Large Multinational Energy Company: Reducing Attrition With True Appreciation
Situation
A multinational energy company with over 40,000 employees had disparate recognition programs that they wanted to centralize and consolidate into one global recognition solution.
Solution
The energy company implemented Anniversaries and Employee Recognition through the Culture Cloud® platform. This has helped them move from transactional recognition experiences to showing true appreciation for great work through award nominations and meaningful presentations. Their global solution allows them to recognise employees anywhere in the world, and the company also uses Group Deposits often when employees complete major projects.
Results
With their new recognition solutions, 94% of employees receive recognition each year. O.C. Tanner’s global expertise and ability to fulfil global award needs has helped make the program successful all over the world. The company loves the partnership with O.C. Tanner’s Client Success teams, their custom award capabilities, and their assessment services to uncover the impact of recognition on employee retention at the organisation.
Analysis on the company’s data found recognition has a substantive and statistically significant effect on employee attrition. Receiving any type of recognition within the past month decreased the probability of attrition:
- When an employee receives recognition at least four times in 12 months, there is a 77% decrease in odds of attrition
- When an employee receives recognition at least 12 times in 12 months, there is an 89% decrease in odds of attrition
Looking at the “recognition spree” (the number of consecutive months an employee received any type of recognition), the probability of attrition decreases as the recognition spree lengthens. The odds of attrition decrease by an impressive 95% when an employee receives recognition for 9 continuous months or more.
