Recognition/ Awards / Formal
Now more than ever, leaders are focused on engaging and keeping great talent. With talent management being the number one priority for much of corporate America, leaders agree that attracting and retaining great people comes down to establishing a workplace culture built on common courtesy, respect for all people and ongoing acknowledgement of people’s efforts.
Research shows that meaningful recognition practices lead to higher employee engagement, retention, productivity, all of which point to increased profitability. Companies on Fortune’s “100 Best Place to Work” list financially outperform S&P companies by 30-40%.
Develop a formal recognition strategy within your organizations by tying the recognition to the goals and objectives of the company. When it comes to performance or tenure awards, the acknowledgement should be a public process whenever possible. Presenting awards in front of other employees inspires them to meet their potential and to make similar contributions.
Celebration / Barware/ Informal
One of the most important aspects of developing a great culture is celebrating the wins of teams and departments. We all know too well how tough business can be at times, and that’s why we must acknowledge the times when our teams or departments rise to the occasion and make a significant impact on the business.
There’s a certain level of pride and camaraderie that develops when teams come together and exceed what they thought was possible. When these special moments happen, make the most of it by celebrating! Whether everyone on the team receives branded merchandise or lunch is brought in, the idea is to make it memorable, fun and impactful.
Appreciation/ Business Gifts/Day to Day
Employee recognition is more than just formal and informal awards. Appreciation should be integrated as a daily practice into the workplace culture and business model. Showing appreciation for the positive actions and behaviors of employees can be as simple as thanking individuals for their efforts on a project, providing a business enhancement solution, contributing time to a community charity of their choosing, or just supporting others team members when needed.
When an employee knows their efforts are seen and appreciated, and the leadership takes the time to demonstrate how much of a measurable impact they’re having on your business, those employees feel good about what they do, and they take those feelings home with them.
According to a recent SHRM post in this past October, happy employees are, on average, 35 percent more productive than their less happy counter parts. When it comes to making a lasting impression on people, lifestyle keepsakes can create a timeless and elegant way to honor the exceptional efforts of your employees.
Awareness / Brand Shapes/ Culture Builders
What if every manager and every employee could easily learn the names, positions and tenure of everyone in their entire company? Would it create a culture of better communication and appreciation? You know it would! Internal cubicle signage with that information would go a long way to making immediate recognition happen. Another great culture builder is posting the core values of the company or its purpose throughout the company to raise awareness of what matters most to the organization.
The ultimate goal of all of these strategies is to increase trust, improve productivity and elevate employee engagement. According to Gallop’s 2021 State of the Workplace, the distinction between engaged employees and an Engaged workforce is as follows:
- An engaged employee has an emotional buy-in to the values and culture of the company. This employee feels as if your company is their company. Your success is their success. Your loss is their loss.
- An engaged workplace has an emotional buy-in to the well-being of its employees. This organization feels that the employee is their most valuable asst and understands that a commitment to their employee’s well-being has a direct impact on their bottom line.
