Is Giving a Trophy or Award for Employee of The Month a Good Idea?
A recent survey showed that HR leaders see employee retention, employee turnover, and culture management as top workforce management challenges. These challenges drive companies to be more aware of how to show appreciation towards their employees’ hard work as well as how to help them develop as professionals. Based on the survey, human-centered approaches, value-based recognition, funded recognition programs, peer feedback, and celebrations are seen to be the top valued recognition programs a company can give to an employee. These methods can help retain current employees as well as become a magnet for a company to attract new hires. Below are a few of the many ways employee recognition and appreciation helps your business!
Employee Appreciation Increases Individual Productivity
- When you recognize the desired behavior of your employees, you increase the repetition of the desired action, creating productivity. If employees are shown appreciation and rewarded when they do work well, then the behavior is reinforced.
Employee Appreciation Increases Customer Satisfaction
- According to CBS News, happier employees are more productive. Happy employees generate productive interactions with customers and therefore lead to increased revenue.
Employee Appreciation Improves your Organization’s Workforce
- Long term, satisfied staffs, when happy with their career, are more willing to share their expertise and knowledge with new employees. Organizations with high levels of employee satisfaction are able to hire employees with increased skill levels.
Employee Appreciation Improves Morale
- Staff morale is a crucial component of any operation. Praising and rewarding employees leads to higher morale and inspires greater creativity, productivity, and overall satisfaction.