What’s The Point Of An Employee Recognition Program?
Employees want recognition. This is especially true for the employees who work hard for your company. An employee recognition program is a great way to show appreciation to these employees. Employee recognition programs initially began as a nice way to show appreciation. Now, many companies align them with their business goals and incorporate them into incentive and reward programs.
How Does It Help You?
First, properly develop and administer your employee recognition program. Once implemented, companies benefit from better communication between management and employees. The program also shows an increase in employee happiness, loyalty, and retention. You are also able to more quickly identify low performers within the company. This will not only make your employees more productive and happy but produce greater success for your company. Sound good?
How Does It Help The Employee?
Feeling appreciated in your role can boost confidence and spirit towards the work that you do. You know the saying “Love what you do and you’ll never work a day in your life”? This comes into play when you give employees a role to be proud of. You are more likely to enjoy something when you are better at it- that is common sense. However, a little competition never hurt anybody! So, by implementing an employee recognition program, you are essentially boosting morale, competitive spirits and improving drive in the workplace. Who knew?
How to Create an Employee Recognition Program
Wanting to create an employee recognition program? Here are a few steps you should begin taking:
- Determine Program Objectives – You should have a clear idea of the goals you hope to achieve with your program. How do employees get the award? Also figure out what achievements you wish to highlight, and what policies and practices will drive the program.
- Determine Rewards – Rewards should be something your employees want. You can go the traditional route with a plaque or trophy. If this doesn’t speak to you, try choosing monetary incentives like bonuses.
- Clearly Communicate the Program to Employees – Many companies are now adding an employee recognition program page to their website. Your employees can visit and clearly see what is being offered. In addition, potential employees are getting a better idea of the benefits of working for your company.
- Determine When and How Winners Are Announced – Determine how frequently you will announce winners, such as monthly, quarterly or annually. You will also need to determine where you will be making the announcement. At a company meeting? On the company’s website? Or just in an email?
- Evaluate the Program – Get feedback from managers and employees on the program’s success. You may find that there are small adjustments that need to be made to ensure better success in the future.
Needing Further Assistance?
The team at Optimum Employer Solutions is here to help your employee recognition program be a success. As part of our comprehensive PEO service, we are happy to provide guidance to help you set up and implement an employee recognition program within your company. Reach out to us today to get started and soon you and your employees will enjoy the many benefits of an employee recognition program.