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Companies today are faced with the pressing challenge of finding new, cost-effective ways to motivate a workforce that has become increasingly fearful, distracted and, most importantly, unproductive. “Psychological recession” and “layoff survivor syndrome” are a few of the new buzz words that have entered our vernacular, which describe the state of many employees who have had to say goodbye to co-workers, bonuses, pay raises and benefits – all while taking on more work. While this reality may seem daunting, there are steps companies can take to lift employees out of this recessionary rut, and the results can have an immediate impact on corporate productivity and morale. A 2007-2008 global workforce study conducted by Towers Perrin showed that companies with high employee engagement show a 19.2 percent increase in operating income while low-engagement companies show a drop of 32.7 percent.
In this webinar, Derek Irvine will explain why strategic recognition is precisely the rescue package HR managers need right now to re-engage employees, galvanize them around key goals, and put the company on track to greater productivity. Now more than ever employees are in dire need of a boost to lift their spirits and re-focus them on their job. A simple thank you or a small reward can do wonders to elevate mood, ignite morale and engage employees. When these rewards are tied to company values and goals, it reinforces those important messages and infuses them back into the workforce. Companies that figure this out will not only experience the benefits in the near term, but will be in a strong position when the market turns. Moreover, companies can re-align and consolidate existing rewards budgets to accomplish this critical task and most often do it at a significant savings of 50 percent or more of existing program costs.