Why Should You Incorporate Employee Recognition into your Workplace?
Most people love feeling valued for the 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 have a preference for offering their employees something concrete to make them feel valued while 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 certainly increase employee engagement.
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 take into account 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:
- Support the preferred outcomes: It is vital to bring into practice a reward program which aims at creating the desired organizational behaviors. According to a survey, more than 60% of the organizations that have a successful employee recognition program in place have united it with their core business values.
- Choose the Mode: Organizations must have appropriate processes in order 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 which allows them to integrate common appreciation modes such as peer to peer recognition, thank you cards, manager feedback, lunch with the boss, time off, etc.
- Assess and Revisit: It is essential that HR leaders evaluate the effectiveness of the employee reward program 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, it’s important that the recognition must be timed correctly and seen as valuable by the employees. It has been found that around 81% of the companies which have an employee reward program in place where employees are recognized quickly and correctly, the programs gain popularity and produce higher levels of productivity.