Q1 means another year of celebrating employees on a regular basis, and especially on their respective Appreciation Days. These acts of recognition go deeper than you might think. A recent survey of job holders – including front and back of house catering workers – showed that 55% planned to change jobs, citing ‘lack of recognition’ as the main reason for the change. Ahead of Employee Appreciation Day (March 4), Society Insurance put together a list of employee recognition ideas.
Create a culture of recognition
When employees know their work is valued, they will want to perform at a higher level. The work they will do will not only be timely, but of high quality. When an organization fails to create a culture of appreciation, it can expect to experience more turnover, lost productivity, and strained work environments. It is especially important to design and implement an employee recognition reward system for globally distributed teams or remote workers as well. How do you do that?
Successful employee recognition involves employee participation and engagement, so when implementing new rewards programs and offers, be sure to have an idea of what they would like. Not all employees want a bottle of wine or a coupon, but rather a vacation or even just a shoutout for their accomplishments. Employee recognition is not a ready-made solution; it should be tailored to the benefits your employees value most. Personalization is key. Every individual in an organization is very different, so going out of your way to find something meaningful for a successful employee will inspire others to want to be successful as well.
Done right, a work culture that recognizes that employees can become self-reliant, with employees encouraging each other to bring out the best in each other and acknowledging each other’s efforts. In order to make this culture possible, there must be praise and respect throughout the workplace.
Setting up a rewards system
You can take advantage of digital employee recognition platforms. These platforms use point systems and integrations with communication platforms to make it easy for managers and colleagues to hand out kudos. Not only does this allow for an organization of the reward, but it creates a platform for those moments of recognition to be seen company-wide. A little friendly competition between employees will help companies achieve their goals.
Premium. Although it depends on finances, it should simply be considered the first reward that comes to mind. A quality bonus program can motivate employees to increase their performance levels at all levels. There are two types of bonuses: cash or non-cash. A cash bonus is simply an amount of money awarded to an employee for superior performance. A non-monetary bonus could be an experience that drives employees to improve. This could include items such as tickets to a baseball game or a paid trip to Hawaii.
Additional PTO. Be sure to set clear limits and regulations on rewards like this. Maybe only offer half days or a day of working from home if that suits your business/industry. Flexibility continues to be an extremely important commodity for attracting and retaining employees. Extra PTO is a very popular form of recognition rewards due to the fact that employees value it so much. Extra PTO shows employees that their hard work has resulted in time off while getting paid.
Goods and prices. Even small prices can go a long way to making your employees feel seen and wanted. Be sure to listen to employees and offer prices that are actually desired. Some examples include the boss’ parking spot, coupons, wine, or company merchandise.
Events. Some moments of recognition call for a celebration or a special event. These can be particularly appropriate for teams or the completion of successful projects and create an even greater platform and atmosphere for praise. At these events, you can take appreciation to a whole new level if the executives attend. When the people running the business take time to attend the event, it shows they care.
Employee recognition is a crucial, yet often overlooked aspect of overall employee satisfaction. Individuals should be recognized for their exceptional work and rewarded with gratitude whenever possible. Even with specific holidays, recognition should never wait for one day of the year. The smallest appreciation can go a long way, because making employee appreciation a top priority will improve overall employee health, boost morale, and increase efficiency. It won’t take long to see that a strong corporate culture is mutually beneficial for both the company and the employees.