These days very few things are as important as employee recognition and appreciation when it comes to ensuring employee satisfaction and productivity. In this competitive market, companies that have a workforce with high morale and motivation will do far better than others.
It doesn’t work well for a company nowadays if the employees are only well-skilled and best-trained. The employees also need to feel appreciated and recognized by the company so that they have a better drive and motivation to do a great job for the company.
When the employees of a company or an organization aren’t motivated enough, they can’t perform well. They feel down and look for new opportunities so that they can leave the job for a better one.
When a company provides its employees with the recognition and appreciation they deserve for their hard work, the employees feel noticed and valued by the company. The moral of the employees gets boosted, which has a positive impact on the entire workplace.
That positive impact drives employees to keep doing better in their jobs, which in turn helps the company to bring in better results. A motivated workforce can do wonders for a company by helping it with massive growth.
What Is Employee Appreciation and Recognition?
Employee appreciation and recognition is the acknowledgment an employee of a company gets for their efforts and hard work. When an employee puts in a lot of effort and hard work into doing something for the company, or does a really good job in finishing a project, or does well overall, they deserve to be recognized for their good work. Also, when an employee manages to uphold company values in their works, they also should be recognized for their efforts.
Employee recognition is important for reinforcing certain behaviors, activities, and practices in the employees that will result in better performance. In turn, it will bring positive results for the business. When an employee gets recognized by the higher-ups of the company, they feel inspired to keep up with their good job for the company. This is really important for a company to achieve growth and success.
An employee can be appreciated and recognized in many ways. Even a simple “thank you” note can do a lot. Also, providing the employees with recognition among their peers, providing them with monetary or non-monetary benefits, providing them with intriguing gifts, special awards, special treats, or numerous other things can be done for them as a part of the employee appreciation and recognition program.
Why Employee Appreciation Recognition Programs are Important?
Employee appreciation and recognition programs can create a great and engaging workforce When an employee gets recognition and is held in high esteem by the colleagues and higher-ups of the company, they feel thoroughly valued, noticed, and motivated. In a workplace, the best way to earn respect from others is to get appreciated and recognized for being good at the job.
Most importantly, providing employees with appreciation and rewards is not a work of charity that the companies are forced to do. Instead, employee appreciation and recognition programs are something that brings great results and success for a company.
A company faces massive growth when morale is high in the workplace, and employees are highly engaged with it. Also, when the employees are highly motivated to do their best in their job and are determined to work hard so that it can help the company, as well as their career.
If a company fails to make its employees feel appreciated and valued, they won’t simply deliver as well. Based on many studies, providing appreciation and recognition has numerous positive effects.
Shawn Anchor carried out positive psychology research that says the supreme and sole advantage of the modern economy is an engaging and happy workforce. That research also says employee happiness helps sales to increase by 37%, task accuracy to increase by 19%, and overall productivity to increase by 31%.
Businesses these days are trying their best to retain their top employees. To retain the top performers and enhance growth and employee productivity, businesses are resorting to various strategies.
As said earlier, nothing helps more than employee appreciation and recognition programs with these things. According to data, the third most common reason for employees leaving their jobs is “lack of recognition”. Also, according to 26% of employees, the highest barrier to engagement is being undervalued and underappreciated.
Here are the key reasons why employee appreciation and recognition are important-
Employee Retention
Employee retention is really important for a business, as it helps them retain its top performers. When the top performers of a workplace keep working in it, the workplace automatically keeps doing better, and in turn, the company faces massive success and growth.
A proper employee appreciation and recognition program can help with employee retention, as it helps employees feel good about their job and workplace. Recognized employees tend to stay at the same work more than the ones that don’t get appreciated and recognized.
Boost Employee Morale
Employee appreciation and recognition programs help to boost the morale of the employees. A workplace with high morale helps the employees to achieve a lot for the company. When employees get recognized for their accomplishments and hard work, they tend to do a lot better so that achievement can keep coming. In turn, the business keeps facing good results in a competitive industry.
Establish A Self-Improvement Culture
Employee appreciation and recognition programs can work as foundations for establishing a culture of self-improvement. One of the best ways of providing employee appreciation and recognition is to provide them with opportunities to learn more, grow, and get better at what they do. Also, they are provided with better resources to do a better job. All these can help the employees to get improved, which can also result in amazing growth and success for the company.
The benefits and importance of employee appreciation and recognition programs are manifold. A company should run an employee appreciation and recognition program not for the sake of the employees only, but also for the company. These programs help a company achieve the desired results by keeping the employees happy and satisfied. A happy and motivated employee with high morale can achieve wonders for a company.