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Most managers and executives know that employee recognition is important, but really, just how important is it to the overall good of the business?

 

Here’s one metric that might shed some light on it: according to new research from Bersin & Associates, organizations “recognition programs that are highly effective at improving employee engagement had 31 percent lower voluntary turnover than those organizations with organizations with ineffective recognition programs.”

 

Bersin’s research also found that “in organizations where recognition occurs, employee engagement, productivity and customer service are about 14 percent better than in those where recognition does not occur.”