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Everyone likes to be appreciated by the people around them, and the workplace is no different: research shows that companies with employee recognition programs enjoy higher levels of employee engagement and retention. National Discount Program Partner O.C. Tanner helps companies gain these benefits by working with them to help connect, engage and encourage their people through the simple art of appreciating them.
Appreciation and recognition programs take many forms. Service awards recognizing tenure are the most common; other elements can recognize performance such as meeting sales goals or completing a project successfully, or commitment to wellness initiatives. With the increasing number of retirements in the System, organizations are looking for a way to celebrate employees’ careers. Many do this with a customized, personalized gift.
“Appreciated employees are more likely to stay with an organization,” says Chris Koehn, O.C. Tanner Managing Director, Client Solutions, Rewards & Recognition Strategist. “It’s also the single easiest way to get even more great work from already wonderful employees.”
Research bears this out: employees at companies without a service award program stay with the company an average of 4.7 years; at those with a service award program, employees stay for 6.7 years. Employees who feel appreciated at work are less likely to leave than those who don’t. According to the O.C. Tanner Institute and Bersin by Deloitte, culture has become the number one tool to attract, retain and engage employees – more important than even compensation. Even more, recognition helps create a culture of appreciation that appeals to today’s professionals. This culture is strengthened by managers who are encouraged and trained to actively appreciate their team members.
“Employees leave their managers, not the company,” says Chris. “We work with companies to educate their managers about the importance, value and impact of the public appreciation of their staff. It ties directly to productivity and profitability. Whether it’s training, service awards or other incentive programs, O.C. Tanner understands the nuances to make every celebratory experience meaningful and impactful.”
O.C. Tanner has been an NDP partner for 13 years, and many Farm Credit organizations have taken advantage of the preferred rates through the program. If you’re interested in learning more about how O.C. Tanner can help you build a culture of appreciation, contact Stephanie Barton, Director, Marketing and Communications via email, or call her at 303.721.3217.
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