As a Business Manager or HR professional, one of your key responsibilities is ensuring your employees are always performing at their best and putting in the effort required to help you grow your organization.
As part of this, it’s important to reward and recognize your employees for their hard work on a regular basis.
According to Deloitte, recognition is highly correlated with improving employee engagement, in turn improving job performance. In fact, their research shows that employee engagement, productivity and performance are 14% higher in organizations that recognize achievement than in those that do not.
Of course, this suggests that a failure to recognize your employees can have quite a limiting or negative effect on your company over time.
That’s why today, we’re going to look at some of the many benefits that your organization can enjoy simply by celebrating success together with your teams.
Recognition boosts employee motivation, team morale and cohesion
It’s natural as humans to want to be recognized for our achievements or the effort we’ve put into something important. It makes us feel good and it motivates us to do it again in the future.
Your employees are no different.
Celebrating their successes in the workplace helps them to feel valued and that they are contributing in a positive way, leading to improved motivation and performance over time.
Of course, when each member of your team feels this way, morale is much higher across the board, and you will find your team working more cohesively to achieve the collective goals of your organization.
Recognition increases employee engagement and retention
An engaged employee is a satisfied employee.
When your employees feel satisfied by the work they’re doing and they feel recognized and rewarded for their efforts, they are far less likely to leave your organization or look elsewhere for another role.
Of course, the opposite is also true. Employees who don’t receive recognition are two times as likely to look for a new job.
That’s why regular recognition to help improve employee engagement is so important.
Recognition can help attract more talent to your organization
Organizations that are known for regularly recognizing and rewarding their employee’s successes have a far greater reputation in the market, especially when it comes to hiring new talent.
Research shows that 86% of employees look at company reviews and ratings before applying for a job, meaning that if your current or former employees don’t feel like they have been valued or respected in their role, your potential job candidates are likely going to hear about it.
This suggests that recognizing your employees’ contribution to your company has to be one of the easiest ways to improve your reputation and attract more of the best talent to your business.
Recognition can lead to greater business growth
When your employees are feeling engaged and motivated in their work, their productivity naturally increases, leading to greater output that can drive business growth and help you achieve much larger organizational goals.
Research conducted by Deloitte shows that a 15% improvement in employee engagement can lead to a 2% increase in company margins.
By continuing to celebrate your employees’ successes as a team, their engagement and productivity will only improve more over time, further contributing to an increase in your bottom line.
Recognition paves the way for more creative ideas and innovative thinking
When your employees feel valued, they will be far more likely to come to you with new ideas or schools of thought that may not have been previously explored.
This level of creativity and innovation could potentially lead to new solutions to ongoing business or customer challenges, as well as new products or services that differentiate your organization from your competition.
Imagine that something as simple as recognizing an employee’s efforts could lead to new ideas that revolutionize your industry forever.
Recognition encourages employees to learn and develop
Employees who don’t feel recognised or rewarded for their achievements typically have little motivation to improve their knowledge or upskill in their role.
On the other hand, those employees who do feel like their efforts have been celebrated are much more likely to want to learn more and develop their skills so that they can become better at what they do over time.
This then leads to more highly skilled workers within your team, collectively working to increase productivity and elevate your company to new heights.
Recognition fosters a more positive working environment
There are several elements that go into cultivating a positive working environment.
When you take the time to celebrate your employees’ successes, you’re also helping to nurture each of these elements, such as:
- More trust in your leadership team
- A greater sense of purpose in the work your employees are doing
- Healthy competition between employees – which in turn improves performance
- Better communication between individuals, teams and management
- Higher overall job satisfaction
Of course, one of the best ways to measure the success of your working environment is through employee feedback.
Fortunately, there are innovative HR tech platforms like VibeCatch that make it easier for you to capture this information and make better business decisions.
VibeCatch enables you to understand what inspires your staff to achieve success
In the digital age, data is king, and regularly measuring your employee engagement and satisfaction levels can equip you with valuable insights that can enhance your work environment for everyone.
At VibeCatch, we offer the ideal way to gain greater transparency and visibility over how your team is feeling so you can foster healthier relationships, improve motivation and reduce the turnover of your best employees.
Built on science, our platform collects frequent and anonymous feedback from employees and delivers an automatic and clear breakdown of the results to help you make smarter decisions for your people.
What is VibeCatch?
VibeCatch is an HR platform based on 15 years of proven research, offering you the opportunity to make a genuine difference and understand the impact that your working environment has on your staff.
Through VibeCatch’s QWL Polls, Pulse Polls and 360 Feedback Polls, you can uncover hidden staffing opportunities, correct issues and address areas of improvement for both employees and management within your organization. Speak to our team today to see a live demo.