According to Forbes and Bersin and Associates, companies with recognition-rich cultures boast 31 percent lower voluntary turnover rates than companies that don’t prioritize employee recognition.
If you’re wondering whether recognition can improve your company’s bottom line, consider these statistics:
- Recognition increases employee engagement between 14 and 60 percent
- Seventy-six percent of employees are unsatisfied with the recognition they receive
- Employees who don’t feel recognized are twice as likely to quit within a year
On average, companies spend more than twice the value of an annual salary to fill highly-skilled roles. (If you’re not sure how much turnover costs your company every year, try our Cost of Turnover Calculator.)
With its focus on high-impact recognition, Bonusly addresses the common sources of employee dissatisfaction in companies of all types and sizes, empowering teams to celebrate success, strive toward shared goals, and reinforce company values.
With Bonusly, recognition is insightful.
"It is really hard, even in a small company, for management to know about the many amazing things done each day to solve problems or come up with a creative approach. Bonusly helps me know that those things are acknowledged and rewarded,” explains Deb Fellows, founder and president of MyNorthMedia.
With Bonusly, recognition is effortless
“The service is so simple, and it gives us so much value," reports Bartosz Pietrzak, cofounder of Monterail in Poland. When he introduced Bonusly to his team at an all-hands meeting, “there was no need to explain it further. It met our goals perfectly.” One hundred percent of Peitrzak’s employees are actively using Bonusly to give and receive recognition. “The system is working so smoothly,” he says.
With Bonusly, recognition is flexible
"We are a collaborative environment and our best work comes from working across multiple departments and disciplines. It's great for your manager to recognize your work, but it's even better for the recognition to come from your colleagues,” raves Colleen Vos, culture and talent manager at Kaleidoscope. Employees from different departments can easily recognize one another and encourage future collaboration.
With Bonusly, recognition is timely
"The rollout went really well — people started using it right away," explains Maria Alparaz, and HR assistant at ZipRecruiter. Managers can recognize their direct reports and employees can recognize their peers and higher-ups, all in the moment and without third-party approval.
With Bonusly, recognition is inclusive
“I think about gratitude on a daily basis,” says Nabeelah Ali, a front-end developer at Typeform. Employees often recognize each other for going the extra mile and performing tasks that are outside of their normal job descriptions.
Want to learn more about recognition?
Here are a few resources our users have found helpful: