When it comes to evaluating employers, potential employees are looking beyond compensation to company culture and recognition at work.
Read: How To Reward Employees Without Breaking The Bank
What used to be considered intangibles are now some of the most valuable recruiting tools your company can use to build a productive and engaged workforce.
Here are a couple of ways to create a successful recognition at work program:
What Behaviors To Recognize
If you're in the process of developing a recognition program, make sure that it aligns with company goals.
Behaviors like being a team player, accomplishing individual or group goals, and displaying a company’s core values merit some form of recognition.
Employees shouldn’t be given recognition at work simply for doing their job, but instead it should be reserved for exceptional behavior that goes above and beyond the call of duty.
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The Right Way To Execute Recognition
Depending on your budget, recognition could range from a public thank you from management to a multi-day trip to a tropical destination. Ultimately, it doesn’t matter how grand the gesture is, so long as it’s genuine and delivered in a way that works for the employee.
Some employees prefer to receive a free lunch from the boss, while others would prefer management buy gift cards to their favorite restaurant or Big Box store.
However you choose to recognize your employees at work, make certain that it’s in a way that meshes with their personality and interests.
Recognition Fosters Employee Retention
According to Globoforce, companies with established employee recognition programs are twice as likely to retain employees.
If you don’t already have a work recognition program in place, that should be made a top priority. It's an opportunity to boost day-to-day productivity by building a workforce that is engaged and satisfied in their work.
A BambooHR study revealed that 94 percent of employees who receive daily positive recognition think highly of their company, and they're less likely to look for a new job elsewhere.
Investing in a work recognition program will likely cost less than what you would have to spend on recruiting and hiring in a high-turnover environment.
Employees are your most valuable asset. Retaining talented workers can be made easier through a strong recognition at work plan. By having this program in place, you'll likely save money that otherwise would've been spent to hire new employees.
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