Recognition is not only good for your employees, it is good for your overall business success. Employee recognition can create a positive atmosphere for your company, keep employees happy, and strengthen employee work engagement.
There have been various studies that revealed the importance of gratitude and work engagement. One study reported by the Harvard School of Medicine and done by researchers at the Wharton School at the University of Pennsylvania found that university employees conducting a phone-call fundraising project to raise money for the institution made 50 percent more fundraising calls when they received appreciation and gratitude for their work efforts.
Psychologists have learned that gratitude can engage the brain in significant ways that can have positive effects in the workplace and your employee's work/life balance. Companies should find innovative ways to show appreciation and gratitude to their employees. Many companies have invested in a comprehensive employee recognition program.
These programs can be developed and maintained with little budgetary strains, and the rewards are many. You will find that productivity and motivation among your staffers reach unexpectedly high levels in the workplace. An effective employee recognition program can result in the following benefits for your company.
- Reduce Turnover Rate - Employees are more likely to stay with a company that shows appreciation for their hard work. They are willing to be more committed to your mission and goals for success.
- Enhance Company Culture - Recognition makes employees desire to be a part of an inspiring culture in your office. Employee recognition creates a healthy culture and nurtures an uplifting environment that invites others to be a part of the team.
- Increase Productivity on the Job - Recognition breeds motivation and productivity. Employees who are appreciated realize they are making a significant contribution to the company and they are motivated to continue to excel and perform well in their jobs.
Types of Employee Recognition Programs
There are several types of employee recognition programs that you can implement in your company. They can be small or large undertakings. It does not matter because the results will be all the same, which is good for you and your company. Some employee recognition programs you may consider might be:
- Verbal Praise and Recognition
- Recognition Newsletters
- Employee of the Month
- Employee Appreciation Day
- Employee Appreciation Awards
- Years of Service Recognition
- Quarterly or Annual Bonuses
Employee recognition should be a major part of your workplace. It plays a significant role in productivity, engagement, retention, and morale. Employees perform their jobs better when they receive praise for their contributions to the team. Today, employee recognition is a significant part of the culture in several successful companies throughout the globe, and employee recognition should be incorporated into the culture of your company too. It is the right thing to do for your employees.
Employee recognition should start at the top. CEOs, corporate executives, and managers should show appreciation to everyone on the team. But it should not stop at the executive suites. Co-workers and peers should show appreciation to each other. This is how you build and maintain an appreciative culture within your company. When everyone on the team feels appreciated and valued, everyone will succeed in the workplace.
