Human beings want to be recognized for their efforts and feel valued. It gives them a sense of satisfaction, makes them feel empowered, and drives them to do better for the organization. Organisations are gradually realising the importance of this and implementing employee recognition programs to reward and appreciate their most important asset- the human capital.
Employee recognition programs like Power2Motivate entail numerous benefits for the business, but before we talk about the benefits, let’s first understand its meaning.
What is the Employee Recognition Program?
Employee recognition program comprises various activities and initiatives taken by the employer to recognize, appreciate, and reward their employees. It includes anything from birthday and anniversary greetings, retirement parties to organising small events to rewarding employees for their outstanding efforts in the organisation, or small reward events like ’employee of the month,’ etc. These are formal but fun and drive a positive work culture in the organisation.
Benefits of Employee Recognition Programs
Studies prove that companies that report high employee engagement are 21% more profitable than others. Employee recognition drives engagement. Employees who feel valued and appreciated will trust their managers and their organisation and are more involved in the company’s workings.
Engaged employees have lower absenteeism and higher productivity. Employee engagement programs are a great way to foster trust between employers and employees.
Human beings need the motivation to continue to give in their best. This is true in the workplace too. Employees need recognition from time to time. If they are recognised and rewarded, they feel motivated to do even better and are driven to give 100%. Recognition and appreciation drive both individual and team performances, thereby boosting the overall productivity of an organisation.
Employees leave and move for better prospects. This has become even more rampant in today’s competitive world, and therefore, companies look for solutions to lower employee turnover. It’s not strange that engaged employees are less likely to look for a better job.
Employee recognition like Power2Motivate can help organisations achieve that. If an employee is satisfied, feels appreciated, and valued, there is no reason to look for a job elsewhere.
Positive Work Culture
Today, more and more companies strive to create a healthy work atmosphere where employees feel relaxed, happy, and enjoy their job. They don’t just work for the paycheck and feel a part of the organisation’s vision.
Address their concerns, provide support wherever possible, and share their successes. Employees who feel valued will be more than willing to take extra effort for essential tasks. Such employees prove to be more profitable in the long run.
Employee engagement programs don’t always have to be monetary, though. While monetary programs, salary raises, promotions, and bonuses go a long way in motivating employees, they needn’t always be about money. Even non-monetary perks can drive employee engagement.
Events like team lunches, outings, flexible work hours, work from home, achievement certificate, additional responsibility can boost an employee’s morale. A small start would be to think about what would make the employee’s job and life easy? Power2Motivate has a range of recognition programs. Implementing such suggestions within reason to the best of ability is the first step in the right direction.