When it comes to company success, one of the most effective things owners and management can do is recognize a "job well done" from employees. Unfortunately, most employees feel quite under-appreciated in their given jobs. According to O.C. Tanner, "As the global economy continues to be challenging, the key to success for multi-nationals will be further engaging and aligning employees to the company cause."
Many companies are becoming aware of this lack of recognition, and as a result, 39 percent of global employees participated in the same type of recognition programs as their North American counterparts. They know that in some cases, employee engagement can increase by 50 percent with these type of programs. The fact is that every employee, no matter where he or she lives in the world, appreciates sincere recognition.
FIS launched a global recognition solution program for its 32,000 employees and experienced some very positive results. Some of the stats include 61 percent of employees feeling an increase in appreciation and recognition, 31 percent feeling an increase of care from managers, 29 percent increase in employee pride in the organization, and 16 percent increase in overall engagement in the company.
While certain recognition practices work better in some areas of the world, while others work better in other parts, there are some that are universal. These include being inclusive of all employees, base recognition on performance or achievements over time, present recognition in a meaningful way, incorporate symbolism, and several other practices. Studies show that in Asia, the most important thing to employees is performance-based recognition. In Europe, it’s about performance-based recognition and meaningful recognition presentation. And in Latin America, the most effective means is meaningful recognition, senior management involvement, and public presentation of recognition.
According to O.C. Tanner, "Global recognition is easier than you think. If you keep in mind both the similarities and local nuances, you can develop a united recognition strategy that impacts all of your employees, all around the world."