Do you know the number one reason why people leave their job? Data shows recognition is the number one driver of employee engagement. When employees aren’t duly recognized for their hard work, they become dissatisfied and seek new opportunities. As such, employee recognition should always be a part of your company’s organizational culture. Remember, happy employees lead to a more productive and results-driven workplace.
What is Employee Recognition?
Employee Recognition is the acknowledgment for a job well done. Recognizing dyour employee’s efforts don’t need to be expensive! It may be a genuine compliment, a pat in the back, or a ‘thank you’ email.
What Makes Recognition Effective?
Effective employee recognition is sincere, immediate, specific, and meaningful. More importantly, it is objective. It will inspire all employees in the company if given without biases.
Why is Employee Recognition Important?
Studies showed that 79% of employees quit because of lack of appreciation. Appreciation is a driver of job satisfaction and engagement which in turn motives employees to do better work. Efront suggests some benefits of recognizing employees:
- Recognition Increases Employee Productivity- When employees are happy, they are more productive. It’s because there is less stress in the workplace. Companies who prioritize employee recognition experience 50% higher productivity.
- Acknowledging Employees Reduces Employee Turnover- Employees want to feel valued. When employees are recognized, they stick around. A 31% lower turnover was achieved by companies with an employee recognition program.
- Acknowledging Employees Promotes Loyalty- Rewarding hard work generates loyalty. It makes your team feel an emotional bond with your organization.
- Recognition Improves Team Culture- Showing appreciation creates a great workplace environment. As such, it will enable an organization to grow. That contributes positively to your organizational culture.
Are You Following Employee Recognition’s Best Practices?
Employee recognition done well will increase productivity and reduce turnover. As suggested by Elle Mason from Bonusly, here are five best practices for recognition programs:
- Define Clear Objectives and Criteria- Employers should clearly state the behaviors they would like to see. And they should also explain the impact of those behaviors and actions on business objectives.
- Use Multifaceted Rewards- There are different ways to reward e mployees for their good work. Money is the most common but not the most effective. Perks that match your organizational culture can be the most effective ones. Similarly, growth opportunities can also provide significant motivation.
- Give employees voice and choice- Engage your employees to know what rewards they would find most beneficial. Giving employees a say makes recognition more effective.
- Ensure Effective Implementation- Communicate the recognition program clearly. Explain how it will work, why it’s being implemented, and when it will take effect. Employees should be able to see when their peers are recognized, fostering a culture of acknowledgment and recognition.
- Measure Its Effectiveness- Successful recognition should positively impact other factors. Gather feedback regularly, and use it to adjust your program where necessary.
- Some Employee Engagement Trends Today
- Giving Points to Your Team- Send bonus points to recognize everyday wins. In this way, employees can choose their own rewards in the bonus catalog. This ensures that they are getting what they actually like.
- Brag About Employee Recognition= Brag about recognition in company newsletters or digital bulletin boards. Alternatively, you can shout out employees who go the extra mile on your facebook page. It gives an extra dose of pride to the employees and shows you’re paying attention to their efforts.
- Try Random Acts of Fun- People love variety and surprise. Play spin a wheel to reward employees. Have a monthly peer-nominated award. Invite family members to surprise recognition events. The money will be spent, but the fun experience will stay with them forever.
- Offer Wellness Activities- A gym membership help employees maintain their physical health. While offering yoga classes can help employees unwin d after a hard day’s work. Pay for race entry fees and give participants a company t-shirt. It’s a great way to encourage healthy activities, build comradery and show your face in the community.
- Adult Education Incentives- Set up learning opportunities to recognize performing employees. You might not be able to afford full tuition reimbursement programs but encouraging employees to take classes at local educational institutions would be a great intermediate step.
Business can use employee recognition as a catalyst to drive positive change and foster an engaging work environment. Acknowledging a job well done will encourage employees, connect teams, and foster a culture of appreciation.