Employee Recognition to Boost Productivity in Business!
The problem is that most leaders spend a ton of money, time, and effort on recognition without actually improving engagement. Why is it essential to keep staff glowing? Because engaged employees are tremendously more impactful on the company's bottom line. Research shows that recognition also has a massive impact on business outcomes like revenue and profit. Delta Airlines introduced an employee recognition program that resulted in a 564% ROI increase. Eighty-two percent of employees don't think they are recognized for their work as often as they deserve, according to BambooHR. This brings us to the question: How often should you praise your employees for making them more engaged? Every month/quarter/year?
Facilitate Peer-To-Peer Recognition
We all feel better when the people we work with recognize our wins, much more than when it comes from a manager, which can seem forced. Peer-to-peer recognition is 36% more likely to have a positive impact on financial results than manager-only recognition. But you don't need research to prove this point. Our coworkers know the job's ins and outs, so when they give kudos, it just feels authentic.
Match Recognition With Outcome
If you want to engage people and inspire them to do great things, your praise should match the staffer's outcome. Suppose you fail to recognize the effort appropriately. In that case, you will leave the person hanging with a strong feeling that they are not appreciated enough.
Match the Recipient's Interests
We all have different interests, and you as a leader need to recognize this and offer something that will be of value to the recipient. This is where online survey tools like Google Forms come into play. So set up a survey, look at your findings, and start rewarding your people in intelligent ways.
This kind of timely recognition is going to make Harper feel engaged. It will encourage her to deliver more to get that dopamine hit later on. Giving psychological recognition and monetary rewards to employees should be part of your organization's DNA. If done right, you will have an environment where everyone will be glowing and delivering their full power to your organization.