According to recent data, 44% of employees would quit their jobs due to not getting enough recognition for their work. Gone is the time when working for the sake of working is acceptable.
People are no longer willing to work for someone that doesn’t value them. Just because a job pays doesn’t mean it’s worth it, and because of this, creating an employee recognition program has never been more important.
Keep reading to learn how you can implement the best program to show your employees how much you care.
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Factors to Consider
Before implementing an employee recognition program, you should know why it’s important and how it can benefit you and your company.
An employee recognition program is a deliberate effort to recognize employees and reward them in the workplace. Such a program will help your employees feel valued, increasing employee happiness in the workplace.
Employee engagement will increase as employees are being noticed for their hard work. In turn, this will make them want to be more dedicated and work harder.
You’ll have a lower turnover rate, as employees will likely stick with a company that appreciates them.
Along with this, highly skilled workers are always looking for a company that will treat them right. You will attract the talent you’re looking for if you create a program that demonstrates your appreciation for them.
Structured Programs
Structured programs are the most common type of employee recognition program. Chances are, you’ve been a part of one before.
These are more formal programs that are systemized and follow specific rules and guidelines.
A manager may set a specific goal for an employee to hit, and once they do, they’ll recognize them. They may receive a monetary bonus, a shout-out, or some other prize, like here.
These programs are also seen as employee-of-the-month concepts, which reward the employee who worked the hardest. They won’t be rewarded for hitting a specific goal or improving their performance a certain amount. Instead, your employees would be recognized for doing their best.
Another newer program that can significantly improve company morale is peer-to-peer shout-outs. Allow employees to recognize other employees.
Reward those that get recognized, and more employees will be motivated to work harder, so they too will get recognized by their coworkers.
Unstructured Programs
Unstructured programs are more spontaneous rewards that are given out at any given time.
Structured programs can sometimes come across as routine and less genuine, while unstructured rewards will happen when something happens to deserve them.
For example, if one employee is going above and beyond week after week, their boss may decide to gift them with a vacation package as a thank you. This wasn’t planned, but it will make this employee feel seen and motivate others to keep working hard.
This kind of program can help pump everyone up when the work is more complicated. It can keep the workplace culture interesting, as no one ever quite knows what to expect.
You may suddenly decide to challenge everyone to a contest with a cash prize, which means everyone is constantly kept on their toes.
Create a Rewarding Employee Recognition Program
Implementing an employee recognition program is easy to do, and it will significantly benefit your business. Choose between a structured or unstructured program, or do a little bit of both.
Decide if your employees will need to meet specific criteria to get rewarded or if simply doing their best and working hard is enough. Stay consistent and get creative.
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