When it comes to employees, there is no greater way to show your appreciation than some good old employee recognition. It’s an important part of company culture all year and is likely to always be. Here are six reasons why:
1. Increased Happiness
To cut a long story short, recognised employees are happy employees. For most people, work doesn’t leave their minds as soon as they leave the office but lingers somewhere in their minds until they return the next day.
So, when you take the time to show your employees that they’re seen and appreciated, they take those happy feelings home with them. Research shows that happy employees are on average 12 percent more productive than their less-happy colleagues, too!
2. Leaders Who Appreciate, Will Receive it Back
As I’m sure you know, trust in the workplace is critical. You’d be surprised how much thanking your employees fosters trust. When employees know their efforts are noticed by those higher up the food chain, they feel a deeper connection to leadership.
3. High Staff Retention Rates
When asked why they decided to switch to a different career, the vast majority of employees represented in a recent report showed that they felt either a lack of respect or a lack of autonomy. By showing some recognition, you can have a positive impact on these trends and keep your staff around for much longer.
Additionally, creating chances for employee recognition can help to manage stress in the workplace by showing a job well done. This type of praise can lead to more engaged employees. Employees that feel underappreciated will reflect poorly on the business as a whole, something that no company wants.
4. Improved Working Environment
Linking to the above point, a common reason people leave their jobs is that they feel underappreciated. Showing employees that they’re valued draws in new employees as well as keeping the current ones.
Employees that feel appreciated can vastly improve the workplace environment, boosting morale and motivating employees to work harder.
5. Increased Profitability
When you think of employee rewards, it’s unlikely you think immediately of profitability, but you should! When rewarding substantial work, employees work more efficiently. In short, celebrating employee performance encourages employee performance.
In addition, it’s often said that the key to happy customers is happy employees, so as a result, employee recognition, often achieved through employee reward schemes, can improve customer satisfaction.
6. Improved Connections Within the Team
Connections can be improved in the workplace through employee recognition, not just by managers and leaders, but by everybody. Recognition among peers can benefit the business because when employee performance is publicly recognised, it will encourage other employers to take note of the positive characteristics in each other.
These celebrations have the potential to inspire other team members. As the saying goes, a team is not a team unless it works together, so remember that peer recognition drives teamwork in the same way that recognition from higher up the ladder does.
As you can see, employee recognition is incredibly important – and always will be. With these ideas in mind, you can improve employee satisfaction, ultimately boosting productivity and driving meaningful growth.