\"https:\/\/www.quantumworkplace.com\/future-of-work\/importance-of-employee-recognition#:~:text=Organizations%20with%20formal%20recognition%20programs,need%20to%20prioritize%20employee%20recognition.\" target=\"_blank\" rel=\"noopener\">Quantum Workplace<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li><strong>72%<\/strong> of businesses agree that recognition impacts engagement positively. (<a href=\"https:\/\/talentsnapshot.com\/wp-content\/uploads\/downloads\/2017\/04\/Impact_of_Employee_Engagement_on_Performance.pdf\" target=\"_blank\" rel=\"noopener\">Harvard Business Review<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li><strong>82%<\/strong> of people are happier when they&#8217;re recognised at work. (<a href=\"https:\/\/www.surveymonkey.com\/curiosity\/employee-recognition-and-retention\/?zd_source=hrt&amp;zd_campaign=5503&amp;zd_term=chiradeepbasumallick\" target=\"_blank\" rel=\"noopener\">Curiosity at Work<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li><strong>81%<\/strong> of hybrid employees are highly engaged, followed by<strong> 78% <\/strong>remote employees and <strong>72%<\/strong>&nbsp;on-site employees. (<a href=\"https:\/\/www.quantumworkplace.com\/future-of-work\/remote-work-statistics#:~:text=81%20percent%20of%20hybrid%20employees,remote%20employees%20report%20increased%20productivity.\" target=\"_blank\" rel=\"noopener\">Quantum Workplace<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li>The <strong>single most important<\/strong> driver for employees to do &#8220;great work&#8221; is employee recognition. (<a href=\"https:\/\/www.greatplacetowork.com\/resources\/blog\/creating-a-culture-of-recognition\" target=\"_blank\" rel=\"noopener\">Great Place to Work<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Bottom line:<\/strong> Engaged employees are more likely to stay with their current company, be happier, and do better work. One way to increase employee engagement is to improve employee recognition.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>General Employee Recognition Statistics<\/strong><\/h2>\n<p>Other important employee recognition stats include:<\/p>\n<ul>\n<li>\n<ul>\n<li>Replacing an employee can cost the company <strong>one-half to two-thirds<\/strong> of the employee&#8217;s salary. (<a href=\"https:\/\/www.gallup.com\/workplace\/247391\/fixable-problem-costs-businesses-trillion.aspx#:~:text=The%20annual%20overall%20turnover%20rate,and%20that's%20a%20conservative%20estimate.\" target=\"_blank\" rel=\"noopener\">Gallup<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li><strong>65%<\/strong> of employees haven&#8217;t received any form of recognition for good work in the last year. (<a href=\"https:\/\/www.greatplacetowork.com\/resources\/blog\/creating-a-culture-of-recognition\" target=\"_blank\" rel=\"noopener\">Great Place to Work<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li><strong>87%<\/strong> of company recognition programs emphasise tenure. (<a href=\"https:\/\/www.forbes.com\/sites\/joshbersin\/2012\/06\/13\/new-research-unlocks-the-secret-of-employee-recognition\/?sh=1a2a48695276\" target=\"_blank\" rel=\"noopener\">Forbes<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li>Recognising employees at least <strong>once per week<\/strong> is best for employee recognition. (<a href=\"https:\/\/www.gallup.com\/access\/323333\/q12-employee-engagement-survey.aspx\" target=\"_blank\" rel=\"noopener\">Gallup<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>\n<ul>\n<li><strong>85%<\/strong> of HR professionals say employee recognition programs positively affect organisational culture. (<a href=\"https:\/\/www.mercer.us\/content\/dam\/mercer\/attachments\/north-america\/us\/us-2018-hero-health-well-being-best-practices-scorecard.pdf\" target=\"_blank\" rel=\"noopener\">Mercer<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>&nbsp;<\/strong><\/p>\n<h2>Get Started<\/h2>\n<p>Providing meaningful recognition is essential for companies to succeed in today&#8217;s market and employee recognition software is a great place to start.<\/p>\n<p>If you&#8217;re interested in learning more about Terryberry&#8217;s employee recognition platform,&nbsp;<a href=\"https:\/\/www.terryberry.com\/gb\/contact-us\/\" target=\"_blank\" rel=\"noopener noreferrer\">contact us today to set up a demo<\/a>. See how our <a href=\"https:\/\/www.terryberry.com\/gb\/360-recognition-platform\/\">360 platform<\/a> incorporates <a href=\"https:\/\/www.terryberry.com\/gb\/social-recognition\/\">social recognition<\/a>, <a href=\"https:\/\/www.terryberry.com\/gb\/employee-benefits\/\">employee benefits<\/a>, milestone awards, and barrier-free communication all under one streamlined platform.<\/p>\n<p><strong>&nbsp;<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Between a global pandemic, the Great Resignation, and corporate Burnout on the rise, HR departments everywhere are rethinking their retention strategies. And one thing that&#8217;s becoming more evident than ever is the link between employee recognition and employee retention. An easily overlooked aspect in many businesses today, employee recognition has shown to be an important [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":73023,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[369,447,378],"tags":[677,407],"resource_cat":[18,19],"class_list":["post-73668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-360-recognition-platform-updates","category-company-culture-gb","category-uncategorized-gb","tag-recognition-gb","tag-statistics-2","resource_cat-culture","resource_cat-ideas","last","even"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Employee Recognition Statistics<\/title>\n<meta name=\"description\" content=\"Employee recognition has shown to be an important driver of employee retention. 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