At Redii we help to create extraordinary work cultures using employee recognition. We believe employee recognition is one of the fastest ways to increase employee engagement and impact your attrition rate.
As an example, one of our clients CHOICE, had an attrition rate of 16% at 2014 FY end, today it’s around 7%. When you translate this into dollars saved, you realise the potential growth that your business is missing without a proper employee recognition program.
Strategic employee recognition is a game changer for organisations, let me explain to you why:
When you create awards to set specific goals in your organisation and reward your employees for achieving them you move employee recognition to the next level.
Our client Melbourne Real Estate is a great example. It encouraged all its business development managers to ask all clients they were dealing with, to leave a Google review, of course, stating their name on it and describing the client experience.
Melbourne Real Estate’s objective was to increase awareness and penetration in the market and having a strong presence online was key to make it happen.
They created the Google Review Award and for every review published on Google, the employee received points. What gets recognised gets repeated, so, after a couple of months, they had extraordinary results.
- Due to a large number of reviews, now over 400+ their organic presence online drives a lot of leads to the business.
- Employees are engaged and motivated to work hard to get that review! Because they get points for each review and they can use the points at the Redii shop and exchange them for holidays, experiences, the latest gadgets or e-cards.
PwC revealed on a survey that innovation (developing new products and services) is the top priority from CEOs across industries and around the world, therefore encouraging innovation through a reward and using strategic recognition helps in three ways:
1. Everyone is clear about the meaning of innovation. There is no misunderstanding about what it means for the company and how the company wants everyone to understand the concept.
2. Rewarding innovation helps organisations to be clear on how important innovative behaviours are for the company.
3. It helps employees to repeat behaviours that show innovation.
Strategic recognition has many benefits when applied the right way. As you can see it can be an interesting avenue for business growth. Redii is here to give you a hand to set up awards to support your employees to behave in a desired way. Let us show you how.