Make Every Day Employee Appreciation Day with Recognition
Recognition matters. People want to feel valued and respected, and not just on Employee Appreciation Day. It should also come as no surprise that research proves employee recognition efforts make a difference. Employees who are regularly rewarded or recognized for a job well done are more engaged and more productive. In fact, recognition increases employee engagement, productivity, and performance by 14%, and 92% of workers are more likely to repeat actions when they receive praise for doing them.
Interestingly, most organizations understand the importance of rewarding their employees but don’t do it frequently enough, and often don’t have a formal process to guide their leaders on when, where, or how to do it well. In today’s job market, where the numbers are clearly in the candidate’s favor and top talent has more employment choices than ever, this is not just bad people management, it's bad for business.
5 Effective Ways to Reward Employees
Recognizing employees and celebrating their hard work should be an integral part of your company culture and be supported by leaders, especially given the bottom-line implications. Employees are a crucial asset, and when they feel empowered, valued, and respected, they stick around. However, research shows that 87% of recognition programs only reward based on tenure with the organization. This means a lot of great work goes unrecognized. More importantly, companies noted to have a “recognition-rich culture” have voluntary turnover rates that are 31% lower than other companies.
Don’t drive your people out the door. Try these easy and effective ways to let your employees know they are appreciated.
- Make Recognition – Both Personal and Professional – a Part of Company Culture. Employee appreciation should start at the top and continue all the way down to individuals. Encourage leaders to start companywide meetings by recognizing a department or an individual employee for outstanding work, or by congratulating them on a personal achievement such as the completion of a graduate or doctorate program in their field. Make note of employee birthdays, anniversaries, and other momentous occasions. But recognition does not have to be solely performance-based; it can be a general appreciation of people and the milestones that matter most to them. When people feel good about the organization, they are more engaged and are willing to work harder.
- Share Recognition Publicly. While a personal gift or note is a valuable gesture, it’s also uplifting to share appreciation for your employees on your social media channels, your website, or in a customer- or public-facing newsletter, for example. Not only does it show your employees that you care enough to recognize them, it also shows customers, partners, and other external audiences that your people are a priority. This can help improve your organization’s brand reputation as well as your efforts to retain and recruit top talent.
- Make It Fun for the Whole Organization. One way to achieve this is by allowing peers to recognize one another. At Perceptyx, we have a companywide #recognition Slack channel where we praise our teammates for a job well done. These statements of recognition are also directly linked to one of our core company values, helping to reinforce the behaviors we strive for as an organization. Additionally, at the end of the year, one person who was recognized for each of our six company values is chosen to receive an award, including the addition of their name on a physical trophy. It then becomes a fun record of what we have achieved as a team, year after year.
- Give Recognition a Larger Purpose. Reward your employees by donating to their favorite cause, or by giving them time off to volunteer. This can be in recognition of a specific action or something that you do for all employees. Additionally, you can do an organization-wide day of giving and shut down the office to partake in a community project or volunteer opportunity. Not only does this show your support for the causes your employees care about, but it also demonstrates to external audiences and stakeholders that you are a caring organization while stressing the importance of giving back.
- Just Say “Thank You!” A handwritten note or personal phone call can make a huge impact. It can certainly be accompanied by a small token of your appreciation, but above all, make it sincere. If you see someone go above and beyond or notice a job well done, say something! It’s that simple. People want to feel that the work they do matters, and a meaningful note, phone call, or email does just that.
Make Recognition Work for Your Organization
If you want to understand the impact of your employee recognition and reward program, or how your current program could be improved to combat the growing challenges of employee burnout and attrition, Perceptyx can help. Please reach out to schedule a meeting or to learn more about our employee listening approach.