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Employee recognition to recession-proof your team

Updated on February 7, 2023

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Rewards and recognition

Key Takeaways

Worried about how a recession could impact your team? You’re not alone.

HR leaders are bracing their organization for economic uncertainty — focusing on productivity, strategic hiring, and retention to stay ahead.

But what if one strategy could strengthen all three? Employee recognition in a recession is more than a checkbox exercise; it’s a powerful tool for driving performance, loyalty, and advocacy. Explore how a strong recognition platform and strategy can help recession-proof your workforce.

Frequent recognition drives positive business outcomes

Want a simple yet powerful way to drive performance? Increase recognition frequency. It’s a low-effort, high-impact strategy that directly influences engagement, belonging, and retention — key drivers of business success.

Research from Achievers Workforce Institute (AWI) shows that employees who receive frequent recognition feel more engaged and connected to their organization. When engagement and belonging are strong, job commitment and productivity follow.

Chart showing frequent employee recognition drives engagement and belonging
Source: 2023 Engagement and Retention Report

Don’t overlook this easy win. Embracing employee recognition in a recession can create a ripple effect that boosts morale, strengthens culture, and drives results across your organization.

The secret to recession-proofing your workforce? Recognition

During a recession, keeping employees engaged and motivated becomes even more crucial — especially for lean teams. Employee recognition in a recession is a cost-effective, measurable way to boost morale, improve retention, and drive performance.

But here’s why it matters to you — social and monetary recognition are both key to fueling engagement, and studies show that non-monetary recognition can have a lasting impact. By understanding and leveraging recognition effectively, you can create a more resilient workforce that not only survives tough times but thrives.

Download Recognition and reward to recession-proof your teams today and discover how recognition can drive engagement, retention, and resilience in any economy.

Profile image of author: Caitlin Nobes

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