Do your employees feel like theyโre getting recognized for the work theyโre doing? How frequently does your company reward staff who go above and beyond? Do you have a platform where employees can commend their coworkers for a job well done? If not, your leadership team should not be the only ones doing the recognition. A holistic employee recognition program can significantly propel your efforts in retaining top personnel to success.
This article will assist you in finding the answers to the common questions pertaining to employee recognition and will also highlight its importance in retaining top talent. Learn more by reading on!
What is employee recognition?
Employee recognition, sometimes referred to as social recognition, is the practice of publicly praising your staff members for their contributions. By recognizing one another, employees improve the inclusiveness and humanization of the workplace. One of the key elements influencing workplace engagement, productivity, and employee retention is employee recognition.
You will be a lot closer to realizing employees’ full potential if you routinely give them genuine, well-deserved praise. The three main goals of genuine recognition can be described as below:
- Displaying Achievement of Goals
Sometimes all it takes to express gratitude to the staff members is a simple “thank you.” People desire to know that their efforts and accomplishments are being valued. When someone accomplishes a goal, whether it be personal or professional, they experience a rush of accomplishment. This positive feeling is only heightened when other people notice and acknowledge the accomplishment.
- Encouraging Efforts
Recognition isn’t just about performance. When the employees go above and beyond, recognizing their hard work motivates them to perform even better in the future. This also enables them to form strong emotional ties to their jobs, thereby enhancing their performance and outputs moving forward.
- Reinforcing Values
Employees demonstrate what is appreciated by managers, executives, and the company as a whole by their behaviors and acts that are more frequently acknowledged. Employees are more likely to repeat a behavior that is in line with corporate values after receiving praise for it and serving as an example to others.
Why is employee recognition important?
A healthy company culture can result from recognition, which has a significant positive impact, particularly on the employees.
Employeesโ motivation and passion for work get boosted when employers publicly thank them for a job well done. A stronger, healthier workplace is developed by showcasing the accomplishments and positive traits of employees. Additional benefits of employee recognition at the workplace are listed below.
- Recognized employees are happy employees
As the phrase goes, not everyone brings their work home with them. However, the majority of us do carry around some of the emotions we experience at work or in client meetings with us. In other words, a happy workplace translates into happier and more tranquil personal life.
Employees feel good about what they do and nurture that feeling within them when you let them know you see and value their efforts and take out time to illustrate how much of a measurable impact they are having on the companyโs growth and progression.
Besides, employees that are content with their jobs are typically 12% more productive than their unhappy colleagues. Happy employees and a productive environment create a win-win situation in the workplace.
- Workers trust leaders who appreciate them
It shouldnโt be surprising that a lot of trust can be fostered by simply saying “thank you” to your staff. Employees feel a stronger connection to the leadership when they realize their efforts are making a difference and are being noticed by those in positions of power.
In fact, a report by SHRM suggests that nearly 90% of workers started trusting their supervisors more after receiving praise or appreciation from them within a monthโs time. Only 48% of the employees who did not receive praise said they trusted their superiors.
- When employees feel recognized, they stick around
A new hire may cost as much as $3,500 to recruit and as much as $1,200 and 32 hours of continued training per year, according to a report by the Training magazine. A new hire might end up costing $4,129 in total and up to 42 days of missed or subpar output. You’re probably right if it sounds like an unnecessary complication.
The vast majority of workers surveyed by the U.S. Bureau of Labor and Statistics said they felt either a lack of respect or a lack of autonomy when asked why they chose to change careers. You can buck these trends and retain your talent for a lot longer with a little bit of attention.
Creating a culture of recognition and appreciation
How to foster a culture of gratitude and acknowledgment is likely to be the first big query or thought that comes to mind. There won’t be any sustained results if your efforts are not consistent and you just occasionally acknowledge the work of your employees.
It will be a one-time thing, so performance, retention, or motivation won’t be affected. Consequently, it is crucial to establish a culture of acknowledgment, and the following are some methods to do so. You may foster a culture of appreciation at your company in a number of ways, including:
- Recognize early and regularly
Firstly, your employee recognition programs must be ongoing and in real-time. You must make sure that you acknowledge and value the work or performance of your employees as soon as it is due and not months afterward, when the occasion for appreciation has faded from memory. As a result, you must make sure that employees are recognized timely.
- Be specific
When you are clear and precise, a culture of praise and recognition flourishes. It is insufficient to merely compliment your employees on a job well done. Give them admiration and recognition for something particular and plainly stated.
You need to be precise when praising efforts and performance, whether it’s for completing a deal or enhancing client experience. They will be better able to strive toward the goals for which they are being acknowledged by knowing what they are being recognized for.
Being specific will also show others how to receive praise in the greatest way, inspiring others to follow suit.
- Celebrate effort and intention
Recognizing all parts of an employee’s work and not just the outcomes is necessary if you want to genuinely foster a culture of respect and recognition. This includes acknowledging the intentions and efforts made, even if the intended outcomes were not realized. Encouragement is the key to building a culture, and when you show others that their efforts and intentions are valued, they will reciprocate.
- Recognize everyday
When researching the finest methods for rewarding employees, you must realize that limiting praise to large victories alone is insufficient. To keep your staff motivated at all times, you must acknowledge the little victories they achieve on a daily basis.
The goal is to recognize tiny victories, such as crossing off every item on a to-do list. All outstanding leaders are aware that showing appreciation for employees’ efforts each day will inspire them to do better each day and give their best since they will always be appreciated.
- Recognize even when times are slow
Don’t reserve praise for just the pleasant and joyful times. It’s essential to recognize initiatives even in lean times if you want your employee recognition program to succeed. For instance, if your team has been working 12-hour days to prepare for a contract that falls through, you still need to recognize the effort that was expended.
Despite taking a step backward in terms of organizational success, the goal here isn’t to completely ignore what happened and celebrate. To overcome failure anxiety and self-doubt, inspiring the team to do better when the next opportunity arises, is crucial.
- Celebrate publicly
The sort of rewards and recognition that you implement as a team at work are the most successful. One approach to achieve this is to publicly recognize your staff by posting significant team accomplishments on professional networking platforms or your company’s official page. Another suggestion is to host a celebration for workplace anniversaries. All of these steps contribute to creating a healthy work atmosphere and give employees a sense that their contributions are valued.
How can employers show employee recognition?
It’s not difficult to let your team know you appreciate all of their efforts. There are numerous methods to express gratitude to your staff, and mixing it up is a terrific idea.
But, there are some rules for giving meaningful recognition. The RISE formula is one of the finest methods used for employee rewards. RISE stands for Regular, Immediate, Specific, and Encouraging.
Here are some suggestions for employee appreciation that you may use in your management style to express gratitude to your staff for a job well done:
1. Ask your staff how they would like to be acknowledged.
Different kinds of recognition exist. The best way to express gratitude to someone relies on what their ideals are.
While some people enjoy receiving attention from the public, others avoid it. To make your team feel valued and appreciated, always ask them how they wish to be recognized.
2. Establish a program for peer recognition.
An appreciation-based culture can be fostered through peer recognition. For this, an employee recognition platform can motivate staff to express gratitude to their coworkers.
3. Plan a team-building day
Any dream is made possible by teamwork. With a fun off-site activity, you can thank your team for a job well done and celebrate your team.
Creating bonds outside of the workplace might help your team get stronger and the company more successful.
4. Share handwritten notes.
Some workers may appreciate a written copy of that compliment. For instance, 36% of women, in a survey, suggested that a written thank you note is preferable to a verbal one.
5. Offer impromptu goodies
Donuts in the break room are never refused. To thank employees, surprise them with some goodies or offer to buy lunch. Branded merchandise items are also much valued by the employees.
6. Use a system of incentives.
It’s normal practice to honor employees with incentives like gift cards. However, a systematic incentive program might be of great value if you’re unsure of what the employees wants.
How to align your DEI initiatives with recognition for better employee retention?
Organizations have recently witnessed a lot of attention being shifted toward workplace justice and diversity, which also takes into account recognition. Here are some strategies to guarantee that all of your recognition initiatives encourage inclusivity:
1. Use a variety of criteria
Don’t set a strict or exclusive standard for recognition. Be willing to acknowledge various initiatives and accomplishments. To make sure that you are rewarding people based on what they contribute rather than on the basis of a common strategy, each team should have its own criteria.
2. Emphasize on inclusive rewards
Your criteria must be varied, but so must your rewards and methods of recognition. Make sure that none of the team members are left out of your recognition messages. Your awards should also be open to everyone and not just one particular group, in a similar vein.
3. Leverage technology for performance review
You must make sure that your review is impartial and fair if you want to encourage inclusivity. Here, performance management systems may be used to obtain a real-time picture of performance, allowing you to do away with recency bias or the horns/halo effect and recognize and reward holistic performance-based on ongoing evaluation and feedback.
Conclusion
While the pay may be one of the major deciding factors for an employee to join a company, it hardly ever continues to be the main element in keeping them there. If firms want to become “Best Employers” for ” Best Employees,” it is essential for HR managers to collaborate with business leaders to develop creative ways to regularly recognize their employees and create a culture where recognition is important.