Nearly 75% of companies have an employee recognition program, according to a 2012 study conducted by Bersin by Deloitte. The study found that organizations with an effective recognition program have 31% less voluntary turnover than those without one and are 12 times more likely to have strong business outcomes. Additionally, employees produce 14% higher results when their individual or team efforts are recognized.
Clearly, employee recognition works, so if your company doesn’t already have a robust program in place, it’s time to implement one.
5 Ways to Show Employee Recognition
Use these five tips to show your team how much their efforts are appreciated:
Start an Employee of the Month Program
Choose one special member of your team to single out as employee of the month. Put their picture on the wall, add their name to a plaque and give them a gift card to honor their outstanding efforts.
Allow Team Members to Recognize Each Other
Create a peer-to-peer recognition program, where employees can formally recognize the work of their colleagues. This promotes a strong sense of team and gives credit where it is deserved. It’s a great feeling to know your team really appreciates you.
Offer Great Perks
Your staff works hard every day to make the company a success, so regularly reward them with great perks like free lunches, fun off-site outings and early dismissals. Constantly letting your employees know how much you value them boosts productivity and job satisfaction levels.
Ask Their Opinions
You hired a team of talented professionals with really great ideas, so acknowledge this by asking for their input on key company initiatives. People are much more engaged when they feel like their opinions count — and you’ll definitely get some very helpful feedback.
Simply Say ‘Thank You’
Stopping by an employee’s desk to commend their great work on a project or sending an email to thank them for working late may seem like a simple gesture, but it means a lot. People want to work for managers who treat them like people, instead of just another name on the roster.
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