Comments on: Employee Recognition Is Up in Down Economy http://maketheirday.wordpress.com/2009/02/20/recognition-is-up-in-down-economy/ Employee Recognition Strategies for Managers Thu, 10 Sep 2009 21:27:31 +0000 http://wordpress.com/ hourly 1 By: Cindy Ventrice http://maketheirday.wordpress.com/2009/02/20/recognition-is-up-in-down-economy/#comment-400 Cindy Ventrice Thu, 26 Feb 2009 21:14:36 +0000 http://maketheirday.wordpress.com/?p=695#comment-400 Thanks Derek. I will keep an eye on your posts for the new index. Thanks Derek. I will keep an eye on your posts for the new index.

]]> By: Derek Irvine, Globoforce http://maketheirday.wordpress.com/2009/02/20/recognition-is-up-in-down-economy/#comment-398 Derek Irvine, Globoforce Thu, 26 Feb 2009 17:20:46 +0000 http://maketheirday.wordpress.com/?p=695#comment-398 Great post, Cindy. We've found the same trend and are tracking it through our recognition index. For example, during the week of Nov. 17, while panic was spreading and economic indicators were plummeting, there were record levels of peer-to-peer employee awards issued in FORTUNE 500 companies. This was the highest week ever for peer-to-peer recognition this year among companies we track through our system. Why is this happening? Eric Mosley, our CEO, says it best: “While no one can control this highly volatile global economy, many found a way to reach out and support their fellow co-workers within their own smaller worlds. Caring and concerned people turned to their company’s peer-to-peer recognition program as a way to make a connection and appreciate someone around them for their efforts. It’s an example of human nature at its best – recognizing and rewarding the good in others and creating powerful and personally meaningful thank-you moments while the world around them seems to be caving in. In fact, it’s a pattern we’ve seen before: during times of crises and uncertainty, recognition, appreciation and support for friends and colleagues increases dramatically and unlocks something inside us that wants to give and be thankful for each other.” We'll be compiling an updated index next week and post on my own blog. The last index can be viewed here: http://globoforce.blogspot.com/2008/12/employee-recognition-sores-as-dow-jones.html Great post, Cindy. We’ve found the same trend and are tracking it through our recognition index.

For example, during the week of Nov. 17, while panic was spreading and economic indicators were plummeting, there were record levels of peer-to-peer employee awards issued in FORTUNE 500 companies. This was the highest week ever for peer-to-peer recognition this year among companies we track through our system.

Why is this happening? Eric Mosley, our CEO, says it best: “While no one can control this highly volatile global economy, many found a way to reach out and support their fellow co-workers within their own smaller worlds. Caring and concerned people turned to their company’s peer-to-peer recognition program as a way to make a connection and appreciate someone around them for their efforts. It’s an example of human nature at its best – recognizing and rewarding the good in others and creating powerful and personally meaningful thank-you moments while the world around them seems to be caving in. In fact, it’s a pattern we’ve seen before: during times of crises and uncertainty, recognition, appreciation and support for friends and colleagues increases dramatically and unlocks something inside us that wants to give and be thankful for each other.”

We’ll be compiling an updated index next week and post on my own blog. The last index can be viewed here: http://globoforce.blogspot.com/2008/12/employee-recognition-sores-as-dow-jones.html

]]>