Feeling underappreciated for the things we do well at work isn’t a great feeling to say the least. Research has shown that within the workplace, people value praise, attention or a better opportunity as equal or even superior to cash rewards. Clearly, a simple thank you or recognition of a job well-done would go a long way.
So why doesn’t that happen more often? After all, when great work is celebrated, everyone gets inspired. Nonetheless, the Harvard Business Review reports that, “Most employees believe that management does not inspire them to great work-or give them the opportunity to do so.” Put another way, all too often many employees simply end up with a case of “what have you done for me lately?”
Recognition industry pioneer O.C. Tanner recently inspired attendees at the recent Sapphire Now event in Orlando with an eye-opening discussion about the importance of appreciation. Due to an ever changing world the company has changed what recognition looks like many times over. However, their focus on always helping companies better appreciate people who do great work is one thing that never changes. The idea is that celebrating great work inspires people to “invent, create and discover” – and the end result is proven to be greater company growth.
Compelling new global research conducted by the Cicero Group demonstrated that strong performance recognition for great work significantly impacts employee engagement. With this in mind, here are a few reasons that O.C Tanner believes companies need to better recognize their employees:
- Companies with a culture of recognition have on average a 40% more engaged workforce.
- 79% of employees within companies that have a strong recognition program are highly engaged versus just 25% within companies with a weak recognition program.
- Employees in strong recognition cultures produced nearly twice as many innovative ideas per month.
- Consistent “above and beyond” performance recognition can add 3.5 years to an employee’s tenure.
- 87% of employees within companies that have a strong recognition program say they trust their manager.
Clearly, a simple “thank you” or “hey great job” can go a long way in making anyone in any aspect of life feel better. Likewise, within the workplace, valued employees identify as being a part of the shared company vision and mission.
O.C. Tanner’s mission recently faced its own challenges, albeit from a technical perspective. Due to competition, a changing workforce and rapid digitization, the company realized a great need to adapt in order to keep its leadership position. They required a way to keep pace with their customers demand for simple, personalized experiences across any channel, at any time, on any device.
To remain at the top of their game, the company wanted a single platform for all types and dimensions of employee award selection, design and sharing.
“We needed a new level of agility in our systems in order to successfully introduce new products.
-Ethan Kennelly, Director of Enterprise Architecture and Program Management, O.C Tanner
Building on an existing decade-plus long partnership with SAP, a recent S/4 HANA upgrade has taken things to the next level. Mr. Kennelly believes that it allows O.C. Tanner to more fully utilize their ERP, reduce manual effort and achieve their transformational objectives. Succinctly, SAP S/4 HANA brings the simplification, innovation required to support the development of O.C. Tanner’s digital strategy.
O.C. Tanner has redefined the recognition industry and their dedication to the people within organizations reflects their belief that the accomplishments of one can inspire the many - and the feeling of being truly appreciated is often something that money can’t buy.
This story originally appeared in the SAP Business Trends Community
