Employee recognition surveys show 59% of employees desire a culture of recognition. It seems employees prefer to receive high praise more than a higher salary. Especially when the money comes without any recognition.
Do you want to promote employee engagement and build a dedicated workforce? Then it’s important you acknowledge a job well done.
This article defines employee recognition programs and explains its benefits toward improving workplace morale.
What Is Employee Recognition?
Employee recognition refers to the ways employers show appreciation for employees’ work. It’s a practice that gives hard workers a chance to receive positive feedback. And in some instances, peers can show recognition for their colleagues too.
You want your company’s values reinforced across the organization. As representatives of your business, some employees embody those values. And recognizing their commitment is a nice way of saying, “Thank you!”
Benefits of Employee Recognition
Employee pay generally reflects fair compensation for someone who meets performance expectations. But what about your best employee that goes above and beyond? Here are some benefits derived from rewarding their accomplishments:
Boosted Morale
Sometimes employees need a little inspiration. They may be giving their all without peer or management appreciation shown to them. Positive affirmation helps employees feel better about themselves and their work.
As employees grow a sense of purpose, they look forward to advancing their careers. And they’re more likely to do so within the company.
Employee Engagement
You want employees to feel more than satisfied with their job. You want them enthusiastically involved on a daily basis. But that won’t happen if they don’t feel appreciated.
Acknowledging the work of an employee or team may be all the incentive they need.
Improved Productivity
Boosted morale and employee engagement can have a rippling effect. So not only will you witness improved productivity from your recognized employees. But others seeking similar praise may begin to do more.
Higher Retention Rates
Replacing employees can get expensive. There are costs associated with the search, hiring, onboarding, and training processes. And sometimes it’s difficult to match the skills of a talented team member.
When one employee leaves the company their work shifts to another. This can cause work overload, reduced productivity, and even further turnover. Ensuring employee retention prevents interruptions and possible loss of business.
Enhanced Culture
It’s encouraging to employees to have their work recognized. This can come in the form of verbal or written praise. Or with opportunities for training and career growth.
Employees need to know they have the support of their managers. This could result in them working harder to gain advancement.
Types of Employee Recognition Programs
It’s not always necessary for employees to receive cash for their contributions. Employee recognition programs include:
- Employee of the Month Award
- Gift cards to the company store for employees
- Career advancement opportunities
- Year-end bonuses
- Written or verbal praise award
All employees should have the opportunity to recognize each other. This includes peers, subordinates, and managers.
Employee Recognition: Show Me the Praise
Sometimes you have to give a little to get a little. And showing recognition for your employees’ work could result in a little more every day.
Let your employees know you appreciate them and all they do. Reap the benefits of employee recognition programs.
Explore other helpful advice in our business section and create a better work-life balance.
