Appreciation and recognition are fundamental needs, businesses must acknowledge the impact of employee recognition and should consider the following tactics for their engagement strategy.
When you were a child, what was the main reason you’d continue playing a sport or focusing more on a particular subject in school or an artistic expression of some form?
Whatever the particular activity was, you’d likely work hard at doing it, try to do it better because you were good at it, and at times, you’d get validation on how good you were at it from your parents, your superiors, and other kids around you. That support and recognition helped drive you to do better and focus as much as you could to excel. You’d want to pursue it more because you’re good at it, and eventually you’d enjoy pursuing it even more because you’d get recognized for being so good at it.
Appreciation is a fundamental human need and this basic logic is why employee recognition works.
Acknowledging achievement can give businesses 50% higher productivity and as much as 20% increase in business outcomes.
Employee recognition of all kinds and rewarding them for their achievements motivate them to strive to do more and achieve more. Here are five employee recognition tactics businesses can use to help boost employee productivity that results in supporting the organization’s goals and values:
a. Points-Based Reward System
A points-based system encourages employees to reach their goals, small steps at a time, and keep track of their progress. Higher management has the opportunity to recognize their subordinates by awarding them points for going the “extra mile”. In fact, recognition can go up the ladder, down the ladder, or even at the same level. Organizations can introduce gamification into their employee engagement strategies and base it on a points-based reward system.
b. Monetary Recognition
This tactic is not for every business but it can be done at different levels. Monetary recognition can be given when much larger goals are achieved. Let’s say for maintaining an increase of 20% productivity every month for the whole year. Interconnect it with the previous tactic, rewarding monetary recognition for achieving 10,000 points for the year.
c. Personalized Recognition
Take it one step further and make it beneficial for both parties. Instead of giving money directly, offer to fund an educational endeavor or something that helps to improve their health. Invest in improving your employees’ skill set that will benefit the business. Offering personalized and experiential rewards are more impactful and more appreciated. This helps to drive long-term engagement and employee retention.
d. Social Recognition
Promote an environment of recognition within the internal social platform. This will cultivate comradery between employees no matter what level. Higher management generally recognizes subordinates, a social platform will promote recognition top-down, at the same level(between employees) and bottom-up. Invest in a good social platform that allows employees to award points to others as a form of recognition instead of just management giving it to employees. This way no achievement goes unnoticed no matter how big or small.
e. Contests, Events, Charities, and Sports
A great way to supercharge each employee’s individual will to achieve a goal is by adding a competitive element to the mix. Contests, quizzes, and sports are a great way to get their blood pumping enough to charge towards winning. Winning a trophy or a large prize always works as an effective motivator. It also promotes teamwork and team building.
Events and charities are a great way to get employees involved. Giving people a mission helps them feel like they are part of something greater, to be able to contribute to a greater good gives them a genuine push to do good for others and they develop a sense of self-accomplishment. There is a reward in someone recognizing themselves. The reward is even larger when they have collectively achieved something brilliant like helping to feed a village in a developing nation overseas or even within the same rising country.
Employees, teams, and management feel connected to their employer when they are recognized and appreciated for their contributions. This will help businesses supercharge their ROI. Take the time and effort to find the right engagement and communications platform that will help you do it all without spending too many hours or resources in executing your employee engagement and recognition strategy.