Stuart Cheesman of O.C. Tanner on why organisations should consider their recognition strategies
Speaking on the New recognition strategies to increase purpose, resonance and inclusivity REBA webinar on 8 June 2023, Stuart Cheesman, client strategist at O.C. Tanner said workplace volatility is driving the resurgence of recognition as a policy.
Said Cheesman: “This volatility is heightening people risk. Our studies have shown that around 79% of the people that leave do so because they feel under-appreciated.”
A recognition strategy that engages employees can help address this. “Employees are the centre of what we do, now more than ever,” he said. “Creating that air of belonging, those communities within organisations to drive the right cultures, is incredibly important.”
REBA’s poll of webinar attendees supports this resurgence of recognition. More than a third (35%) of attendees had changed their recognition strategy in recent years, with a further 56% planning to make changes.
As well as helping to stem the Great Resignation, Cheesman said research from O.C. Tanner's Global Culture Report 2023 shows that implementing a recognition strategy helps create the right culture. “Burnout reduces by up to 38%, employee tenure increases by about 84%, and retention rates increase by 43%. On top of that, employees are 33% more productive.”
In partnership with O. C. Tanner
Giving teams the integrated tools they need when, where and how they need them.
