The Value of Encouraging the Heart
Encouraging the Heart is the fifth practice in The Leadership Challenge Workshop and one that leaves some of our more numbers-driven participants stone cold dead with confusion! So we thought it useful to share this infographic showing the value of Encouraging the Heart in a financial sense.
But first a little explanation of what ‘Encouraging the Heart’ means.
Encouraging the Heart is about:
· Recognising contributions by showing appreciation for individual excellence, and
· Celebrating the values and victories by creating a spirit of community.
In these two seemingly simple tasks, how do companies do?
Encouraging the Heart – on the ground realities
First off, it seems companies are taking this seriously. Forbes estimates that companies spend over $46bn on employee gifts and gizmos alone.
But as the article goes on to point out – most of this money is not spend on employees doing exceptional things – but for just sticking around in the job!
And this translates into some painful on-the ground realities. Companies with ineffective employee recognition programmes experience on average 46% more staff turnover (Bersin & Associates).
Those that do have formal recognition programmes (not including the gifts and gizmos!) by contrast experience 14% higher levels of employee engagement.
Bottom line, it shows that Encouraging the Heart is not just a touchy-feely ‘nice to have’, but something that makes sound financial sense. Check out the infographic below for more detailed information.
|Encouraging the Heart is the fifth practice in Talent Technologies’ The Leadership Challenge Training Workshop. The Leadership Challenge equips you with the skills to to thrive as a global leader. Contact us here for full programme details.|
Encouraging the Heart – infographic