Research has found that almost all employees respond to appreciation at work, particularly when it is expressed through a form of effort recognition. Like students who receive their qualifications at their graduation ceremony to acknowledge their hard work, staff should also be regularly acknowledged for their hard work and qualifications gained whilst at work. This is because recognition of their efforts demonstrates that their work is valued by the company. Recognition does not require a large gift; in fact, a simple “thank you” can be enough to keep a staff member happy.
This article will provide information on the advantages of employee recognition and rewards.
What Are the Benefits of Staff Recognition and Rewards?
It is a well-known fact that engaged employees are significantly more productive, more efficient and more proactive in their work environment. If a staff member’s efforts are praised and rewarded, it makes sense that other members of staff will attempt to work harder to receive this type of employee recognition.
2. Employee Happiness
Fulfilled employees present with happier temperaments and are more motivated to perform because of this positive feeling towards the business. When an employer treats his or her staff members with gratitude and respect, then it is likely that the staff members will perform in a productive manner. Positivity is important in a work setting and happy employees spread feelings of positivity throughout the company – a highly beneficial environment all people want to be a part of.
3. Increased Job Satisfaction
Recognising a staff member’s efforts is a sign that you value the work they are doing for the company. The recognition of work effort is often considered a reward and, therefore, must be significant. Consequentially, this makes the employee believe they are making a difference to the business.
If the staff members are engaged with the company, they should be able to market the business’ brand more effectively than people who do not care about their work. Rewarding people who work hard tend to generate loyalty and will assist in building strong relationships within the team and the organisation.
5. Team Culture
Rewards incorporating peer-to-peer recommendations are ideal means of building team spirit because they encourage employees to identify positive characteristics in other staff members. Allowing colleagues to nominate others for rewards can be considered empowering and demonstrative of the value you place in their opinions.
A high turnover in employee retention will always lead to low morale among existing staff members and can result in people searching for alternate employment. The time needed to recruit and train new employees can affect fiscal costs; therefore retention of staff must be a priority. Provision of rewards offers staff a reason to stay at a company. A fulfilled and happy staff members will not only choose to remain at a company but will also perform better towards the business.
How Can One Provide Staff Recognition and Rewards?
One of the most efficient methods to provide staff recognition and reward is through a structure staff recognition program. This staff incentives scheme is typically run using an online platform and provides access to information for both management and employees. Rewards will be visible to all staff members providing additional incentive to work hard. Performance metrics are also accessible to the management team allowing them to monitor staff progress and recognise the efforts of the employees. This platform is easy to use and inexpensive to implement making it ideal for recognition and rewards.
What Should a Recognition and Rewards Program Include?
To acquire an employee recognition program, there are five different areas that should be featured. Here is a brief summary of the features:
- Long-service rewards where loyal staff members celebrate milestones.
- �Peer-to-peer recognition empowering the staff members and celebrating the employee bonds.
- Rewards to encourage employees to work harder.
- Instant staff recognition where performance metrics allow employees to be immediately rewarded.
- Personalising the scheme so it reflects the unique company brand and staff culture.