Happy employees are absolutely vital to the success of any business or organisation. Having an employee recognition program in place to effectively recognise and reward employees for their performance and effort is a necessary investment. Moreover, it provides a quantifiable benefit for the company. So you can get the most out of your team, we’ve put together the life-changing reasons that you should develop employee recognition within your business.
Improved team culture
Although business relationships should remain professional, there is still an element of friendship required. If you were in a friendship with someone who was neglectful or dishonest, you wouldn’t want to be friends with them, would you? Employee recognition helps to strengthen the inter-team relationships within a business, improving team culture and overall morale.
Turnover is a significant issue when you consider the huge amounts of lost dollars in employee investment as well as the lost dollars in business opportunity. No company wants a high turnover rate. High turnover means continually training staff, whilst also funnelling hefty amounts into human resources and recruitment. Recognising your employees’ hard work, such as with corporate gifts, helps to engage your staff, and engaged staff leads to higher retention rates.
With improved morale and staff retention undeniably comes increased business success. Motivated and driven employees produce outstanding results; they are invested in their work and impassioned with a sense of purpose. They know how their work contributes to the company’s values and goals. If you meaningfully thank employees for their results, they will be willing to go to that length again because their work was validated.
Creates a good impression of your organisation
Often, when employees enjoy their time at work, they will share this to their circle around them. This includes their family and friends, and most likely, your clients and partners. Even when they don’t state it outright, the attitude and emotions your employees display signify their workplace happiness. Happy and well-recognised employees are a better representation of your organisation, which translates into better external business relationships.
Aids in recruitment
When hiring new staff, the interview is a two-way street. Although you may be interviewing them for a position in your company, it is also your responsibility to sell your company to them; to let them know why working for you is desirable. Custom recognition programs can be promoted as benefits of employment, as they show candidates that your employees are important to you.
It is essential to the success of any organisation to recognise and reward employees for their contributions. When hard work goes invalidated, why would anyone feel inclined to repeat the positive behaviours they exemplified to deliver those results again? Combat these problems by implementing a strong and consistent employee recognition program.