Employee recognition is what the manager does to show appreciation for the exemplary work the employees have done. It has innumerable benefits to both the employees and the organization. It is the role of the top management to create a culture of employee recognition in the company. Employees should not be getting rewards only once every blue moon. They need to be encouraged regularly through rewards and incentives to feel valued at the workplace. When one receives acknowledgment after doing a certain task, this motivates him or her to achieve more.
Employee appreciation can take many forms as outlined below.
- Monetary bonuses- Almost everyone loves money and they will feel good when they receive extra money apart from their monthly salary. The monetary bonuses will show the employees that they are valued and the management appreciates their efforts.
- Recognition cards for employees– The card entails notes like “thank you for the accomplishments”. When employees receive cards containing such notes, they feel more motivated and valued.
- Gift the employees with company-branded tee shirts, pens, or books.
- Celebrate the employee’s birthdays.
- Take them for lunch.
Some of the benefits of employee recognition include:
1. Improves productivity
Initiating the employee recognition program in the organization can help in improving productivity. Through the program, the personnel will get to know the values which will guide them while working. They will also be able to understand what is considered exceeding the expectations. Knowing these key elements will enable them to improve their efficiency and work quality. This is because they will work to achieve the acknowledgment through the recognition program.
2. Improves employee retention
Employee retention is the capability of the company to retain its employees. After hiring the employees, you need to train, develop and motivate your employees to perform and eventually keep them. Employee recognition and reward are one of the means of retaining your staff. Most employees leave the organization when they feel their handwork is not recognized. Since employee turnover is costly, retention is one of the approaches to cutting down the cost.
3. Establishes teamwork
Through the recognition program, the sense of togetherness within the employees is enhanced. Employees who receive the awards will be more willing to help out their other co-workers whenever they need assistance regarding a certain task. The consultation and engagement among the employees enable the organization to achieve the set targets within the desired time frame. If there is any recognition, the employees will be less willing to assist their coworkers.
4. Better customer experience
Personnel is often the face of the organization since the management cannot be everywhere. Most clients get their first impression of your business from the contact with your personnel. Having a recognition award culture ensures that the employees are more willing to handle the customers perfectly. Whenever employees feel valued, they are in a better position to offer great customer service. They will also be willing to prioritize the need of the key stakeholder, the client. Good customer service helps in enhancing the reputation of the company. This in turn helps the organization gain a competitive edge against the competitors.
In conclusion, there are many benefits of implementing an employee recognition program. The above article enlightens some of the benefits the organization can gain from the program. The company can decide on any form of reward approach to use.