…and Put Them to Work for You.
Bill, one of my savvy colleagues, recently directed my attention to an article I’d overlooked in the September issue of HR Magazine, titled: “Values-Based Companies Outpace Others”. According to the article, a recent study by LRN reported that companies who are “self-governing”—that is, based on trust, values and a common commitment to purpose—show greater innovation, stronger employee loyalty and better financial performance.
This is no surprise to us, here at Globoforce. There’s a reason why we tie our employee recognition solution to our clients’ core values. That’s because, over and over, studies show that values-driven recognition is a powerful tool for reinforcing culture and driving business results.
In fact, in the soon-to-be-announced SHRM/Globoforce Employee Recognition Survey, we found that when companies tie recognition to corporate values, employee engagement levels rise by more than 100%.
And in our Fall Workforce Mood Tracker Survey, which we’re currently putting the final touches on, we saw that when companies practiced values-based recognition, employees were far more likely to remember all of their organization’s core values—presumably because they have the opportunity to live and practice them on a daily basis.
Those same employees were also far more likely to report that they had a strong grasp on company goals and objectives.
These results echo what experts find across the board. Check out part two of this post, where we’ll talk about other analysts’ findings!