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Kim Shepherd Shares the ROI in Recognition and Rewards with AMA Quarterly

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Decision Toolbox CEO Kim Shepherd contributed a feature article to AMA Quarterly sharing her insights into where a company’s ROI might prove strongest in the improving economy.  In “The Big ROI in Recognition and Rewards,” Kim states that if you are a true leader who cares about your company’s performance you have to devote a huge chunk of critical thinking to both recognition and training/development. Why?  They are major factors in employee engagement, and employee engagement is essential for a thriving bottom line.

Excerpt from the article:

Engagement Pays

According to Andrew Graham, writing for the Association For Talent Development, there are five important employee engagement needs, and two of them are recognition and training (the others, by the way, are belonging, enjoyment and alignment). Gallup’s 2013 State of the Global Workforce Report found, as they have found in previous reports, that employee engagement is not only an important predictor of organizational performance, but is also may be more important a predictor than earnings per share.

Another critical reason why employee engagement is important is that it helps you keep your best people. The job market is more competitive today than it has been in years. Decades. Top talent is in demand, and recruiters are becoming more and more adept at luring employees away from their current job. I know — that’s what my company does!

And that’s where some hard money does come into the picture: According to a report in Bloomberg BNA (Bureau of National Affairs), it costs you about 1.5 times a position’s annual salary to recruit, train and onboard a replacement. Because of that, turnover costs US businesses $11 billion annually. So it’s hard to overstate the importance of keeping your good people in their seats in this market.

Lots of people believe it’s all about the money. The money — revenue, that is — is a consequence, a result. And a good one. But success really is all about the people. If they ever remake Jerry Maguire, Cuba Gooding Jr. is going to have to get Tom Cruise to chant, “Show me the engagement!” The way I see it, my job as CEO is to do whatever I can to build engagement . . . so that my company can meet and surpass our goals.

Check out the full article here.

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