It is the acknowledgment of a company’s staff for exemplary performance. The objective of employee recognition in the workplace is to strengthen particular behaviors, practices, or activities that result in better performance and positive business results.
Companies with the winning edge are the ones that have the best-trained and well-skilled staff in today’s competitive era. However, even the best employees cannot perform well when they are not motivated enough. This is why employee recognition in the workplace has to be an essential part of any company’s culture.
Why Is Employee Recognition That Important?
One of the biggest motivators for employees is to be held in high esteem by their peers. The best way to earn respect is by being acknowledged for being good at what they do.
It supercharges employee productivity.
Those employees who are engaged are less likely to leave their employer. When an organization decreases turnover, they save time and money it would have cost to find, hire, and train a new employee.
It gives employers the ability to reinforce behaviors they find valuable this will improve company culture. Recognition displays the behaviors that make the organization successful.
Award an employee with corporate awards for their performance this will not only boost morale but company pride with a custom-made employee gift for example crystal trophy, watch with performance note, heavyweight glass awards, and acrylic trophies, etc.
Recognizing employees’ work, their impact on the team and awarding them encourages a sense of purpose.
Employee morale is the superglue, which holds the company together. High morale tends to inspire greater productivity, creativity, and overall satisfaction.
The most effective ways to recognize employees
Many companies have employee recognition programs in place. In companies often, you will hear employees complain about how their work is not appreciated. Because it is not always what you do, but how you do it. You just should not recognize your employees, but you should do it in a more personal way.
1. Employee Appreciation Events/ Days
It’s always better to appreciate your best employees in front of their peers because it can boost their self-esteem. Employees will give their best shot to get recognized, significant to that you’re an appreciative employer. You can have an Employees of the Month/ Quarter/ Year’ for your team’s top performers calendar. Do not forget to celebrate birthdays, anniversaries, new additions to the family, and other noteworthy life-occasions.
2. Bonus/ Treats
Monetary extras will express them they are valued and make them feel their hard work is paying off and is greatly appreciated by the company. Give away company-branded gift tees, sweatshirts, or tokens to employees who are doing great. Have free lunch once a week with everyone in the office
3. Employee recognition wall
You can set-up a display board in the office and have everyone at the office fill it with sticky notes that comprise congratulatory messages to exemplary co-workers.
It may also encounter those who don’t find their names on the wall to keep on trying and to perform better until they see posted messages addressed to them.
Recognition programs should be all-inclusive. Everyone needs to be eligible for rewards. Excluding specific employees or groups can negatively affect performance.
Don’t wait for too long to recall somebody for their diligent work. Now is the best time to say ‘thanks,’ ‘congratulations,’ or ‘job well done.’
What are the Benefits of employee recognition?
- Make employees happier
Happy employees are more productive. Acknowledgment can also advance productivity, enhance loyalty, and promote collaboration. The workplace should have an environment where positive reinforcement is promoted and constructive feedback is embraced.
- Improve employee retention
Hiring your staff is just the beginning of the employee cycle. Next, is training, develop, motivate them to perform, and ultimately retain. So, how do you? Through incentive programs, you keep your company’s most valued asset.
Employee rewards and recognition is mostly possible approaches to retain your staff.
Employee recognition as a means of Incentive programs in the workplace is a great way to show appreciation for your employees, to keep them motivated, and make them stay.
- Cultivate a culture of self-improvement
Best ways for staff recognition is to offer the opportunity to learn and make themselves better at what they do. It will also be great to reward those who have taken the time to focus on self-improvement.
- Boost morale
Let the staff know their hard work is being recognized by the management can help motivate your company’s most valuable asset.
A sincere thank you and express regret for some misunderstanding can be subtle ways of showing appreciation and respect. Company culture must promote these simple ways of showing appreciation as staff recognition can have a big impact on staff morale and productivity.
Statistics About employee Recognition
- The reason most employees leave their job is they don’t feel appreciated.
- An employee with an effective recognition program has 31% lower voluntary turnover than an organization with an ineffective recognition program.
- 90% of the employee said their recognition program positively affects engagement.
- 68% of employees say it positively affects retention.
- An organization with a strategic recognition program in place exhibits 28.6% lower frustration levels than companies without recognition programs.
- 66% of HR manager says it helps them build a stronger employment brand.
- 86% of managers say it increases employee happiness.
- When asked what leaders can do more to improve engagement, 58% of respondent replied, “Give recognition”.
- An employee who knows they will receive recognition for acting on the brand promise will have a strong incentive to do so.
- 85% of employees say it “add humanity in the workplace”.
- Peer to peer recognition is 35% more likely to have a positive financial impact than managers are only.
There are countless ways to put employee recognition into action. However, it all begins with the company culture. An employee recognition program starts with having a company culture that advocates appreciation for best performers. It can be the substance for staff engagement, continuous employee development, and retention strategy for the future.