Corporate E-Learning

To a business, an employee recognition program is not a luxury, it is a necessity. With a well-built employee recognition program, companies can improve job retention, employee engagement, team work, reinforcing company values, and more. Employees are more likely to continue employment with a company if they feel they are appreciated. There are many different types of employee recognition programs, and all are beneficial to your employees.

Like ice cream, there are many flavors of employee recognition programs. Being able to assess what program or programs are needed is essential to a company's success. Research shows that 79 percent of people who quit their jobs cite lack of appreciation as the main reason, and recent focus groups on appreciation found employees become disengaged when they don’t feel appreciated. Employee recognition programs, can keep employees motivated, safe, happy, and invested in your business.

Developing an employee recognition program can be a huge boost for employee engagement and satisfaction. Some studies have shown that recognition is listed highest in employee satisfaction. Employee recognition programs can promote the core values and beliefs of a company while building a more engaged employee base.

How can an employee recognition program be effective if no one knows anything about it? Like in any relationship, communication is the key!! You have to get the buzz out about your program, get excited about it! Making the work environment more enjoyable is a big deal! You wouldn’t launch a new product line without advertising would you? Don’t be afraid to get out there and tell everyone the good news!

Feeling appreciated is an important part of the workplace dynamic. A 2011 report on Employee Recognition found that only 14% of organizations provide training on recognition to managers. Part of a manager’s job is to influence their employees to work hard, and work smart. Instead of just saying thank you to an employee who has been with the company for 10 years, take the time to give them some sort of certificate, or thoughtful gift. Providing well thought recognition will result in better morale and productivity.

According to Dr. Bob Nelson, employees in a company that has a culture of recognition are 5 times more likely to feel valued, 7 times more likely to stay, and 11 times more likely to feel completely committed to their jobs and mission of the organization. Fun Facts about Employee Recognition from You earned it: • Happy employees are 85% more efficient • Happy employees are 55% more effective • Happy employees deliver 42% better customer service • Happy employees stick around 2x longer than unhappy employees • 80% of Gen Y said they prefer on-the-spot recognition over formal reviews, and feel that this is imperative for their growth and understanding of a job.

Tough economic times don’t mean that you can’t recognize your employees. There are so many ways that you can reward employees without writing a check. A survey found that “frequent of accomplishments” was the top non-monetary compensation named by employees with “regular communication” coming in at No. 2. Both activities can make your staff more productive without shaving one millimeter off your bottom line.

Employees are the heart of any business. Employees who are not engaged can drain the positive energy out of the office atmosphere. Enthusiasm is infectious, and employees who are engaged spread their enthusiasm to not only employees but customers. Happy employees are the biggest gain to any business' bottom line. Keeping your employees engaged in their job does not have to break the bank. We will explore how to recognize your employees while staying in a budget.

Giving recognition to all of your employees is critical. When striving for excellence, sometimes you have to spend money. Having a reward that people really want to work for can benefit your company more than the cost of the reward. According to Awardco, “MGM documented their 2005 recognition program, tracking individual productivity in each department, employee satisfaction surveys, and employee turnover. MGM noted that employee satisfaction rose to 90.3%, turnover dropped to 11.4%, and revenues rose from $714 million to more than $1 billion.”

Most employers are aware of the benefits of employee recognition programs. These programs can aid in increased productivity, a happier staff, a loyal staff, lower job abandonment, and decrease absenteeism. Many businesses still have not appointed an employee recognition program, or they have and program is failing. Why would an employee recognition program fail? The following are some major employee recognition “don’ts.”

One of the greatest challenges any recognition program faces is maintaining momentum after the new wears off. Decades of studies have proven that people function better in environments that are based on rewarding employees rather than chastising them. Creating and maintaining an employee recognition program is not always a simple task. With the help of a few basic guidelines, maintaining an effective recognition program can be simple.

Although this workshop is coming to a close, we hope that your journey to Employee Recognition is just beginning. Please take a moment to review and update your action plan. This will be a key tool to guide your progress in the days, weeks, months, and years to come. We wish you the best of luck on the rest of your travels!