With so many rapidly growing and fast-paced businesses across the globe it is easy to miss your employee’s hard work and commitment. Over 60-70% of the population on average spend more than 37 hours a week at work and 51% of employees are not satisfied with the recognition that they receive.
Employers providing praise and recognition of their employee’s can have a real positive impact on an employees performance, engagement and overall attitude towards business.
- Increased individual productivity – the act of recognising the desired behaviour increases the repetition of the desired behaviour, and therefore productivity.
- Higher loyalty and satisfaction scores from customers.
- Teamwork between employees is enhanced.
- Retention of quality employees increases – lower employee turnover.
- Lower negative effects such as absenteeism and stress.
Do company benefits and recognition, come under the same category? The answer is no!
Company benefits are offered to every employee not as an individual. Company benefits are recognised as “work perks” such as; gym memberships, car allowances, healthcare policies, social outings, free beverages etc. These are great to keep employees on board and certainly, a way to win over if you are recruiting, however, recognition is an individual reward to appreciate one person’s hard work that they bring to your the business daily.
Whether it be an individual contribution for achieving a career milestone, exceeding a performance goal, or saying “thank you” for a job well-done let’s speak up and recognise the commitment of your workforce.