Creating a culture where employees are recognized for doing great work is essential to building a winning workforce. In fact, employee recognition not only encourages employees to perform at a high level, but it also supports their ongoing engagement.
There are many ways to say “thank you” to your employees, and some cost you nothing. However, they can go a long way in helping you reach your goals for organizational growth and performance. Just consider these findings that demonstrate the game-changing power of employee recognition:
● A Bonusly and SurveyMonkey survey revealed that 63 percent of employees who feel recognized are less likely to look for a new job.
● Having a rewards and recognition program can boost employee performance by 11 percent, according to Gartner.
● Deloitte research found that employee productivity, performance, and engagement are 14 percent higher in organizations with recognition programs than in organizations without them.
10 Ways to Recognize Your Employees
To encourage your employees to perform to their potential, consider incorporating the following forms of employee recognition into your talent management strategy:
1. A note of thanks
Saying thank you in writing is a simple and lasting method of showing appreciation. For example, sending a well-crafted email lets employees know their accomplishments haven’t gone unnoticed. And when you copy another manager or the CEO on the email, it can be even more meaningful.
2. Perks and incentives
Rewarding employees with special gifts is a great way to recognize accomplishments such as meeting sales goals, improving customer service, or launching a new product or service. Examples may include gift cards, movie tickets, special parking, or dinner at a local restaurant.
3. Team meeting shout-outs
Public recognition goes a long way in helping employees feel valued, and it also sends the message to others that good work will be acknowledged. Shout-outs can be short and sweet, or they can be a detailed account of hard work by an individual or the team.
4. Celebration of accomplishments on your company intranet
Using your company intranet to celebrate team wins and employee accomplishments takes shout-outs to the next level. By recognizing employees on your intranet, you publicize their good work for the entire company to see.
5. Gifts mailed to employees’ homes
Not all forms of employee recognition have to occur in the workplace. To celebrate employee anniversaries or offer a token of appreciation during the year-end holidays, consider sending a gift to employees’ homes, such as a snack box, wine, or gift card.
6. Team social events
Sometimes there is such a thing as a free lunch. Providing employees with occasional opportunities to connect informally over lunch, an ice cream social, or after-work drinks is a great way to show appreciation and build camaraderie.
7. The gift of time
When employees are busy working to meet performance goals, you can recognize their hard work by providing well-timed breaks. For example, you can offer an extra day off to employees who reach a specific goal, and you can also add benefits such as summer hours, early Fridays, and office closures around specific holidays.
8. Social media announcement
Recognizing employees on social media is a great way to broadly publicize team wins and employee milestones. Whether you announce new hires and employee promotions on LinkedIn or give a team shout-out on Twitter, social media recognition also allows employees to gain recognition from members of their professional network.
9. Encourage peer-to-peer recognition
Managers aren’t the only ones that can provide regular employee recognition. You can also create a process that enables employees to recognize each other, formally or informally. Creating opportunities for employees to be recognized by peers can strengthen teams and boost communication among employees.
10. Fair and competitive compensation
Though it may seem like a no-brainer, you should use compensation effectively to recognize and reward employee performance. By offering competitive base salaries and performance incentives such as bonuses and company equity, you can send the message to all employees that your organization offers fair pay in exchange for great work.
Leverage Employee Recognition for Maximum Results
Building consistently high workforce performance is that much easier when you take actions to keep employees motivated and engaged. Employee recognition helps you show employees they are appreciated and valued, so they are encouraged to do their best work every day. Contact us for a conversation to learn more about how MarvelHR can help you maximize talent and build a high-performing workplace.