Statistics on Employee Rewards

Statistics on Employee Rewards

Posted by | 25-01-2019 released some interesting statistics about employee rewards and programs. The statistics are important to note, as it is clear that employee rewards and employee awards ultimately yield a positive effect on productivity, happiness in the work place, and employee retention. These statistics also reveal that many employees prefer non-cash rewards as incentives; people like to receive gifts and/or recognition notes, awards, and the like Almost 90% of organizations have some type of formal rewards and recognition program in place. (The Conference Board of Canada). Here are some statistics worth noting in favour of implementing an employee rewards program:

  • Companies using incentive programs report a 79% success rate in achieving their established goals when the correct reward is offered. (ThinkSmart)
  • In 2015, almost 80% of incentive programs met the proper expectations. (GiftCardPartners)
  • 65% of employees prefer non-cash incentives. (Incentive Marketing Association)
  • 88% of employees agree it’s important that employers reward employees for great work. (AttaCoin)
  • 41% of employees say their employers effectively reward employees for their great work. (AttaCoin)
  • 90% of employees who work in organizations with effective rewards programs agreed with the statement “my work makes a difference”. (AttaCoin)
  • 47% of employees want to receive rewards spontaneously. (Xexec)
  • 38% of employees want to receive rewards in exchange for good work. (Xexec)
  • Over 65 % of employees surveyed strongly agree that both travel and merchandise awards are remembered longer than cash payments. (strategicincentives)
  • Only 14% of organizations provide managers with the necessary tools for rewards and recognition. (Globoforce)
  • Only 37 % of organizations agree that their rewards programs consider the multiple generations in the workforce. (The Conference Board of Canada)
These statistics reveal that more and more organizations are investing, or should invest, in employee rewards programs to better engage and recognize their employees.

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