We think it is important to make employees feel valued; it’s our business to help other organizations do just that. Each day we are witness to moments of great employee achievements – big and small - and see how recognition of those moments has a powerful impact.
Continuous recognition for job performance, career milestones or social pursuits is an essential part of doing business. So we thought we’d share the effects recognition (or lack of it) can have on your organization.
Your people are your most valuable asset. Without them, your business wouldn’t survive, right? If your employees are not motivated, chances are morale will suffer, with productivity and quality inevitably following suit. A staggering $450 billion in productivity is lost each year due to disengaged employees. It is a well-known fact that regular recognition is part of a smart management philosophy.
Think about how you felt the last time you were recognized. Did it make your day and perhaps put a spring in your step? Did you share that moment with others? The majority answer to those questions is yes, and that is what recognition is meant to do. When others hear about that moment, those employees are more apt to go out and recognize as well. The key to recognition is keeping it constant and a top priority – not a second thought.
Employee recognition is critical to driving employee engagement and improving performance, yet there are challenges. For some organizations, designing and implementing a successful program on their own is a challenge. For others, it is a lack of senior executive and manager buy-in, which impacts employees directly. In SHRM’s 2015 Job Satisfaction and Engagement Report, “Fifty-five percent of employees reported that management’s recognition of employee job performance was “very important” to their job satisfaction.”
Employee recognition benefits include:
• Motivation: When employees know their performance is valued and recognized, they will approach their jobs with greater enthusiasm and motivated to give their all.
• Connected Workforce: Over time recognition creates a more connected workforce where employees genuinely care for one another. Where employees reach out and offer congratulations to their peers when they hear of those achievements.
• Loyalty: Employees want to know they are important to the organization. When employees feel connected and empowered, they are more inclined to stay with an organization.
• Productivity: When employees excel and gain recognition for it, others will notice. That can drive their colleagues to raise their individual performance and reinforce the positive behaviors the organization wants to see.
Sure, as a business that sells recognition programs, we are advocates for recognition. However, we are also advocates for our employees. We know first hand the benefits of a recognition culture because we practice what we preach. Our company has created an environment where people are recognized for their work and engaged in the business. Employees thrive and are surrounded by peers who are empowered and engaged to give more every day.
Nothing is more powerful than recognizing employees for their positive actions. By recognizing employees for exceptional performance – whether it is going the extra mile or for helping without being asked, – you reinforce positive behaviors that link back to your company’s mission, vision, and values. 60% of best-in-class organizations stated that employee recognition is extremely valuable in driving individual performance.
Every organization, even those with the best recognition programs, can be “recognition challenged” at times. Step back and remember that recognizing excellent performance or acknowledging achievements is the best way to encourage more of the same in the future, and that changes everything.