Employees Motivated by Praise, Not Money
Seven of every 10 employees are not engaged, research shows. So why should CIOs and other tech managers care? Because employee engagement directly impacts company performance. Departments within the top half of their organization in employee engagement nearly double their odds of success, Gallup reports. Those in the top quarter of engagement experience 37 percent less absenteeism, 25 percent less turnover and 21 percent higher productivity than counterparts in the lowest quarter. And CIOs may be pleased to know that they can make more positive impact here with a kind word, as opposed to a hefty bonus, according to recent survey research from Make Their Day and Badgeville. Findings reveal that the vast majority of workers value recognition for contributions over monetary-based rewards. The results support prior research from McKinsey & Company which revealed praise, attention and opportunities to lead projects were more effective motivators than performance-based raises, cash rewards or stock options. "Workers of all ages—especially the rising millennial population—are motivated by real-time feedback, fun, engaging work environments and status-based recognition over tangible rewards," says Ken Comee, CEO of Badgeville. Make Their Day is an employee motivation firm, and Badgeville is a popular gamification platform. More than 1,200 workers participated in the research.