The Power of an Effective and Efficient Employee Recognition Program
Friday, August 30, 2019, 6:00 AM | Leave Comment
Employees love recognition for their work. When employees feel they are comfortable and good at their job, they are more productive and provide better customer service.
Employee recognition programs are the best way to maximize employee satisfaction. An effective recognition program will give employees something to work towards.
This will boost their productivity and engagement to levels that will surprise you.
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Traditional Forms of Motivation
To make sure you can attract and keep the cream of the crop, differentiate your employee recognition program from the norm. Common methods of compensating employees can include pay rises, employee perks and bonuses.
Innovative methods of compensation can also be attractive to job-seekers in the market. Innovating to provide competitive bonuses will boost employee satisfaction and retention. Consider staff competitions. Bolster your employee’s competitive spirits by getting them to engage in friendly competition, and reward hard work when needed.
You could even consider sending out surveys to gauge what sort of recognition your employees want. Why not tap into some of your employee’s brains to see what would get them to keep motivated in their jobs?
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More than Employee Benefits
When implementing your new employee recognition program, do not replace previous employee benefits. Instead, add this program on top of pre-existing benefits. Adding more benefits for your employees may seem like another added cost at first, but your employees will recognize your attention to their work.
Ensure that your recognition program recognizes hard work as well as success. Show your employees that you reward their hard work and effort, as well as positive results. Motivating your employees encourages them to work hard, which increases their productivity in the workplace. A motivated employee wants to be where they are. You’ll instantly recognize employee communication improving right alongside with work ethic.
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Efficiency
There is a simple formula for making your employee recognition program efficient. The increased productivity of your employees has to outweigh the cost of adding the recognition program. Employee engagement enhances productivity in the workplace, with the added benefit of lowering stress levels among employees. You’ll also notice fewer sick days and better teamwork. Once you’ve done the math, you’ll be certain to see the framework distributing its benefits.
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Employee Turnover
One of the many reasons you would want to engage an employee recognition is to reduce turnover. You can set yourself apart from other businesses by addressing the costs of turnover and accounting for the deceptive hidden costs of hiring new staff.
The best way to combat this is evident. Get your staff to stay. Show them how to go about their job with enthusiasm. An effort made on their behalf goes a very long way, and the addition of a recognition program is a small price to pay for reducing turnover.
A touch of human contact will also help to reduce your employee turnover and should be an essential part of your employee recognition program. Checking in with your employees regularly and promptly replying to correspondence are the tickets to success. Consider asking them questions about furthering their capabilities and see if they want to learn new tasks.
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There is no shortage of reasons to add an employee recognition program to your business. Its power is such that you will see productivity and engagement skyrocket. Ensure that the benefits outweigh the costs for your program, and you’ve found a recipe for instant success.
Throw us a like at Facebook.com/doable.financeAuthor BIO:
Cloe Matheson resides in the beautiful South Island city of Dunedin, New Zealand. She believes that recognition and communication with employees are integral to a company’s success. Check out Cloe’s personal blog to see more of her published work.
