Recent research from Accenture, “The High-Performance Workforce Study 2010,” found the same to be true for many organizations:
“Incentive, training and other related workforce programs at US and international companies held steady or were increase the past 12 months. … In the US, 39% made no changes to their recognition programs, while 28% increased them. For incentive compensation, the figures were 45% and 23% respectively. … International companies showed even more support for retaining or growing recognition, incentive and training programs, with just 15% and 19% cutting recognition and incentive compensation programs, while about 75% maintained or grew them.”This report further supports Globoforce research and Towers Watson/WorldatWork research that companies on a global basis did not reduce or eliminate recognition and incentives programs on as drastic a scale as anticipated. This should help employers as they work to rebuild staff to pre-recession levels but may have to overcome a work atmosphere tainted by cost-cutting actions.
Globally, just over half of employers feel they are prepared to adapt and manage change in economic uncertainty. Strategic recognition is a powerful tool for change management, especially as a communications vehicle for changing strategic objectives and how employees can contribute to those objectives in their daily work.