Employee recognition is the appreciation for an employee’s input. It provides a number of business, social, and wellness advantages to teams.
Research has shown our need to be appreciated. This has spurred employee recognition programmes around the world.
Employee Recognition Programmes have been shown to:
Increase motivation: 40% of people would put more effort into work if they were recognised more often.
Enhance productivity: An increase in morale improves productivity and work quality, affecting the bottom line.
Help retain top performers: Companies scoring highest in recognition have 31% lower turnover rates.
Drive engagement: Recognition increases employee engagement by up to 60%.
Great recognition should be:
Good recognition is the difference between “Thanks, you did a good job on that report” and “Thanks for the report, I appreciated the clear visuals you used. The graph on page 9 was great. Excellent work!”
The following recommendations will help you make the most of appreciation:
1. Define clear objectives
– What behaviour will be rewarded?
– How will it be rewarded?
– How often will it be rewarded?
– Who will give the praise?
2. Use varied rewards
Research by Deloitte, identified two types of effective recognition:
– Money rewards.
3. Give employees choice
Talk to your employees to understand the rewards they’re interested in. A gift card may be preferred over company-branded materials.
If you’re rewarding employees with gift cards, make sure they will enjoy services from that business.
4. Ensure effective implementation
Communication must be clear. Your team should know the programme’s purpose, how to use it, and when it will take effect.
5. Measure your recognition programme’s effectiveness
Using a measurement system like employee net promoter score can measure engagement and morale.
You can use surveys, interviews or feedback sessions to analyse changes in your organisation.
Nearly every company can benefit from implementing or improving their existing recognition practices. If you’d like to discuss our solution to rewards and recognition using the OptiMe platform please get in touch: email@example.com