An employee recognition program is a fantastic way to increase employee engagement, reduce employee turnover, and has the added benefit of driving more excellent customer retention and satisfaction levels. 

Recognition is an essential psychological need for both the personal and professional parts of people’s lives. Sometimes it’s even more critical for recognition to happen at the workplace since we typically spend so many hours of the day with one another at work every day of the week. 

As a premier employee engagement and management platform, we have worked with companies of all sizes and helped them supercharge employee outcomes. 

Employee recognition strategies, especially ones that push for peer-to-peer recognition and collaboration, have many positive results for companies who implement them. So, why have a peer-to-peer recognition program? 

Let’s look at some ways to empower your team, improve team performance, boost your company’s sales overall, and create happy employees to work for you and likely to become proud brand ambassadors. 

Advantages Of Peer To Peer Recognition Program: 

1) Encourages Collaboration

Peer-to-peer recognition builds trust and appreciation for employees and their teammates, resulting in more proactive collaboration. 

2) Promotes A Feeling of Team

As collaboration increases, so do the development of a real sense of team. The purpose of recognition grows from the individual to the team, and more times than not, it quickly spreads across all of the company. 

3) Increases Employee Satisfaction

As people are recognized, they begin to take more pride in their work and look forward to coming to work every day. A simple “thank you”, “kudos for the job”, “well done” go a long way to boost happiness and performance. 

If given a simple tool that can do so, nearly 50% of employees surveyed said they would provide ongoing peer recognition. Imagine the ROI that it would create! 

4) Boosts Productivity and Quality

When employees receive recognization, they push themselves to develop the habit of giving more kudos. It continues the recognition cycle and encourages a stronger drive towards excellent work environment. 

5) Increases Communication Channels

Having a ‘kudos’ system across the company encourages inter-departmental communication, strategy, and teamwork.

The openness and transparency it creates breaks down department silo walls and reduces frustration levels that arise from perceived lack of communication. 

Additionally, when employees receive thanks for being helpful, they quickly learn to make this a habit both internally and externally, making peer recognition and collaboration effective to increase motivation and productivity. 

6) Improves Overall Health of the Company

And finally, peer-to-peer recognition and collaboration improve the overall health of the company.

Various scientific studies have shown clear links between emotional happiness, health, and individuals’ welfare, where the happier employees are, the healthier they become physically. 

7) Improves Overall Engagement, Morale, and Reduce Employee Churn  

Engaged employees reduce churn rate and improve morale. It creates a more positive company culture since peer recognition affects the individual, the teams, and the company. 

While peer-to-peer recognition system and collaboration are compelling, it is vital that managers join in to recognize and be recognized. Since adoption into the program runs faster, it truly boosts company morale from the top till down. 

Businesses that recognize and reward employees for collaborating and helping each other will create the right environment of teamwork. Every employee wants to feel that their contributions are valued and make a real difference at their job. 

As these feelings grow, they will be more likely to work together and foster an atmosphere of collaboration. 

Recognition also helps breakdown collaboration barriers, such as competition, and instead fosters an environment where employees feel valued. 

They feel safe that the whole team is working together to achieve the company’s goals. 

Who is NextBee and how we help companies?

As stated earlier, NextBee is the premier employee engagement company, and with nearly a decade of experience, we have worked with companies of all sizes, helping them supercharge employee outcomes. 

If you need more ways to empower your teams, we are your first-step solution provider. Our platform helps companies to:

• Improves their team performance with rewards schemes and gamification elements
• Boosts overall company’s sales by introducing different programs based on employee segment
• It creates a company culture where employees are happy to work and likely to become proud brand ambassadors

Contact NextBee to take a face-to-face demo of the solution and increase the chances of growing your business.