Employee recognition is appreciated by employees as it confirms that their work is valued. A simple thank you can go a long way, but it's even more effective when employees are rewarded for their achievements.
1. Productivity & employee satisfaction
This is an obvious benefit of employee recognition. Employees want to be praised for their work, it is a form of validation. This makes them work harder for more rewards and work proactively to acheive this.
2.Employee happiness and well-being
Recogniiton can improve employees happiness increasing motivation to keep up the hard work. This means the working environment becomes a more caring and happier place to be.
3. Retention
If employees are frequently thanked, praised, appreciated and rewarded they are more likely to feel valued, thus leading them to stay at the company. As most people would rather work in a better working environment than earn more money, although incentives/rewards do help.
4. Loyalty
Employees are more likely to be loyal to a company where the managers are invested in the wellbeing and progress of employees. This benefits employee retention and productivity.
5. Team culture
The office/workplace is where employees spend the majority of their lives. Making the environment as supportive, friendly, caring and appreciative as possible can be a major benefit for your employees.
Examples of reward & recognition in the workplace;
– peer-to-peer; empower staff by giving them the chance to congratulate and celebrate each others efforts. This can create a good team environment and connects different departments of the business together.
– Long service rewards- Rewards and recongition for long services of certain employees. This enhances the possibility of staff loyalty and productivity in the workplace.
Also this shows to employees who have been loyal to company for a number of years that their services are valued and they are a stong asset to the company.
-Instant recognition- as soon as a sale has been made, target has been reached or campaign has been completed, praise your staff. It’s the little things that can help each individual employee to feel as though they are part of a team or valued within the company, regardless of their role. Whatever the achievement may be, it is worth a thank you.
-Monthly appraisals- this can show a corporate way of recieving or handing out feedback between employees and managers.
-Celebratory nights out- if the business has a whole has gained a new client, reached end of quarter targets or anything that may be important to your business, organise a company night out. This gives everyone an opportunity to feel part of the businesses success.
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