Employee recognition is an internal program showing appreciation and recognition for employees' performance and work. It is usually tied to rewards that one can get once their company or organization recognizes them.
Employee recognition is an everyday/week/month recognition for what was accomplished and should be ingrained in the company culture. What comes to mind when you hear the words' employee recognition'?
A dull 'thank-you' slide with the name on it at the company yearly kick-off? Is it a note in your annual review? Employee recognition is not, and should not, only mean a yearly bonus or an occasional generic 'good job' from your boss.
The feeling of accomplishing something and putting all the heart and soul into it is incredibly uplifting; however, if you multiply that by others taking notice, it will be a tremendous confidence and morale boost.
The link between recognition and retention is quite known. Many companies use a decrease in turnover as a sign of the retention program's success, which is a critical objective for many companies.
A great way to recognize employees is to empower them to celebrate each other and combined wins. Allowing employees to share how someone helped with a project, went out of the way to answer a question, or simply did a stellar job is an example of recognition that is small in investment and has high potential.
An exciting reward for implementation could be adding non-monetary yet exclusive elements to the recognition program. Think about how fun it would be to offer employees an option to earn an extra day off or lunch with an executive of their choice.
Rewards and recognition don't have to be something boring - they should align with companies' values and bring them to life. Core values get to live out through recognition and retention.