Imagine a doctor’s office where diagnostic images were scanned for anomalies not by a doctor, but by a machine. Think about the implications of a marketing application that can determine the emotions of customers based on written reviews. Or how about an onboarding tool that can coach new employees and build customized learning programs based on their personal learning style?
First impressions matter. Just ask the movie industry. A bad trailer, a couple of negative reviews or a poorly chosen title can doom a movie to lose millions at the box office and live out its DVD existence in the bottom of a bargain bin at Walmart.
Depending on which surveys you look at, somewhere between 70% to 85% of employees in the workforce are not engaged. Those are discouraging numbers for employers, because disengaged employees score lower in productivity metrics than they should. In practical terms, that means they contribute less, lack motivation and show little interest in their work.
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Do you know how much your organization spends on employee recognition each year?
Best practice organizations are spending 1% or more of payroll dollars on an increasingly diverse range of employee recognition programs.
As more companies realize the strategic value of recognition for reinforcing particular behaviors, practices and activities that result in better performance and positive business results, budgeting has become much more strategic.
