When an employee puts their blood, sweat and tears into completing a task at work, it required not only taking the lead, completing it on a tight deadline, and doing late hours, but it also called for going beyond the typical job responsibilities to get the project done. This work warrants a reward in terms of a promotion, a bonus or a raise. However, when none of it is delivered to an employee, this experience is back-pocketed and an employee moves forward. But will an employee be inclined again to invest that much of effort and time into the next task? Most likely not.
When hard work goes unrecognized, no one would be inclined to repeat the positive behaviors inculcated in achieving a project goal, again. These experiences highly discourage the workforce and are damaging to employee engagement. The consequences are equally detrimental for the management. Their reputation is affected and they are not perceived as a team player. This will not only affect their potential to retain top performers but also infect their ability to recruit top talent. To explore more about professional jobs in Australia, please pay a visit!
Recognition at Workplace
Recognition of an employee’s hard work secures top performers in the company and their will to go an extra mile to achieve a task. Employees are motivated by recognition, particularly when it’s communicated through acknowledgment of their endeavors since it affirms that their work is esteemed. Workplaces should incorporate recognition as a habit with a goal to continue fostering their business. Recognition is a basic element of employee engagement and the fundamental aspect of the employee-manager relationship. A basic thank you goes far and won’t just make your workers feel better, but will also benefit your business.
Several reasons can account for the importance of employee recognition. However, three reasons stated below are a backbone and the ultimate goal of any competitive business to get going. For more about employment law Australia, please pay a visit!
- Reduced Turnover
Recognition is straight-off coordinated with reduced turnover rates, helping your business to remain on the track of success. Recognized workers are engaged, and engaged employees liken to higher retention rates. Turnover is a huge issue when you consider the number of lost dollars in employee program and the great many lost dollars in business opportunity.
- Enhanced Team Culture
Companies now believe in team work for which there must be a positive environment that fosters team culture. A culture of recognition engenders employee engagement making employees want to work and continue to make a lasting impression on their co-workers.
- Increased Performance
A workplace infused with recognition drives increased performance by its motivated and highly-spirited employees. Outstanding results are produced by the invested workers having a high sense of mission. Employees when recognized become aware of how their work adds value to an organization’s goals and objectives.
Your employee reward program should include these following key areas just as a basic:
- Instant recognition – celebrate small wins to reward employees immediately
- Rewards – visible goals so that everyone desires to win
- Peer to peer recognition – let employees celebrate the work of their coworkers
- Long-service awards – celebration of milestones to give a shout out to long loyal staff
It’s essential to custom your plan per your company, so it mirrors your culture and brand. Keep running in the correct route, an employee recognition plan will hugely influence your business.