Everyone wants to feel valued and appreciated. It’s a simple, basic human need in all areas of life, including work. There’s both business case and a human case for showing gratitude and recognizing your employees for their contributions and commitment to your business.
- A recent American Psychological Association study showed that 93 percent of employees who reported feeling valued said they were motivated to do the best at work, and 88 percent reported feeling engaged. Also notable: only 21 percent said they would consider looking for a new job in the coming year.
- People need gratitude, connection, and validation. It helps build their self-worth and resilience. When leaders make employee recognition a priority, they foster a culture of gratitude and ownership among employees – an environment where people feel responsible for and empowered to likewise recognize each other for successes and work well done.
Appreciation is important to employees, teams, and your business.
Here are some additional statistics that demonstrate the value of recognition in the workplace:
- The leading reason people leave their jobs is a lack of recognition. For many, it takes precedence over salary when it comes to their motivation levels. So, don’t miss an opportunity to show employees your appreciation. Celebrate accomplishments and progress, and demonstrate your commitment to help them grow in their careers. If you don’t already have a formal recognition program, consider making 2023 the year you start one.
- Companies with recognition programs experience 6 percent lower employee frustration levels.
- Recognition is one of the top drivers of candidate attraction.
Best Practices for Employee Recognition
Employee appreciation efforts will backfire unless they’re tailored to each individual being recognized. It’s fine to have a standard process in place, but think about customizing the specific rewards you give.
Some people are more comfortable in the limelight than others. So, while a big splash in your employee newsletter and a shout-out in a town hall meeting may work well for an outgoing extrovert, a more introverted employee might be mortified by it. Find the right balance and the right reward in each individual case.
In addition to personalization:
- Tie recognition to a particular accomplishment. This way, an employee understands exactly what they did well, and so do their peers. Last but not least, they’ll be likely to continue those behaviors in the future.
- Be prompt. Recognize employees ASAP after their milestone or contribution. The impact and meaning is lost if you wait months after the fact.
- Tie recognition to your company values. This keeps those values in front of people, and fosters your healthy culture.
If you need more ideas for employee recognition and building your winning workforce, contact PrideStaff Modesto today. Our goal is to deliver what matters most to you – and in doing so, help you attract and retain top talent, realize a greater return on your recruitment investment, and keep your company on the growth track.