16 Statistics That Prove Employee Incentives Are A Must

The stats are in: offering employee incentives are a must. Having happy employees can make or break your business? But don’t just take our word for it–check out the stats below!

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Looking for more information? Check out  5 Employee Incentive Programs That Work.

90% of business leaders believe that an engagement strategy could positively impact their business, yet only 25% of them actually have a strategy in place.
More than 4 out of 10 (42%) employees consider rewards and recognition program opportunities when seeking employment.
51% of sales talent and 52% of employees are already participating in some sort of program where they work.
39% of employees feel underappreciated at work, with 77% reporting that they would work harder if they felt better recognized.
The presence of a corporate incentive program motivated 66% of employees to stay at their job.
Organizations that offer at least one recognition program and that have a low turnover rate (0%-5%) report statistically more recognition programs in place than the medium or high turnover categories.
A 5% increase in employee retention can generate a 25% to 85% increase in profitability.
41% of customers are loyal to a brand or company because they consistently notice a positive employee attitude, while 68% of customers defect from a brand or company because of negative employee attitude.
Disengaged workers cost the economy $300 billion or more per year.
Companies that actively engage workers profit more than those that don’t. If you look at Fortune’s “Best 100 Companies to Work For,” these organizations have averaged an amazing 200.6% return over the past decade.
Organizations with higher than average levels of employee engagement realized 27% higher profits, 50% higher sales, 50% higher customer loyalty levels, and 38% above-average productivity.
Companies using incentive programs reported a 79% success rate in achieving their established goals when the correct reward was offered.
Properly structured incentive programs can increase employee performance by as much as 44%.
Annual revenue increases are 3x higher in companies that use a tangible sales incentive over those that don’t use an additional incentive. When incentive programs are working, the potential for growth is much, much higher.
Companies that executed a formal, planned-out employee engagement program reported a 64% greater increase in the level of employee engagement than those without one.
Every year, according to the most recent figures, roughly $11 billion is lost due to employee turnover. Incentives are a great means of curbing this loss.

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1 Response

  1. July 11, 2017

    […] for businesses – so much so that a 5 per cent increase in employee retention can generate a 25 per cent to 85 per cent increase in profitability. Funnily enough, even though 90 per cent of business leaders believe that an engagement strategy […]

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