Employee appreciation and recognition for a job well done – contributions big and small – can be instrumental in boosting engagement and employee retention.
Harvard University’s Faculty of Arts and Sciences shares, “Recognition serves as a tool for reinforcing the behaviors that drive an organization to excellence and gives a vital boost to employees’ engagement that has a “ripple effect” that reaches beyond the recipient.”
And employees should be celebrated all year long – not just for commemorative weeks or the holiday season.
Studies have found that those companies scoring in the top 20% of engagement experience 59% fewer turnovers; and that lack of recognition and engagement has contributed to 44% of employees changing jobs.
According to Great Place to Work, people who feel recognized at work are:
- 2.6x more likely to think that promotions are fair
- 2.2x more likely to say innovative thinking is embraced
- 2.0x more likely to say people here are willing to go above and beyond
One of the top ways to recognize employees, according to an article in Forbes, is through a company-wide communication platform where employees at any rank – not just managers or the C suite – can post about a colleague. In the Truvelop app, the Recognition Wall is a great place for any employee to recognize another employee – and, bonus, this is aggregated with the employee’s file to be referenced in future evaluations.
Other ways to recognize employees include peer-nominated awards, shout-outs at team meetings, and setting goals with a clearly defined incentive to celebrate when achieved.
Some studies have found that 65% of employees actually prefer non-cash incentives!
As more companies permanently move to a distributed workforce, managers will need to be more intentional about recognizing employees – it isn’t as easy as stopping them in the hallway. While frequent recognition is important, the recognition must be authentic to succeed in boosting engagement.
In order to make recognition meaningful, connect it to a specific project or goal, and don’t wait months to recognize the good work! And connecting the recognition to the organization’s greater goals or vision can further increase motivation.
Building a habit of recognizing employees on a regular basis will ensure that they feel valued, and an impactful way to drive engagement and retention.
Contact us today to learn more about our modern approach to performance management and development that actually improves the manager and employee relationship. Don’t just take our word for it, see what our Customers have to say.