Employee Recognition Programs: What’s the Secret?
Employee recognition programs are popular throughout the world. They account for $46 billion in sales every year. Companies spend nearly 2% of their payroll on average on employee recognition. What is the best way to spend this portion of your payroll?
Studies have found that nearly 90% of recognition programs focus on tenure. This means for working a certain number of years, workers are rewarded. Studies also show that this has almost no impact on motivation in the workplace. So why would waste your time and money? Use unique programs to see results.
Results and behaviors are one of the best ways to recognize employees for their efforts. By supporting quality work, you are encouraging more of the same in the future.
Let peers recognize each other. Peer to peer recognition has a better impact than that from leaders. This makes the receiver feel as though the praise is more genuine.
Recognition should be a simple thing and it should be done on a regular basis. Continually rewarding and recognizing employees leads to happy and more efficient workers.
Make sure your program is in line with the goals of the company. By encouraging your employees to work for the betterment of the company, you are encouraging growth and success.
Employee recognition programs make employees feel valuable. They make them feel as though their time at work is worthwhile and matters to the success of the team.
Recognition increases levels of the hormone oxytocin in the human body. Studies have proven that higher levels of oxytocin lead to higher levels of performance in the workplace.
Want your employees to work efficiently? Want to ensure your recognition programs are valuable? Using a few simple tips, you can implement high quality employee recognition programs.