Benefits of Employee Recognition Program
Lack of appreciation is one of the principal reasons for employees quitting from their jobs. A simple gesture of thank you might seem a small thing to do, but it goes a long way in fostering engagement and belonging to the place of work. Would you want to continue working at a place where no one appreciates your energy and efforts? Or someplace where they could be cherishing you, but don’t show when required? That’s no for everyone.
Enumerated below are a few benefits of employee recognition and acknowledgement.
Happier employees
Happier employees tend to work better with more dedication and focus. When you show appreciation and gratitude towards your employees, you instil in them a feeling of attachment and belonging to their place of work, consequently leading to happiness.
Increased productivity
Employee acknowledgement makes them want to work more as it makes them feel central to the organization. Employee engagement, productivity, and profitability are interrelated and interconnected, as it’s well known that recognition leads to high engagement, consequently leading to higher productivity, making them want to work more.
Job satisfaction
Recognizing employees’ efforts makes them feel that their work is valuable to the organization. It renders a feeling of accountability to the organization as they know that the work they do makes a difference, consequently leading to job satisfaction.
Lowers employee attrition rate
Contrary to popular belief, that it is money that drives people to quit from their jobs; it’s in fact, lack of recognition and acknowledgement. According to Maslow’s Hierarchy of Needs, social recognition is one of the vital rungs of the ladder, making it one of the essential needs for everyone. A culture of appreciation and acknowledgement helps lower down employee attrition rate significantly.
Loyalty to the work and workplace
If you have an engaged workforce, they would be willing to work harder to further the growth of the company, as it is an emotional attachment that drives them to move forward. Acknowledging the efforts of the workforce instils in them a feeling of loyalty and accountability to the company enabling them to work with their full potential.
Team bonding and collaboration
Encouraging peer-to-peer recommendations for rewards is a promising step in fostering a positive team culture. Owing to their regular interactions, it’s easy for teams to recognize each other’s strengths, and vouch for it. It is an empowering step for the workforce as they learn to see the positive attributes of their co-workers, leading to efficient work culture, as human resources are one of the most valuable assets to any organization.
A positive work culture
A culture of peer-to-peer recognition, rewards, recognition, and acknowledgement for both short term and long term contributions will help you engage, inspire, and motivate your team to work hard to the best of their abilities. It helps boost productivity, employee engagement, and job satisfaction resulting in positive work culture and enabling faster growth.
Related Article: Transforming Employee Rewards and Recognition
Truworth Wellness strives to make work a pleasant experience for all, as it is happy and satisfied employees, which translates into a thriving business.