It’s tried and proven – positive recognition of your employees accomplishments work to increase retention, productivity, work environments and overall profit.
Here at the Wish Group it is something very important to our culture and something that we have formally built in throughout the year. Four times a year we hold company-wide events to review the successes and goals for the quarter ahead and each is concluded with an awards segment. Definitely one of the most enjoyable parts of the day for both employees and management, it is a great time to showcase the efforts of team members in a public forum where other team members can also hear of the achievements of co-workers.
If you’re still working on building your rewards and recognition program there are a number of ways you can take a moment to let your valued team know what they mean to the organization in the meantime-all of which don’t cost you anything additional.
In The Moment Mentions
Meetings are meant to discuss progress, projects and issues overall. When an employee uses this forum to step up, make a suggestion or take initiative, it opens the door to you as the business owner to show immediate recognition. It may not be monetary based, but telling someone in front of their peers and in some cases managers that they had a great idea or that you are on board with their thought process, can do wonders. Not only will this make this person’s day but also show others in the organization that people are listening and appreciating their work and dedication. This in turn can lead to others also being motivated to do more and lead to higher productivity and new innovation.
You’ve Got Mail
If you’re not in the meeting and hear of an achievement made by someone on the team, or receive positive feedback from a customer or partner, use email to send along the pat on the back. When you’re opening up a mail box full of messages asking for answers, demanding delivery times, and requesting meetings, a positive email commending you on work well done provides a huge boost to employee moral while providing them with some additional work related documentation for their portfolios and resumes.
Announce It
Each month we also have an inter-office newsletter which provides a short update on the operations of each of the companies under the Wish Group for everyone in the company to read up on. Each business owner is encouraged to mention the efforts of a team member that went above and beyond or perhaps had a great sale. This has worked to create two positive changes in the company. One, employees know that they will get the immediate recognition for something they’ve achieved because they see it in action, and two, it has also created further dialogues amongst team members of different companies as they congratulate them on the task accomplished or new account won.
Overall, it doesn’t take a business guru to make the argument for positively reinforcing their staff but it does take a strong business owner to understand the importance for initiating, nurturing and growing this program throughout the organization for further success.
Best of luck keeping your stars shining!
Frank.
Wonderful indication Mr. Frank.
Infact, today’s workforce is a mosaic blend of people of different ages and at different stages of their career. Greater employee diversity has become the norm. Today, each employee has a unique set of interests and influences, yet they all want to succeed and be appreciated for their efforts. It comes as no surprise that today’s companies need multiple employee engagement strategies to keep their diverse, lean workforce motivated. It is difficult to motivate everyone equally. Recognition and rewards programs are a good strategic business tool that can offer a variety of appreciation vehicles to keep a company on track and employees working together toward their common business goals. However, In today’s challenging and globally competitive economy, companies must achieve maximum ROI in their people by boosting corporate performance to a level that generates competitive advantage. It is easy to track the results of incentive programs and assess ROI using today’s technological tools.
Coming to engagement factor, where engagement is critical to drive business in this – and any – economy. In the end, a commitment to employee recognition and rewards coupled with an investment on the part of company management can generate a significant payoff in performance. As companies lose valuable talent to the forces of recession, managers must keep in mind that the remaining workforce may be discouraged, further impacting productivity at a time when employees need to be more engaged than ever. Engaged employees can help lift individual business performance and, by extension, the economy. This is why savvy companies turn to recognition and incentives to contribute to the vitality and well-being of the organization and its people – especially today