Report unveils proven ways organizations can shape a thriving culture in order to benefit employees and the bottom line
SOUTHBOROUGH, Mass., DUBLIN, & WASHINGTON D.C. – June 20, 2016 –
Organizations can achieve higher levels of engagement, productivity and retention by focusing on creating a more human, caring workplace, according to a new research report published by the Society of Human Resource Management (SHRM) Foundation, the charity affiliate of the world’s largest association devoted to human resource management, and sponsored by Globoforce®
, a leading provider of social recognition solutions.
The report, titled “Creating a More Human Workplace Where Employees and Business Thrive,” was authored by Cycle to Civility founder and WorkHuman 2016 speaker Christine Porath, and details how employees thrive in caring workplaces, leading to improved employee performance, customer service and overall satisfaction at work.
Key insights and findings from the report – the latest in SHRM’s Effective Practice Guidelines Series – include:
Organizations that succeed put their own people first because they recognize their employees are the key to creating long-term value.
Research shows that thriving workers are not only more satisfied and productive, but actively engaged in shaping their organization’s future. In a study of six white-collar organizations, higher-thriving employees were 32 percent more committed to their company and 72 percent more satisfied with their job.
Additionally, a 2012 analysis of 263 research studies covering 192 companies found that organizations with the most engaged employees outperformed those with the least engaged employees, and were 22 percent more profitable, 21 percent more productive and had 65 percent lower turnover rates.
Creating a human workplace can turn losses stemming from dissatisfaction and disengagement into profits.
For the past several decades, job satisfaction and engagement have declined in the United States, primarily due to demands exceeding employees’ capacity, more competition resulting from a leaner, post-recession workforce and technology that keeps employees connected to work 24/7. According to a survey conducted by Nielsen Company for The Conference Board in 2012, fewer than half of all employees (47 percent) are satisfied with their jobs.
By creating more human workplaces, organizations can effectively combat stress and dissatisfaction associated with the current state of the workforce. One study found that organizations with the most engaged employees achieve 65 percent greater share-price increases, 15 percent higher employee productivity and 26 percent less employee turnover.
Recognition is a foundational element towards building a human workplace
Frequent recognition helps to create a meaningful, more human culture, increase happiness at work and improve engagement and retention. The report cites numerous company examples about how recognition reinforces company values and has a long-term impact on employees, including JetBlue and Cisco Systems.
The proven benefits of recognition are substantial. An IBM Smarter Workforce Institute survey of more than 19,000 workers found that the engagement level of employees who receive recognition is almost three times higher than the engagement levels of those who do not.
“We have spent years researching the impact of recognition and appreciation on employees’ spirits, performance and overall happiness,” said Derek Irvine, vice president of strategy and consulting, Globoforce. “Our proprietary workplace studies wholeheartedly support the findings from this report: human workplaces are the key to having a successful and thriving organization.”
“For many employees, the current state of the workplace is depleting and stressful,” said Mark Schmit, Ph.D., SHRM-SCP, Executive Director, SHRM Foundation. “It’s our job as HR professionals to change this. This report shows what actionable steps organizations can take to boost employees’ positive emotions and well-being at work. HR leaders that heed this advice will reap the benefits of a more inspired and satisfied company.”
About the SHRM Foundation
For over 40 years, the SHRM Foundation has focused on the advancement of the workforce through studying, analyzing, reporting and promoting the best in human resource management. Our commitment to the future of HR is strengthened with every scholarship we award, study we sponsor and every thought leader connection we make. Our donors are members of a rare circle of knowledge about what works to create workforce success — become one today at shrmfoundation.org. The SHRM Foundation is a 501(c)(3) nonprofit organizational affiliate of the Society for Human Resource Management.
Globoforce is a leading provider of social recognition solutions, helping companies build stronger, more human cultures through the power of thanks. Named one of the Best Workplaces by the Great Place To Work®
Institute, Globoforce is trusted by some of the most admired companies in the world to inspire and energize employees and create best places to work. Our award-winning SaaS technology and proven methodologies empower HR and business leaders to take a modern, more strategic approach to recognition programs. What results is measurable business success, qualified by increases in employee engagement, retention and productivity. The company pioneered the WorkHuman movement, created to galvanize organizations and leaders worldwide to create a more human workplace. Globoforce is co-headquartered in Southborough, Massachusetts, and Dublin, Ireland.
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