Employees or staffs cost businesses an estimated 550 billion dollars last year in the United States alone. Employee recognition can fix that.
It’s no coincidence that many of the world’s most successful organizations use employee recognition programs. When used correctly, they can enrich company culture, increase employee engagement, reduce turnover, and provide a fulfilling employee experience.
What is staff recognition?
Staff recognition is the open acknowledgment and appreciation for someone’s contributions to an organization. This exercise must be happening frequently and visibly. But, you must be wondering why employee recognition is so important?
The staff recognition program is important because when companies prioritize having a culture of recognition, they quickly gain a competitive edge over other organizations. The staff recognition program is powerful and can improve staff engagement, reduce turnover, increase productivity, boost morale, build purpose, and encourage the staff.
How to start a staff recognition program?
You can start a staff recognition program by developing a case for recognition. You will have to get your team recognition. Start by building a case for a recognition program by tying it to your business objectives.
This is the time to crunch some numbers. Think about the cost of the recognition program and the savings such as time saved, increased productivity, and especially reduced turnover. Build a team of champions as this is not the time to do it alone. Look for fellow team leaders to help conceptualize, promote, communicate, implement and participate in your organization’s new staff recognition program. Aim to get buy-in from key stakeholders and help them feel a sense of ownership. Understand the characteristics of effective recognition.
Building the characteristics of staff recognition program
Before jumping into a staff recognition program, you will want to review the characteristics of effective recognition to set your team up for success. Recognition is most effective when it exhibits the following characteristics:
- Inclusive and,
Best practices for the staff recognition program
Once your team is sold on recognition, you will want to tailor your program to your organization by following best practices. Start by defining what success looks like at your organization, what type of behavior will be rewarded, how desired behaviors should be rewarded, how often the recognition should occur, and who recognition should come from.
Traditionally, recognition has been given top-down by managers to their direct reports. However, 360 recognition coming from all levels is the most effective; in fact, peer recognition is 36% more likely to impact financial results than managing our only recognition positively.