Recognizing your employees needs to be part of every organizational culture. One needs to give it worth enough to make it happen. As an employer, you need to open your heart and budget while planning an employee recognition program as this is the key to win the heart and trust of your employees.
Every employee is keen to receive appreciation and recognition from their organization as they feel they deserve to accept it as per the effort they have put in. Therefore, employers anonymous should not only appreciate them just for a day but should make a habit to reward and recognize their hard work often. Let us see the importance of employee recognition –
Lowers Employee Turnover and Retention
If employees are not appreciated, it has been observed that the employee turnover and retention decrease over some time. Simultaneously, it decreases all the extra costs of recruitment and training the new employees. These costs are unavoidable, and it may take at least six months for a new trainee to settle down in their job and be more productive than the old employee.
Increases Employee Happiness
Those employees who are rewarded and recognized for their inputs, stay happier, leading to motivation among co-workers. They randomly increase the productivity of business operations, making it a win-win situation for the organization as well as for the employee. Because of respect from their managers and special incentives from the company, they never think of quitting their jobs. Eventually, they always strive to achieve their targets successfully.
Lowers the High cost of disengaged employees
As per research reports, most disengaged workers create a nuisance to their workplaces by missing work days and not contributing enough, negatively impacting other co-workers’ morale. This factor hampers the work atmosphere leading to unhappiness in everyone’s lives while affecting business adversely. By implementing recognition tips from Power2Motivate, if every employee is recognized and respected in the organization, the number of disengaged employees will be way lower than before.
Increases Employee Engagement
Most employers have a daunting task to keep their employees engaged. Employee appreciation is an excellent tool to overcome this problem. Implementing a robust employee recognition and appreciation program in their workforce will make your employees feel respected and valued. This program will help improve engagement in their respective jobs. Not only will you see a drastic improvement in your organization economically, but you will notice that engaged workers will be contributing to the projects actively.
Employees get connected with your organization’s goals and feel more responsible for their portfolio. While interacting with customers or other investors, they will act as the leading brand ambassadors, thus indirectly helping their company to earn more profits.
Increases Trust to the Company
A happy and satisfied employee will always be worthy of their company because if a company cares for them, so do, they. With factors like the Colorado personnel file law in employment, where employees are entitled to view their personnel files at least once per year, employees are able to see their relationship with their employer on paper. To build such a trust factor employee appreciation is a must in every organization. It enables them to form a bond between the employer and the employee, which keeps them more connected and committed to their workplace. In cases of remote employees too, encouraging and appreciating their contributions can help to manage the challenges to reach their goals.
Improvement in profitability
As the saying goes, happy employees generate more profits for any organization. To keep an employee satisfied, an employer needs to balance all the factors that influence the employee in your workplace. By following the work environment, they help the employees in their critical phases.
They also strive to be a progressive mentor in times of difficulties, contributing to a better relationship between the employer and the employee. The level of trust will increase among the staff, and they would feel free to communicate with their managers, thereby increasing profit margins of the company drastically.
Recognized employees stick around.
An employee who is satisfied with his work profile, with the relation between the co-workers and the type of respect he receives from his company then it is but natural that he will never think to leave this job at any cost. They will stick around and will also save a lot of bucks for their organization indirectly.