Employee recognition is a key part of retaining and engaging your talent in the times ahead—it can help keep morale up after layoffs, productivity up during stressful times, and turnover down when employees see other offers.
How do we know this? First off, as a recognition software company, we’ve seen these amazing benefits with our own clients! But that’s not all. We’ve compiled powerful recognition statistics from research studies and surveys around the web here for you to review.
Our hope is that after seeing the verified impact that employee recognition has on people, organizations, and business cultures, you’ll recognize your own employees a little more.
Employee Recognition Statistics That Show Business Impact
1. Recognition Lowers Voluntary Turnover by 31%
When employees feel valued and appreciated by their managers and the company, they’re much less likely to want to leave. Building a culture of recognition can cut your turnover down drastically.
2. Recognition Increases Productivity and Performance by 14%
Employee recognition is closely correlated with business outcomes. When companies recognize their employees, those employees perform better and are more productive.
3. Recognition From Managers Increases Employee Engagement by 43%
When leaders take the time to show their employees that they care and appreciate them, those employees respond with nearly 50% higher engagement. Employees also feel more comfortable and more loyal, and they put in more discretionary effort.
4. 68% of Companies Say Recognition Increases Retention, and 56% Say Recognition Improves Recruitment
Don’t just take our word for it—HR professionals who invest in recognition say that it benefits both their employee retention and their recruitment efforts. Recognition can help you attract and retain the best talent.
5. Employees Are 3X More Loyal to Organizations That Prioritize Recognition
Employees love when recognition is an important part of their company’s culture. That’s why they’re more loyal to organizations that prioritize employee recognition.
6. Fair Recognition Makes Employees 4X More Likely to Be Engaged
Employees who strongly agree that they’re recognized fairly for the work they do are 4X more likely to be engaged at work. This creates a cycle of engaged employees, good work, and effective recognition.
7. High Performing Companies Are 10X More Likely to Prioritize Employee Recognition
Companies that prioritize a culture of recognition perform better. It’s that simple.
Employee Recognition Statistics That Show Employee Reactions
8. Recognition Makes Employees 56% Less Likely to Look for a New Job
Employees want to be recognized. They want to work in a place that appreciates them for their work and their efforts. That’s why employees are much less likely to even look for a new job when they’re recognized.
9. Without Recognition, Employees Are 2X More Likely to Quit
On the flip side of things, when employees aren’t recognized enough, they are twice as likely to quit. People will stay at jobs that appreciate them. It’s as simple as that.
10. 37% of Employees Say Recognition Is the Best Motivator
Employee recognition improves employee motivation. For 1 out of every 3 employees, it’s the best motivator of all!
11. Praise Enhances Collaboration, Agility, Feelings of Purpose, and Work Quality
When teams are regularly praised for their work, they are more likely to collaborate, share information, and stay agile in the work environment. They’re also more purposeful in their work, which increases the quality.
12. Recognition Makes Employees Feel 5X More Connected to Company Culture
Company culture is the foundation of keeping employees satisfied and engaged at work. And when recognition is part of your strategy, employees feel 5X more connected and invested in the culture.
13. 92% of Employees Will Likely Repeat an Action After Recognition
Employee recognition drives behavior. That happens because when employees are recognized for doing something—such as putting in extra effort or collaborating effectively—they’ll repeat that action again.
Employee Recognition Statistics That Show What Employees Want
14. 40% of Employees Aren’t Recognized Enough
Nearly half of all employees want more recognition. By recognizing more and ensuring these people feel appreciated and valued, you can boost their engagement, retention, and satisfaction.
15. 94% of Employees Who Are Recognized Daily Are Satisfied
Recognition doesn’t have to be a big event or expensive gift. Instead, daily expressions of gratitude can be hugely impactful. For nearly every employee, daily recognition of some kind help them feel much more satisfied.
16. Recognition Is Better Than Monetary Bonuses to 1 in 3 Employees
Employee recognition is a great way to reward employees—for some employees, it’s even better than cash!
17. Millennials and Gen Z Employees Are 73% More Likely to Want Frequent Recognition
Millennials and Gen Z employees make up nearly 50% of the labor force. And the vast majority of these people want to be recognized at least a few times every month.
18. 74% of Employees Don’t Get a Fair Amount of Recognition
Only 26% of employees say that they receive similar amounts of recognition compared to coworkers with similar performances. That means most organizations give out lopsided recognition. whether because of popularity, visibility, or another reason.
19. Symbolic Rewards Increase Employee Motivation and Performance
Monetary rewards are nice but not necessary. Symbolic rewards, such as cards, public shoutouts, certificates, social posts, etc.) can significantly increase employee motivation, performance, and retention.
Create Positive Recognition Statistics for Your Company
Employee recognition can completely change the game for any organization in any industry—and employees want more of it! Use these stats to get the leadership buy-in you need to provide the recognition your people want, and watch the benefits roll in.
To see how Awardco makes recognition easy for you and effective for everyone, contact us here.
