3 Main Reasons Why You Should Already Start an Employee Recognition Culture
There is a popular saying on the internet that goes, "Employees do not quit jobs; they quit managers." Often, employees are satisfied with their job, but they are not happy with their managers or supervisors. They feel that their managers make them feel undervalued.
Taking the time to recognize employees and do it appropriately and correctly can be a difficult task for many managers. Sometimes, meetings and other projects on their "to-do" list become a handful that recognition merely slips to the back in terms of priority. However, managers and organizational leaders need to understand that having employees who feel genuinely appreciated is crucial in running a successful company.
1. When Employees Feel Recognized and Appreciated, They Stick Around Longer
Recognized Employees are Happy Employees. When there is a feeling that management truly values their work, a solid bond is created between employees, leadership, and the organization as a whole. Did you know that it costs more to train new employees to the point where they can work as confidently or even more efficiently as your former employee who has stayed in your company for years? In a U.S. Bureau of Labor and Statistics report, it was found that a vast majority of employees founded that vast majority of employees, when asked why they decided to switch careers or leave a particular company, was because they felt a lack of trust, respect, and recognition. By recognizing their efforts and contributions, you could reverse these trends and keep your top talents around longer.
2. Increases Employee Engagement and Encourages High Performance
Appreciation helps boost morale, which in turn increases productivity and efficiency. This may also motivate employees to continue this positive trend and produce better quality and more work. When employees see and feel that you appreciate their efforts and take the time to show their positive impact on your business, they feel good about what they do and motivates them to perform better each time they go to the office. When employees feel appreciated, they experience more self-worth, and their ability to contribute to the company increases. You then encounter a happier and more productive employee.
3. It Drives Better Business Results
When employees are recognized and appreciated, they, in turn, become more productive and high-performing individuals. This can result in a relatively elevated increase in business revenue. According to a survey, it is said that 46% of Senior Managers perceive having a recognition culture in the company as an investment, and 41% of companies that use peer-to-peer recognition proved to have positive increases in customer satisfaction. In an organization where employees or teams are recognized, the average score for employee results was approximately 14% higher than in an organization with a non-existent recognition culture.
Essentially, making sure that management recognizes employees regularly and in a meaningful way contributes to several significant benefits that positively affect the organization. Make sure to stay committed to implementing a recognition culture in the workplace. Even today, employee recognition isn't quite common or as celebrated as it should be. A good deal of managers chooses not to make it a priority, either because they're too busy themselves or because they simply don't understand why it's so vital to a thriving workplace. Recognition is essential in a great workplace, and it doesn't have to be complicated or expensive. Encourage cultivating a positive work environment, promoting employee engagement, and exercising employee or peer recognition to experience a massive positive change in your business.