To improve corporate culture, 72 percent of employers say they use employee assistance programs, according to a survey by the Society for Human Resource Management and Globoforce.
Eighty-two percent of respondents report experiencing a positive impact on employee engagement because of EAPS, and 54 percent of respondents say EAPs have improved retention rates.
However, regarding performance reviews, 61 percent of respondents say they reward employees based on job performance while 56 percent of respondents say annual performance reviews accurately measure the evaluation of employees' work. Another 52 percent of respondents believe managers and supervisors effectively recognize and appreciate employees' performance.
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While 50 percent of respondents report that their recognition programs correlate with company values, 27 percent of respondents say this is not the case within their organizations, and 18 percent of respondents say they no longer offer recognition programs. Six percent of respondents say they anticipate implementing recognition programs in the next year. Considering these figures, it may not be surprising that 75 percent of respondents say employees are unhappy with the amount of recognition they receive.
Among the respondents, 16 percent say the recognition programs are there to classify high and low performers, and 12 percent say they separate the most influential employees.
"Employee recognition programs are especially powerful when the design allows managers and employees to report successes throughout the year and reward and recognize individual performance accordingly," says Mark Schmit, vice president of research at SHRM.
While 11 percent of respondents say 81 percent to 90 percent of employees are highly engaged, 18 percent of respondents report that 71 to 80 percent of employees are highly engaged. Meanwhile, 14 percent of respondents say 61 percent to 70 percent of employees are highly engaged, and 13 percent of respondents say 51 percent to 60 percent of employees are highly engaged.
Another 11 percent of respondents say 41 percent to 50 percent of employees are highly engaged, and 13 percent of respondents say 31 percent to 40 percent of employees are highly engaged.
"Highly engaged employees can boost a company's profitability," says Eric Mosley, CEO of Globoforce. "Our research finds that when organizations invest 1 percent or more of payroll into recognition programs, they experience a positive impact on both employee engagement and financial results."
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