4 Employee Reward and Recognition Programs That Work
The primary goals of employee reward and recognition programs are simple: attract and retain amazing talent. So, we shower them with awards, praise, and tokens of appreciation to express our gratitude for their service and dedication. But, are we doing it right? And well enough?
The research pros at Gallup, Inc. found, “only one in three workers in the U.S. strongly agree that they received recognition or praise for doing good work in the past seven days” and that many workers feel their best efforts are ignored. These folks are twice as likely to quit their jobs in the coming year.
In short: We need to do better. Here are a few ways for leaders and managers in your organization to recognize accomplishments, boost employee motivation, increase company loyalty, and meet employee retention rate goals.
Individual Personalized Outreach
The gold standard for employee recognition relies on one-on-one communication from a top-level colleague. We want to hear positive words from our supervisor or the head of the company. Gallup, Inc. found the most memorable and meaningful recognition came from the employee’s manager (28 percent), the company’s leader or CEO (24 percent), or the supervisor over the individual’s boss (12 percent).
The outreach should be genuine and personal. Taking a few minutes to chat about accomplishments and share a handshake speaks volumes to an employee. Writing a note on quality stationery or in a thank you card also makes a big impact.
Employee of the Month/Year
The next most effective form of recognition is based on individual outreach in a public forum. When a supervisor presents a certificate, award, or verbal praise for an individual employee in front of his or her peers, the impact is two-fold. The employee feels appreciated, and the staff learns more about the company culture, possibly feeling inspired to aspire to a similar experience.
Explore this option by creating your own employee of the week, month, or year depending on what feels appropriate for your industry. Make the announcement public and available for the entire staff to enjoy, whether it’s in the form of a meeting or morning announcement.
Individual Evaluations and Reviews
Although it’s not glamorous or public, employees feel valued when you take the time to sit with them and review their goals and performance within the company structure. These evaluations give both the supervisor and employee a chance to discuss improvement, promotions, and future opportunities. Again, personalization and direct communication with a superior at the company is key.
This form of recognition is usually part of an annual employee performance review. In a smaller office setting, this sort of check-in would be valuable after completing large company projects every few months or even on a monthly basis. Consider pairing the reviews with an employee appreciation day to enliven the workday.
Peer-to-Peer Recognition
Gallup, Inc. finds that you really can’t give too much feedback or recognition. They feel it should be all-encompassing and come from supervisors, peers, clients, and customers to really make an impact.
Share shout-outs for individual employees on customer surveys. Allow peers to nominate their co-workers for company awards. Encourage immediate supervisors to recognize when an employee excels in accordance with the company culture, purpose, or brand.
Are you ready to overhaul your company’s employee reward and recognition programs? Find everything you need to acknowledge your amazing employees at PaperDirect today!