Every employee working at your workplace – from a simple technician to a richly experienced manager expects you to recognize his/her work and appreciate the efforts he/she puts in day after day for the success of your business. Employee recognition and rewarding is a process through which employers or business owners make a conscious effort to reward and award your employees not just to acknowledge their work but also to motivate them to continue with the same passion.
There is absolutely no one in the world who doesn’t like being rewarded and recognized for the hard work they do and the same holds true for employees of your workplace as well. Employee recognition is the acknowledgment of an employee’s efforts, hard work and behavior at the workplace that have contributed to the organization’s success and objectives in some way. Both things are very important: recognizing and acknowledging these efforts, as well as rewarding employees for their fruitful efforts. Here are some ways in which you as an employer or business owner can recognize the efforts of your workplace and reward them accordingly:
- Day-to-day recognition– It is important to motivate and encourage employees to perform well on an everyday basis and not just on a periodic level. For example, small words of praise, little words of encouragement and constant motivation are highly important to make your employees feel encouraged for their efforts and to maintain a positive flow of the workplace environment.
- Informal recognition– Informal recognition is the kind of recognition which includes gestures of encouragement and appreciation. A pat on the back or a word of praise in front of the team can go a long way in boosting the morale of the employees.
- Formal recognition– Formal recognition is usually in the form of rewards for service, contribution, and achievements. These recognition forms also include events held for the celebration of achievements. Formal recognition often has some legal and policy requirements.
Importance of Employee recognition
As an employer or business owner, it becomes your responsibility to make sure there is a proper employee recognition program in your organization. Such program offers many benefits and, hence, is of high importance. To know what the various benefits of such a program are, you can go through the following given information:
- Encourage engagement– One of the ways in which recognition of your employee’s efforts or hard work can benefit is by encouraging or inspiring further engagement and boosting overall performance. When one gets some praise or pat on the back, he/she automatically tries to give the same level of performance and improves efforts further.
- Encourage better business results– The simple gesture of praising or rewarding your employees at work can have a direct impact on your bottom-line and can lead to better overall results that are a consequence of better individual performances.
- Increase loyalty & Retain the best talent– When one is recognized for his/her hard work, he/she tends to be more loyal towards you and the work he/she is doing. This is something that can help to retain important and skilled employees in the long run.
- Build a supportive work environment– The more your employees feel encouraged and valued, the more will they be supportive to your cause, hence building a supportive and active work environment.
- Encourage a sense of ownership of the place in employees– When an employee hears a word of recognition or receives an award for his/her services, he/she begins to feel a sense of belonging and ownership for the workplace, which further improves performance and infuses a sense of positivity in the environment.
Source of the article: CLEVERISM