Most people love feeling valued for what we do, no matter where it is or when. Understanding this is pertinent, especially in the workplace. There are many ways to provide rewards and recognition. Some companies prefer offering their employees something concrete to make them feel valued.      

In contrast, other companies believe in providing more abstract culture-centric approaches to retain and show value to their employees. For either, the recognition provided in a well-thought-out way can make employees happy, lift their spirits, and indeed increase employee engagement.

Though a recognition program does not have to cost much and has been proven to be quite advantageous. 

Some of these advantages include: 

• Employee behavior aligns more with the company’s goals
• Greater job satisfaction
• Boosts team spirit
• Lowers attrition rates
• Reduces absenteeism,
• Increases productivity
• Builds greater employer brand

HR managers who plan recognition programs must consider the complexities involved in building a successful and well-organized program. It is essential to take into account the following things about the design and operation of a recognition program: 

1. Support the preferred outcomes: 

It is vital to practice a reward program that aims to create the desired organizational behaviors. According to a survey, more than 60% of the organizations with a successful employee recognition program have united it with their core business values.

2. Choose the Mode: 

Organizations must have appropriate processes to produce opportunities to shower appreciation. One of the more effective and simple ways to carry it out is to utilize a digital recognition platform to integrate standard appreciation modes such as peer to peer recognition, thank you cards, manager feedback, lunch with the boss, time off, etc.

3. Assess and Revisit: 

HR leaders must evaluate the employee reward program’s effectiveness periodically. They must consider the ROI in association with engagement rates, retention metrics, efficiency, etc.

While recognition is evolving as a preferred employee engagement tool among companies, the recognition must be timed correctly and seen as valuable. Around 81% of companies reward employees and recognize their capabilities quickly. Eventually, the programs gain popularity and produce higher levels of productivity.