Why should you Woo?

"Making engagement happen will be the single most important business challenge of the next decade and the focal point of the war for talent"

Aon Hewitt, Trends in Global Employee Engagement (2014)
70percent 550bn

Companies don’t give enough recognition

Right now, 70% of employees are either not engaged or actively disengaged which costs the U.S. economy over $550bn in lost productivity each year.

And while 90% of business leaders think that a recognition strategy will improve business success, only 14% of organizations provide managers with the necessary tools for recognition.

Employees want real recognition

67% of employees rate recognition as the top motivator for performance (above all other financial and non-financial incentives). Despite this, only 65% of all employees received recognition for good work last year.

14 8 8percent

Recognition impacts the bottom line

Recognized employees are happier, have stronger emotional commitment to their jobs, and are willing to invest their discretionary effort to achieve future business results.

Aon Hewitt found that companies with strong recognition outperform others on all financial indicators (revenue growth +8%, operating margin +8%, total shareholder return +14%), and when Gallup compared top quartile engagement companies with others, they found that they averaged 22% higher profitability and 21% higher productivity.

Attract and retain top talent

Winning the talent war is now more important than ever. In addition to the significant cost of replacing employees (which ranges from $40,000 to $100,000+ depending on industry), business leaders are now facing unprecedented challenges including technological disruption, macroeconomic change, industry consolidation, and changing demographics and demands. Successfully navigating the way ahead cannot be achieved without great people and engaged employees.

Building an employment brand and culture that puts recognition, appreciation and people first is the single most effective way of reducing turnover and attracting the talent that will define future success. Bersin found that companies with effective recognition programs had 31% lower voluntary turnover, and that engaged employees are 87% less likely to leave their jobs. Conversely, 55% of employees stated they would leave their company to join a company with a strong culture of recognition.

31 87 55percent

Why WooBoard?

The recognition game is changing. The growing number of Millennials (aged 20-32) who now dominate the workforce do not engage with traditional recognition programs. Alarmingly, 90% of recognition programs do not generate adequate engagement to drive intended outcomes

WooBoard is an innovative solution built for today’s workforce. With a social format and a unified Points System that incentivises all engagement actions, it’s a fun, simple and lightweight solution that drives meaningful recognition and makes engagement happen.

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