How Important Is Employee Reward And Recognition?

Employees Clapping

Think about how much you enjoy it when somebody tells you you’ve done a good job. It feels pretty good, doesn’t it? Even if you’re one of those people who can produce quality work at a high rate without copious amounts of back patting, we’re going to hazard a guess that you still appreciate it when somebody communicates that you’re appreciated.

Strong employee reward and recognition is a key part of being a good manager. Read on to get a better idea of what this is and some of the best ways to go about implementing it into everyday management.

What is employee reward and recognition?

Employee reward and recognition is the process of telling your workers that they are doing a good job. This action can take many forms and be carried out in many ways, some of which are better suited to certain types of businesses than others.

Why is employee reward and recognition important?

Making sure your employees know that they are appreciated has a variety of benefits, including but not limited to:

  • Improving overall environment

Employee recognition can just flat out make people feel better about themselves. Being recognised for hard work will put a smile on a person’s face, therefore making him or her happier and creating an overall better workplace. Essentially, happy workers are more motivated, more engaged and more inclined to do better.

Unhappiness can lead to workers chucking sickies and looking for excuses to bolt right when the clock hits 5. Happy workers will take more pride in their work and strive for the dangling carrot that is recognition.

  • It says a lot about you and the company

You don’t have to be best friends with everybody in your team. In fact, that might not be a great idea if you hold a management position. But you do need to have a strong professional relationship with them, which can be enhanced by cordiality. Doling out employee recognition paints you, and the company you work for, in a positive light and proves that you care about employees and the work they’re doing.

  • It makes a lasting impression

Telling somebody thanks when they complete a task for you is a great habit to get in to. But going the extra step and recognising what it took for them to complete that task leaves a much longer-lasting impression. Making them realise that you appreciate what they’ve gone through to deliver will also make them realise that you care about their daily grind.

Ways you can reward and recognise

Employee Recognition Present

One of the best things about employee recognition is that it is easily adaptable to companies of different sizes and means. Check out the below list to find some great ways, from simple to more complex, that you can share your appreciation for your employees.

  • Unprompted shout-outs

As we mentioned, sending thank-you emails to workers is a great way to show them you care. But it’s just as easy to send an email to the company, or perhaps the department if you work in a larger corporation, in an effort to shout-out individual workers or small teams. You’ll fill them with a sense of pride and also most likely prompt emails or other forms of congratulations from other colleagues that read the communication. However, make sure you don’t overuse this tactic, as it will start to mean less and less.

  • Employee awards and rewards

A great tactic is recognising employees in department or company-wide meetings every month. Think about giving vouchers to the best employee each month or quarter. Even those that don’t win can be lauded with praise in front of their peers. Other employee awards include goal-related recognition. Throw a party if your sales team hits a huge goal, or simply treat team members to lunch or dinner one day. Communication is key when it comes to leading your team, so don’t be afraid to get some input from your workers when it comes to employee rewards.

  • More skin in the game

When money talks, people listen. Implementing a bonus scheme is one of the most tried and trusted ways to use employee reward and recognition programs to motivate workers. Set a target for them to hit that unlocks bonuses. This gives them something tangible to work toward. Just make sure you don’t set it too high or too low, as doing either can be detrimental to effort levels.

Employee incentive and recognition programs are fantastic ways to boost employee engagement and motivation. The combination of the warm, fuzzy feeling of being appreciated and tangible rewards can really light a fire under workers. Check out the Saxons blog today for more great leadership tips.