Because people are being paid to do a job doesn’t mean they are going to give it their best if they don’t feel appreciated. Businesses with employee recognition programs tend to be, if not more profitable, at least easier to manage because happy employees are going to work harder with less delay so everything runs smoother. Companies who give no thought to employee morale may still be able to keep their doors open, but it’s usually more of a struggle than it needs to be. If all a business needs to do for increased productivity, and less management stress, is sponsor an employee recognition program, why not? General announcements for all don’t really carry the weight of personal praise to anyone who has done a good job and knows that management appreciates them. Verbal praise is an excellent motivator, but something visible and solid such as employee awards has an appeal that verbalization can’t compete with.
Enjoy Increased Performance Levels
When people know their job performance is being measured against another’s, and that a recognition award is at stake, they can’t help but work that much harder for the same money because that award almost means more than a paycheck. Yes, money is important, but for many, the recognition of a job well-done means just as much. In short, as long as the program covers the entire company, and not just a few departments, it won’t be long until a positive difference begins to show in your bank deposits. From the lowest level to upper management, words cost nothing but a minute of your time, and when words are matched with a visual “thank you,” whatever you spend for an inexpensive award will come back to your business many times over. There is a difference between rewards and recognition which shouldn’t be confused. Rewards may offer an incentive to work harder, but recognition focuses on the value of an individual and your company benefits the most.
Initiating, then managing a recognition program is much easier than it sounds. Talk to your managers and plan what rewards you will offer for increased effort and simply let your workers know that individual effort will be recognized with an award. Give a general announcement of your new program so that all are aware that from the janitor to CEO, hard work will not go unnoticed. Deciding what you want your program to mean to your employees, then getting the program up and running is going to be nothing compared to the rewards the company itself receives. Such as…
- Employee turnover rate drops dramatically resulting in less money spent on training new hires.
- Dissatisfied workers show new enthusiasm for their jobs.
- Workforce teams are more effective.
- Your business gains a reputation for being a good place to work, and then you get more experienced workers filling out employment applications.
The Basics Of Employee Recognition and Crowdfunding Aren’t That Different
Crowdfunding rewards are often given to reach a goal. If you have no idea where to start with a recognition program, try modeling it after the same proven method used for crowdfunding. Every business has a goal, and thoughtful use of a rewards program will not only help meet a goal, but it should also help exceed them. As in a crowdfunding campaign where rewards that count, such as free product or services, are given to specific businesses to court their donations, what makes a recognition program work is singling out individual employees. You don’t have to be a large company to make the idea work for your business. Recognition could be something as inexpensive as a small trophy with their name and job title, their picture on the break room wall, or maybe even an extra vacation day. The point is, though a verbal thank you is often appreciated, visual recognition tends to have a greater impact.
There may be a National Employee Appreciation Day, but the fact is employees should be shown appreciation more frequently if you have set goals for your business and intend to meet them. Research proves satisfied employees are approximately 12 percent more efficient than their unhappy counterparts in another company. Employee recognition is your chance to get ahead of the competition and stay there because your business will be staffed with workers willing to go that extra mile for you, while the “other guy” is constantly training new employees because the experienced ones don’t want to stick around.