In the last decade, there has been a massive shift in employee expectations. The best companies in the world have adjusted to this shift by realizing the power of creating people-first cultures that value the happiness of employees as much as the bottom line. Here's why becoming a people-first organization makes good business sense:
The business benefits are clear if your team is engaged. Kudos is designed to take your engagement to the next level with our platform. With over 300 clients globally, we have seen organizations of all types achieve high-performance cultures. Here are a couple of stats that highlight how our clients, that follow our best practices, are benefiting from Kudos:
The benefits of a highly engaged team are clear when you compare organizations that focus on strategies and tactics that win them "Best Place to Work” awards. Organizations that pursue and win these awards consistently outperform theirs peers and the market. Here is the proof:
The business outcomes and cost savings associated with high employee engagement paint a clear picture of why forward-thinking organizations are focusing on implementing a variety of programs and tools that are designed to create sustainable employee engagement.
What distinguishes the winners of Fortune 100’s Best Places to Work or Glassdoor’s Best Place to Work comes down to four common best practices:
This tells us is that leading organizations focus on frequent communication with their people to reinforce what they stand for. Frequently recognizing and celebrating successes (both large and small) and encouraging teams to reach for their potential is the key to winning the hearts and minds, achieving higher employee engagement which results in best-in-class corporate performance.
As showcased, there are many positive business outcomes to activating a high-performance culture. In order to achieve and measure these positive outcomes we focus on these seven measures at Kudos:
The last two measures are areas that you can easily measure the return on investment (ROI). Below we'll focus on reduced turnover costs; this is usually where the largest and most visible impact to the bottom line can be seen:
To calculate the ROI you will use the following equations:
ROI = [Savings from Reduced Employee Turnover – Cost of Program] / Cost of Program
Savings from Reduced Employee Turnover = [Cost to Replace Employee + Cost to Onboard New Employee] * # of employee exits that were avoided
If you don't have these numbers for your organization, feel free to use these benchmarks you can use when calculating this for your organization:
Did you know? Kudos clients typically see an ROI between 2.5 - 7x (ie between 250% to 700%).
As one of the first organizations to bring social recognition to the market, Kudos is now the first company to take the promise of peer-to-peer recognition to a more strategic and effective level. We are helping organizations drive individual and corporate performance in over 80 countries around the world and look forward to supporting your efforts to develop a High-Performance Culture.
If you would like to learn more, give us a shout at email@example.com or drop us a line at 587-955-9191. We’re here to help!
Kudos is an employee engagement, culture, and analytics platform, that harnesses the power of peer-to-peer recognition, values reinforcement, and open communication to help organizations boost employee engagement, reduce turnover, improve culture, and drive productivity and performance. Kudos uses unique proprietary methodologies to deliver essential people analytics on culture, performance, equity, and inclusion, providing organizations with deep insights and a clear understanding of their workforce.Talk to Sales
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