Employee recognition is fast becoming a key strategic aspect to businesses with an aim to flourish and prosper. Keeping employees engaged and appreciated is an understanding employers now identify as a crucial component of developing a positive impact both within the organization and for overall profits. Employee engagement and recognition leads to more satisfied and delighted employees, who in turn contribute robustly towards their individual roles. A collective performance of inspired individuals accelerates growth and expedites ROI. Results have shown that the return on equity for companies with high scores on employee recognition is over three times that of ones with low scores.
Companies that can boast of high employee recognition incorporate a structure into their approach. They start by creating their company’s employee value propositions. Leaders and management conclusively implement recognition on a daily basis. The way they might do it is,
- Ask the employees themselves and develop measurable value propositions by conducting surveys with focus groups centered around what kind of recognition gratifies individuals
- Gain a general consensus bringing in teams from different functions together and brainstorming
- Best practices in the particular industry can be emulated or studied for adapted propositions
What makes an employee feel appreciated, acknowledged and applauded?
Be Just Round The Corner..
Common courtesies can make the BIG difference. Right from managers greeting their team members cordially to spending a few minutes talking informally, to keeping their team nurtured emotionally as far as work is concerned, are some strategies team leads apply in recognition. Striking the right chord inspires dedication and sometimes it is vital to know the pulse of your team member for channelizing their potential appropriately. Acknowledging failure and guiding a team member to set themselves up for success, or simply giving the assurance that one learns along the journey are small nods of acceptance.
Strike The Right Note
There is an intraorganizational aspect to recognition as well, which involves,
- Inspiring all employees to be cognizant of their peers and acknowledge their achievements
- Going beyond the walls and celebrating efforts and wins via social media
- Create a cross organizational employee connect by inculcating an environment of discussions and conversations on a formal basis. Tapping into a general wisdom is an eye opener.
- Shining a spotlight on consistent achievers and moulding them into leaders
- Talking about powerful stories and narratives that motivate employees
Hit The Bull’s Eye
It’s very important to dwell upon what is effective. The question arises as to, would all employees be comfortable with the sort of recognition they are being rewarded with? Sometimes companies follow a certain recognition program with the same allotment for all employees. For a successful recognition program, it is important to allow the employee recognition of their choice. For e.g., some people do not enjoy monetary benefits as much as more responsibility at work. Gift coupons, parties, holidays, etc fulfill outward expectations, but what really delights an employee is positive feedback and a human need to feel their reward is perfectly suited for them individualistically. So recognition must be authentic, contextual, momentous, befitting and value appropriate to absolutely hook into that sense of gratification the employee needs for his/her hard work.
The PeopleWorks Merit
PeopleWorks Human Capital Management solution captures the Employee Recognition factor under Rewards and Recognition. At any given time, team managers can access data pertaining to their team members’ achievements with a single click. This feature helps RO’s and team managers seamlessly blend data on recognition with Performance Management reviews. And there are similar features like Reports-at-a-Click, Surveys and Performance Management in this unique cloud-based solution that will not only help you make decisions quicker, but also transform your company’s HR into an enabler for innovation. PeopleWorks’ fully configurable and scalable cloud-based model can help you integrate your existing HR platform and automate it while improving efficiency and making employees feel connected, belonged and rewarded for long term association.
As this quote by Timothy Findley suggests, “The spaces between the perceiver and the thing perceived can be closed with a shout of recognition.”
Close the gaps in your recognition programs with the PeopleWorks advantage. Contact us for a demo today.