Companies that invest in employee recognition are among the most innovative, profitable and successful organizations in the world. They realize their greatest asset and the key to their success is their people, and that every individual needs to feel appreciated for working hard and going the extra mile.
Key Components of Your Recognition Program
According to a recent survey, the top reasons employees stay loyal to their companies include flexible schedules; seeing the outcome of their work; feeling like their opinion matters; receiving rewards for their work; and getting noticed by their peers. All of these factors can be a part of your successful recognition program. The basics include:
- Frequency: Give recognition often enough to have an impact, but not so often that rewards lose their value.
- Time: Don’t wait weeks before offering appreciation for a job well done, even if you do something as simple as send a thank-you email.
- Clarity and specificity: Make sure you’re clear and specific about how you communicate recognition. Let your employees know why you appreciate their work and exactly how their actions contribute to your company’s overall goals and mission.
- Peer-to-peer interaction: Often, receiving recognition from peers is just as, if not more, important than receiving it from company leaders. In fact, in one study, peer recognition was found to be twice as meaningful.
- Attention to detail: It’s all about taking note of what works best for each individual team member and then weaving recognition in as an integral part of your company culture.
Find Out What Really Matters
Survey your workforce and find out how they would like to be recognized. For some, the best reward may be tickets to a sporting event or family-friendly show or theme park. For others, it could be the chance to attend a professional seminar, participate in a training program, or leave work early on a Friday afternoon.
- If employees can choose their rewards, they’ll be more likely to work toward the performance levels necessary to achieve them. More than 70 percent of employees say that customized benefits would bolster their loyalty to their employers, and 94 percent believe personalization is critical to successful marketing. So, why shouldn’t it be a key factor in recognition as well?
The tools you use to give your employees the shout-outs they need may include social media, gamification, and traditional, time-tested methods like bulletin boards, Employee of the Month programs, meals or other recognition events, and acknowledgement during company meetings.
The talent management pros at PrideStaff Fresno can help you build a recognition program that will boost morale, engagement, loyalty and retention. Contact us today so we can start discussing the possibilities.