Having satisfied employees will improve productivity and overall success. Employee recognition is still a major component of satisfaction and retention.
It’s important to recognize your employees for their hard work.
You want them to feel appreciated and motivated in their jobs. Employee recognition can help with this task. Yet, it’s not always easy to get the word out about what they’re doing right.
Here, we’ll talk about why employee recognition still matters. We’ll also go over how you can implement a program that works for your company.
Learn more about why employee recognition still matters in the workplace by reading on.
Employee Recognition Is Good Business
Successful business leaders know that the amount of gratitude they show employees correlates directly with profits. The numbers prove it again and again.
Still, you might wonder about the best way to infuse gratitude into your company. The answer is peer-to-peer recognition. With peer-to-peer recognition, your employees share a purpose through a steady stream of acknowledgment and gratitude.
Employee recognition is simply the act of publicly acknowledging among your staff who they are and what they do. An effective employee recognition program can help workers give each other a pat on the back and make the workplace feel more inclusive and human. Ultimately, employee recognition is a fancy word for providing positive feedback.
With employee recognition, you’ll want to focus on employees’ strengths. In other words, you want to hone in on what they’re doing right.
Employee recognition is an expression of gratitude and appreciation. However, it’s important to do it right across all levels of the organization.
Employee recognition strengthens teams. What’s more, it makes work meaningful. More importantly, it will make your company successful.
Of course, sometimes employee recognition involves cash bonuses—and this kind of employee acknowledgment has its place. However, words of sincere praise can prove even more meaningful.
Still, how do you manage to make sure that everyone receives their fair share of praise at a considerably large-sized company? No worries—we’ll get there in a moment.
Employee Recognition: What Works?
First, it’s important to understand the kind of recognition that works in today’s environment.
In the past, employee recognition was tactical. For instance, it may have involved randomly handing out gift cards. Alternatively, HR may have operated a “years of service” program that provided pins or watches after “X” years of service.
A modern, comprehensive employee recognition program is more meaningful. What’s more, forward-thinking companies leverage the right technology to make today’s effective employee recognition programs work.
With technology, you can amplify recognition and broadcast it across your company. In this way, everyone can see what your company values.
More importantly, everybody can participate in congratulating your more than worthy staff and reinforcing your company culture. This kind of participation is inspiring and one that other staff members will want to emulate.
With a culture-based employee recognition program, you can provide a framework for peer-to-peer recognition. This kind of program is excellent for your bottom line.
A peer-to-peer recognition program creates a stronger sense of belonging. It’s much more powerful than the occasional “e-thanks.”
It’s highly recommended to budget 1% or more of payroll toward employee recognition. Programs funded in this way typically produce phenomenal results.
A well-funded employee recognition program has a strong impact on engagement. More importantly, it drives positive business outcomes in a compelling and direct way.
Become an HR Superhero
Employee recognition drives excellence. In fact, it’s the foundation for creating a culture of excellence.
With an effective recognition program, you can foster the kind of employee appreciation that empowers your staff. Also, it will help to strengthen relationships. What’s more important, however, is that it will highlight a clear purpose that aligns with your company’s achievable goals.
With an efficient employee recognition program, you can drive your company toward key goals. For instance, you may want to increase employee retention.
Alternatively, you may want to create a stronger sense of company culture. It’s possible that you want your staff members to connect with your company, embrace your culture and share your company’s purpose.
Yet still, you may want to improve employee satisfaction. With employee recognition, you can also increase employee engagement.
With the right tool, you can do all these things while collecting quantifiable data.
Show Them You Really Care
Most of all, it’s important that your employee recognition program receives support from the C-suite down.
There’s a big difference when a recognition program is supported by leadership, management and supervisors. Employees genuinely feel that the company appreciates their contributions.
This kind of model is outstanding for several reasons. Usually, company leaders are in decision-making roles.
As a result, their recognition has monetary results. For instance, an executive who embraces a recognition program may feel compelled to also offer raises and promotions. Also, decision-makers are in the best position to help staff members with their career paths and growth plans.
Still, managing an effective employee recognition program takes a lot of work. Fortunately, you’re in the right place to learn about a platform that makes managing employee awards and recognition and other important HR-related tasks easy.
Automate Recognition—and Success
Now you know more about why employee recognition still matters in the workplace. All you need now is a leading HR solution for employee recognition, onboarding and lifecycle management.
HR Cloud is a powerful employee lifecycle management platform that helps you manage your employees—from onboarding to retirement. You can use our platform to create and send customized notifications for each stage of the employee lifecycle.
We also have an intuitive dashboard where you can see all your data in one place. Our goal is to make managing employees as easy as possible so you can focus on what matters most—your business.
Don’t wait. Start showing your employees today that you truly appreciate their hard work. Request your free demo today.