In the United States, less than half of employees feel passionate about their jobs. Employees are the heart and soul of a successful business.
However, it is not always easy to make every employee feel heard or recognized in larger companies. This can affect employee morale and make some people feel invisible.
What is one way to fix this as a manager or business owner? Employee recognition.
But this may be easier said than done for some people to pull off. However, it is essential to keep a positive work environment.
Here are some of the biggest reasons employee recognition is vital for a business.
1. Increased employee retention
One of the biggest red flags of working for a business is if there are always new faces walking in and out of the door. That means that there is high turnover and that the employees working there are not satisfied with the working conditions of said business.
If this happens, the business can gain a negative reputation, employees can lose trust in the leadership and stability of the business, and managers would have to constantly take time to train new people to fill the void.
Employees being recognized can significantly help decrease employee turnover. If that happens, the business is more likely to develop chemistry among the employees and build a core to drive your business.
In the United States, retaining employees is not always the easiest thing to do because the turnover rate has never been higher. In addition, last year, about 47 million Americans decided to quit their jobs. With that in mind, it is more important than ever to hang onto your employees.
With fewer companies in America than ever having a good turnover rate, this can be an opportunity for businesses that can retain their employees to have more stability than their competition.
If there is significant stability in a business, that can allow that business to focus on other goals for the company rather than worrying about who will work for them.
2. Increased employee motivation
Another reason why employee recognition should not be underestimated is that it can lead to more motivation from your employees. If employees are constantly in fear of their jobs and do not respect the company, they are unlikely to give a company their maximum effort.
Making employees feel heard is a way to get their full potential and allow them to push a business in the right direction.
This is also a great way to discover a hidden talent that may be working in another position. If those people are given a platform to speak out, you could gain their loyalty permanently and groom them to be management material.
Motivation is a big key in keeping employees invested in your business and the vision of your business. Once you start giving employees recognition, they are being heard and appreciated, and they are likely to give you that increased motivation in return.
3. Building chemistry
There are many ways to recognize employees for their talents, but it can increase team chemistry among your staff when you do it in team activities.
An example of this can be a scavenger hunt with groups of people having to find items scattered all around the office. You can give a small prize to whatever team finds the most items to reward their hard work.
With employee recognition, as discussed above, employees are also more likely to remain together and work on future projects together. Again, this allows those employees to learn more about each other and their work styles.
Examples of Employee Recognition
So, with chemistry, employee retention, and increased employee motivation benefits, you need to recognize your employees. Here are some examples of things that you can do with them:
- Scavenger hunt
- Trivia night
- Team projects
- Sales contests
- Company retreats
- Company night out
- Raffles for prizes
Some of these allow employees to get rewarded for hard work, such as sales contests and team projects. Meanwhile, others are an opportunity to get to know employees better and thank them for the hard work that they have already been doing.
Activities such as these are not only acknowledging the hard work that your employees are giving to the company but also allow employees to feel more like a family. Things such as a night out or a retreat give employees a chance to get together outside of the office and get to know each other better.
This can be especially critical for companies that have a smaller staff. In those situations, employees are likely working closer together and already have a better idea of who everybody is. In addition, with team activities and rewards such as these, you can keep that small staff happy with each other and with the bosses.
In larger companies, it is an opportunity for an employee to stand out from the crowd when they may feel like just a number. In other circumstances, such as a night out or a retreat, it can give employees a chance to recognize each other when they may not have interacted much with other departments.
Learn more about how to recognize your employees
Employee recognition can make or break a business for the reasons above. If you use some of the examples above, you are heading in the right direction.
Do you want more assistance on how to recognize your employees via engaging 1:1s, continuous feedback, or 360-degree reviews? Please contact us today to find out more.