Low morale and lack of employee engagement can lead to reduced productivity and lost profits. Employee recognition is a good investment since it helps improve productivity, morale, customer service and retention.
One survey reported that 82% of employed Americans don’t feel that their supervisors recognize them enough for their contributions…40% of employed Americans say they’d put more energy into their work if they were recognized more often.
“Recognition isn’t just about implementing employee programs to check
them off a list; it’s about bringing out the best in people
and improving your company’s bottom line.”
David Novak, Harvard Business Review
According to the American Psychological Association’s Center for Organizational Excellence, employee recognition is one way to help create a healthy and productive workplace environment.
“By acknowledging employee efforts and making them feel valued and appreciated, organizations can increase employee satisfaction, morale, and self-esteem. Additionally, the organization itself may benefit from greater employee engagement and productivity, lower turnover and the ability to attract and retain top quality employees.
Ways of recognizing employee contributions include:
• Fair monetary compensation
• Competitive benefits packages
• Acknowledgement of contributions and milestones
• Performance-based bonuses and pay increases
• Employee awards
• Recognition ceremonies”
Recognition does not have to be expensive. A certificate or handwritten note of appreciation can be more meaningful than a standard gift from a promotional company.
An article by Kimberley Abel in Training Today discusses the importance of training managers on different ways to show appreciation to employee under their supervision. Managers are more comfortable in providing formal recognition when they are clear about the available company resources and guidelines.
Effective recognition programs are key to business success. Do you have a recognition plan in place for your employees?