Engraving Services Blog
- Trackback Link
- Post has no trackbacks.
The bottom line to your bottom line is having the sense to know that it takes a culture of recognition within an organization, be it small , medium or large to improve business performance.
There seems to be a large fracture in the way many businesses see recognition, for instance, many managers perceive recognition in a totally different way to employees, whether they be corporate or factory floor.
Businesses ranging from a small workshop or retail outlets right through to large corporations break up recognition into basically three main components.
Firstly there is the day to day general recognition, the second is informal recognition and the final is Formal Recognition.
It is important to note that formal recognition is not simply a matter of giving an award as Corporate Recognition is multi layered within complex structures.
Recognition does give results, it improves performance at every level and the underpinning to that is the amount of in depth analysis and research that has gone into the psychology of recognition and the results that can be directly delivered to your BOTTOM LINE.
In 2007 Gostick and Elton produced a publication called the Carrot Principle; which shows beyond doubt the results recognition can play at providing meaningful results within your workforce. Another publication shows how to put together a powerful recognition culture within your business. The WOW ! Workplace.
The Top Five reasons companies implement recognition programs are as follows. ( Fig. 2)
- To increase employee morale
- To create a positive work environment
- To create a feeling of belonging
- To retain people/top performers
- To encourage loyalty.
The Jackson Organization commissioned a large scale study that asked employees how well their Employers recognized excellence. The responses fell into four distinct categories. From those that did a great job motivating and recognizing employees to those that did the worst.
The study compared the success of a company's recognition program ( based on their employee's perception) to their financial performance. It looked at a companys return on equity, which is the fiscal year earnings divided by the average shareholder equity and it correlated this information to the company's recognition program.
The findings were the worst performing companies were those with little or no recognition programs, these only produced a 2.4 % return on equity.
Those with the the most fulsome recognition programs in place average a whopping 8.7% return on equity or approx three times higher than the bottom group.
The second metric in the study was to review a company's return on assets which are the fiscal yearly earnings divided by total assets. The trends were similar.
Companies with little or no recognition programs returned an average of 1.7 % return on Assets while the best performing programs saw an average 6.1% return.
A third measure used in the study looked at a company's operating margins: Income compared to Sales and the trend simply continued
It is patently obvious that companies with a quality recognition program had operating margins that were almost 6 times SIX Times higher than companies little or no recognition program.
The research program had come to terms with anecdote and supposition that had proliferated previously and had taken the facts and placed them squarely at the forefront of one of the most important factors in ensuring a happy, successful, productive and profitable workforce.
The Gallup organization had undertaken a survey of 5 Million workers ( 5,000,000) and found that an increase in recognition leads to.
- Lower turnover rates
- higher customer loyalty
- higher overall productivity
Our recognition consultants can assist you in developing a quality awards and recognition program to assist your efforts in encouraging higher productivity and increased sales and profits. Call us today to make an appointment. PH: 1300 327 898 or email email@example.com to organize an appointment.
Thank you to the R.S. Owens group of Illinois USA and in particular Larry Mahoney VP of Sales and Marketing for their wonderful information and facts etc. R.S.Owens are recognized as one of the World's Premier Recognition manufacturing and development companies and EJ magazine.
- Trackback Link
- Post has no trackbacks.
The Onkaparinga Council south of Adelaide in South Australia have embarked on a beautiful Main Street project enhancement project for the historic town of Willunga.
Engraving Services Co were called upon to assist in production of a range of heavy duty Brass Photo chemical milled Pavement inlays and complex folded Brass for hardwood seats .
The project utilized the collaboration of renowned design firm Mulloway Design, Westley Tully style="font-family: verdana; font-size: 16px;">, Artist and the expertise of Engraving Services Co to deliver some extremely complex transfer of imagery and shapes for the pavement inlays and hardwood seats.
Camco were the overseeing construction and management company that has supervised the entire project including installation and Westley Tully collaborated with Neil Robson Constructions for the delivery of the exquisite Harwood machined seat installations.
The large format brass strips were processed in our prodution facility including film production and output, resist exposure and wash out, etching (Photo chemical milling), clear coating with UV Supershield and welding of installation pins to the rear.
The Brass strips were in a range of lengths all were 6 mm thick and required careful processing by our in-house artisans and etch master, the processes involved included bevelling, linishing, chemical milling, paint filling , oven firing, clear coating and oven firing.
The prestigious and sophisticated inlays lend themselves ideally to the heritage precinct and reflect the history of the local buildings in a sympathetic yet stylish fashion.
Engraving Services Co are recognized leaders in Photo chemical milling and metal printing techniques, often called upon to assist in projects that require a sophisticated artistic bent, our team are proficient artists and technicians in their own right. We assist Architects, Designers and Government at all levels across Australia to find solutions in presenting the best possible options for interpretive and historical installations.
Brass Seat inlays after processing in our Chemical etching plant.
We also provide assistance to Sign companies and Engravers nation wide with our capabilities. Our discreet and professional approach has allowed other companies to take advantage of the products and services we provide.
Call and ask to speak to Jessica on toll free: PH: 1300 327 898 or email on engrave@engravingservices if you have a project you would like us to assist with.