What is Employee Recognition?
The last couple of years have seen employees have to adapt quickly to new ways of working either at home, in the office, and even in hybrid mode…all to keep things running as smoothly as possible. It’s been tough, to say the least, and it’s caused many to rethink their entire career path. According to a recent Gartner HR research, one-quarter of Australian employees are currently looking for new opportunities, with the major reasons being a better work-life balance, manager quality, and recognition for their hard work.
Employee recognition is one of the key drivers of employee engagement. According to Quantum Workplace, employees who feel recognised by their leaders, supervisors, and wider team are more likely to find meaning in their work, be loyal to the business, and are 2.7x times more productive. According to Global Culture Report, employees who feel appreciated and valued have an 84 percent lower chance of experiencing burnout at work.
Cultivating Employee Recognition that isn't Incentive Based
Public Recognition
If your team member has gone above and beyond, instead of simply writing an email or making a call, consider shouting them out in a companywide email, or on the team chat, or even better, on LinkedIn. Public recognition helps to boost employees’ feelings of accomplishment and appreciation. Employee recognition also helps strengthen their professional public image, which can boost their confidence and result in greater productivity.
Make Gratitude a Habit
According to the BambooHR survey, more than half of employees prefer to receive feedback during one-on-one interaction with their managers, while less than one-fifth prefer yearly performance reviews. To be effective in promoting employee engagement and boosting morale, try to express your gratitude directly. Just keep in mind if you wait until the yearly performance review, you could risk losing your hardworking employees.
Give More
According to Gallup report, businesses that double the amount of weekly acknowledgment and employee recognition, staff are more likely to display a “24 percent improvement in work quality, 27 percent reduction in absenteeism, and a 10 percent reduction in overall shrinkage rate. Focus on rewarding employees for things that reflect your company’s values, such as compassion, innovation, or going above and beyond for a client rather than purely based on KPIs and sales.
Encourage Peer-to-Peer Recognition
When creating a culture of appreciation, be sure to encourage peer-to-peer employee recognition. Positive feedback from peers can be powerful. Peers collaborate and work closely with one another and, as a result, can better validate compliments and reward hardworking colleagues for their day-to-day challenges. In many companies, employees value peer-to-peer feedback as unique and inclusive. Off-site meals or celebrations can be used to reward an entire team. Potlucks and picnics are excellent ways to foster team spirit and acknowledge outstanding performance.
When a business prioritises employee recognition in the workplace, it makes staff happier, more loyal, and willing to contribute to the company’s success. While every workplace is different, implementing a regular employee recognition program that is relevant to your business model will result in many benefits, including increased morale, productivity, a culture of self-improvement, higher retention rates, and the creation of a safe working environment.
