Why Employee Recognition is Good for Employees
Posted December 14th, 2015
As an employer, it is tempting to think that you recognize your employees simply by paying them a salary, benefits, and perks regularly. But management research has consistently shown that employers who go a step further and single out individuals/teams for special recognition get more out of those employees over the long run. If you’re hesitant to take on a new HR initiative, just consider the widely acknowledged benefits of employee recognition:
Consistently Positive ROI
The best thing about employee recognition programs is that they typically cost little more than time. You may offer exemplary employees a reward like a gift card, a special ceremony, or even a pay raise, but these costs tend to be nominal and well earned. That’s because employees who are deserving of recognition have usually done something that helps the company consistently generate more revenue, or cut costs quarter after quarter. The employee values your show of gratitude, and your company gets stronger overall.
Opportunity for Professional Development
Even more valuable than the reward is the opportunity for employees to broaden their skill set. Employee recognition programs are often targeted to specific initiatives/objectives. The company will identify pain points and then ask all employees, or some targeted employees, to take on the challenge of solving the problem. That breaks them out of their normal work routine, encourages them to form collaborative partnerships with unfamiliar co-workers, and utilize skills that are not normally part of their job description. In the process of earning recognition, the employee builds him or herself into a more well-rounded professional.
Accelerated Career Advancement
Recognition rewards are temporary, but the process of being recognized can have a powerful impact on an employee’s career. As part of the recognition process, employees often get to work with or at least interact with senior management. And since the opportunity arises in the context of outstanding performance and innovating thinking, the employee tends to make a positive, lasting impression. When it comes time to recruit new managers or assemble important new teams, the employees who have been singled out in the past often get extra consideration. That is great for them professionally, and it helps you to reliably make promotion decisions. It’s a true win-win situation.
Finally, we have put together a list of tips to help you get the most from your employee recognition efforts:
- Establish clear goals and set the tone for the program with senior leadership.
- Create well-defined criteria for being recognized.
- Use IT to track, monitor, and analyze your recognition programs.
- Direct your recognition efforts into every corner of your enterprise.
- Offer recognition rewards that employees truly value.
To learn more about motivating and engaging your workforce, contact Bayside Solutions.
