We all appreciate and have a sense of the benefits of employee recognition. When employees feel valued, they are more engaged, motivated and likely to go the extra mile for their employer. They will also be more connected to their work and their team.
A recent study by Deloitte showed that organizations with recognition programs had 31% less turnover than those without. A poll conducted by Quantum Workforce and Bamboo HR found that 52.5% of employees want more recognition from their immediate manager.
Considering these stats, it’s safe to say that employee recognition can impact an organization’s bottom line and should be an integral part of their retention strategy. Implementing a formal or informal recognition program doesn’t have to be an elaborate event or a budget buster.
Below are a few ideas that are cost effective and can be implemented immediately:
Assign Work That Matters
Give your employees an opportunity to work on special projects beyond their regular responsibilities. Doing this will allow them to grow, showcase strengths and will also demonstrate your confidence in their abilities. Also, show how their roles fit into the company’s overall mission and what opportunities are available for advancement.
Offer a Personal Thank-You
Being acknowledged for a job well done and a simple and heartfelt “thank you” from a manager goes a long way. It can be delivered verbally or in the form of a handwritten note. Whichever method chosen, make sure that the praise is specific and highlights the worker’s contributions. If appropriate, go a step further and invite the CEO or someone from top management to deliver the recognition. According to Danna Hewick, President of Human Resources for USSI, employees love to know that people at the top of the organization appreciate what they do.
Listen to Employees’ Concerns
Letting employees know that you care about them is more important than any company swag or a free lunch. This is especially important as we navigate through the COVID-19 pandemic. Many employees have had to adjust to remote working, impromptu quarantines and school/daycare closures due to the pandemic. Flexibility and working with employees’ requests on a modified work schedule is a huge way to show appreciation and demonstrates that you hear their concerns.
Develop a Peer Recognition Program
Recognition is awesome when coming from a manager, but it is equally appreciated when it comes from peers. Peer-to-peer recognition lets employees give each other on-the-spot accolades either on a community bulletin board, internal newsletter or internal website. Implementing a peer recognition program is not expensive and builds social connections in the workplace, which helps people feel more fulfilled at work.
Build a Culture of Success
Make the culture of your company one of connection, communication and care. Show a sincere interest in employees by investing in their success. Consider sponsoring a high potential employee to attend a conference or special training. Get bang for your buck by having them present their learnings to your team. Everyone benefits from the knowledge shared and this further develops the employee.
Include Employees in the Decision-Making Process
By involving your team members in the decision-making process, you show that you trust and value their opinion, which, in turn, builds employee engagement. Recognize your employees, by asking for their opinions on bigger decisions. Studies show that when an individual takes part in a decision, they are more committed to its success and are more likely to work hard in support of that decision. Allowing them to make certain decisions frees you up to work on other projects, which is an added bonus!!
Works Cited
Roepe, Lisa Rabasca. “Meaningful recognition doesn’t have to be expensive” SHRM Spring 2021 HR Magazine, pp76-81
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