Working in an organization is challenging these days. With employee turnover being at higher rates, the great resignation still in full swing, supply chain problems plaguing the world, and myriad other issues, it might be tough to find ways to increase productivity and improve employee morale. Luckily, recognition programs can help. Recognition programs have been proven to improve employee retention and engagement, but they can go well beyond that simple idea. The right recognition program creates a culture of gratitude and motivates employees to work more productively, ultimately making it easier for businesses to grow and succeed. And they can work for your company right now. Today, we’re looking at five ways recognition programs can make your business better. Check it out below.
Help Employees Achieve Their Goals
Goals. It’s a word your employees undoubtedly hear day in and day out for the majority of their week. Sure, there’s no doubt that goals are important; they inform the operation, help employees grow their skills, and contribute to the result of any project. Goals are about more than motivation and accomplishment. They give employees a strong sense of purpose and set the tone for their entire tenure with a company. Along with performance management, social recognition programs can help employees achieve their goals. Employees typically want to feel recognized for their work. If that happens, they might be more motivated to reach future goals and set attainable ones down the line. Recognition programs can help your team members feel valued, purposeful, and like they’re part of something larger than themselves.
Build Trust
A key aspect of recognition programs in the workplace is how well they build trust, respect, and camaraderie among teams. Consider the recognition or acknowledgment of somebody’s work, regardless of how small it might seem compared to the bigger picture, can have a massive impact on that individual. Recognition instantly builds relationships. Relationships build collaboration. Collaboration leads to trust. Regardless of department, location, or seniority, a team that trusts each other can have a much more meaningful impact on the organization than one that doesn’t. Recognition and trust are great motivators for any team and can make the difference between one that’s going to be successful and one that might fall apart in the future.
Create An Atmosphere of Gratitude
Most organizations might be focused more on the bottom line than their teams. This is a massive mistake. Creating a wonderful atmosphere of gratitude, meaning, and recognition can be quite beneficial for teams. Recognition programs are a great way to thank employees for their hard work. They’re like a comprehensive method of improving a business all around. When someone does something that makes your business better, give them some recognition, give it frequently, and make it specific. Showing appreciation whenever possible and doing it appropriately, enhanced with rewards, can also lead to more gratitude among your staff. A grateful staff will feel appreciated and be more likely to be productive. Using a meaningful and sincere recognition program at your organization can make a big difference in employee engagement. This also has the side effects of increasing morale, making the office a better place to work, and giving employees something to look forward to when they come to work that day.
Reduce Employee Turnover
As you’re undoubtedly aware, employee turnover and retention are big issues right now at organizations across the globe. One of the major reasons that people leave organizations is because of bad management and a lack of recognition. If people feel like they’re not going anywhere or growing in the organization, they might feel like it’s time to leave for something else. This can come from poor management, a lack of wage growth, lateral moves, no room for improvement, and other factors. Recognition can help defray this slightly and reduce turnover across the board. The best recognition programs are designed to provide employees with the motivation and impetus they need to keep working hard for a company. When businesses show their employees they value their work—whether through a formal program or just informal praise—it not only makes them happier but also keeps them from seeking employment elsewhere. A dissatisfied employee is likely to leave an organization faster than an engaged one, which isn’t a desirable outcome for anyone (especially your organization).
Gain Valuable Data
One unexpected bonus of using recognition programs is the ability to collect and analyze data on how people are using them. Data can give you great insights into how the program is being used, who’s doing quite a bit of work, where recognition is important for your organization and much more. To grow, develop, and inform future decisions, you need to analyze this data effectively. If you want to find out if your recognition program is working, for instance, you should pull data about its various functions and check it out. This can help you revamp the program or implement additional aspects of it to help your team work together in harmony. With recognition programs, you’re collecting information on who’s participating, what they’re receiving awards for, who they’re reporting to (and why), and so on. Using this valuable data to improve employee engagement and retention rates will ultimately make your business better and assist you with accomplishing your own business goals fast.
Review 5 Ways Recognition Programs Make Your Business Better.