7 great reasons to give out employee recognition awards
Did you know that many employees quit their jobs because they don’t feel recognised and appreciated? Sure, you might say “but they get paid”. However, employee recognition is not just about compensation.
People who feel valued and recognised for great work tend to stay on for longer. This is because they feel that they and their work matter; that they’re contributing.
And those who don’t? Well, 22 percent of them have probably interviewed for another job in that last 90 days. You should be alarmed by those numbers because employees who do great work are often in high demand.
Ever heard the saying “people don’t quit their jobs. They quit their bosses”? Well, that’s the case most of the time. the good news is this can be remedied. And the benefits of doing that are incredible. These include:
Improved Happiness Index
You know the saying “happy wife, happy life” right? Well, it applies here too. Only in this case, it’s “happy employee, happy company”.
In fact, a superior’s relationship with their employee can be compared to a regular one. The only difference is this is professional.
In regular relationships, people start looking for options when they don’t feel valued. It’s the same with your employees. They need to be recognised and given due credit.
Otherwise, they’ll become jaded and disillusioned. These two feelings when left to fester will cause even the most loyal employee to seek greener pastures.
Boosts Employee Morale
Employee recognition awards do a lot for company morale. It also does wonders for company-wide productivity People like seeing their names and faces on that wall. Which means they’ll work harder to become a recipient. It doesn’t to be in the form of awards alone.
Something as simple as a medal or trophy like those available at www.trophiesplusmedals.co.uk can work. It doesn’t have to be complicated or outlandish. Just make sure that the person feels valued and that others know it too.
Employee Recognition Improves Retention Rate
Do you know why we all loved watching “The Office” tv show? It was because it was relatable. It didn’t matter that they weren’t a Fortune 100 company.
All that mattered was that they loved their jobs, their boss and their workplace. That goodwill and feeling grew, making the place a big happy family for everyone who worked there.
People loved coming to work and working there. As a result, everyone stayed, and the company had little or no turnovers.
Of course, that was idyllic. But, your workplace and company can have a similar feel. While there are a few factors that will influence this, employee recognition is definitely top of the list.
So, What Should You Do?
As a CEO, manager, supervisor or team leader, you need to find ways to make employee recognition easy. It’s cheaper, and benefits everyone, really.
When people feel valued, it pushes -them to want to do more for you and the firm. Listen, most employees will brave the storm, take a pay cut and even stay on for as long as possible if they feel valued.
So, treat them right, pay them well, praise them when they do a great job, and show them you value them. You may not always agree, but they’ll always think of you as a fair boss.