Have you ever completed a task that you felt like you did a great job on, but your boss didn’t recognize or acknowledge all of your hard work? We’ve all been there and it’s not a good feeling, not that we expect to be praised for doing our job, but a little appreciation every once in a while feels good and goes a long way! As a manager, entrepreneur, or someone who runs an organization it is important that we don’t forget to appreciate and recognize our employees! Here are a few reasons why employee recognition is important and how it can grow your business.
- Employee Retention: One of the biggest reasons that people leave their job is because they don’t feel recognized. When people receive recognition it motivates them, makes them feel apart of their organization, and increases their desire to stay with their organization. A little recognition goes a long way with employee retention, saving you the high costs associated with employee turnover and rehiring. Try recognizing one of your employees or teammates who are performing well this week, and little by little your employee retention rate will increase.
- Productivity: Forbes reported that employees who receive recognition are 52% more productive than employees who do not. Your ability to recognize employees and their accomplishment lead to higher levels of motivation, which motivates them to be more productive. Productivity will not only grow your business but will help develop your employees. Productivity, employee drive, and motivation will soar after making employee recognition a priority.
- Employee Morale & Job Satisfaction: People like to be recognized, so it’s no surprise that when people receive recognition they are generally more happy, more satisfied and more positive within their job. On the other hand, employees who do not receive recognition tend to feel disconnected to the organization, have low morale and are highly dissatisfied with their job, which can lead to a host of issues like not showing up for work and poor work performance. So, a little bit of employee recognition can go a long way with employee morale and job satisfaction.
- Team Culture: By implementing an employee recognition program, or by making it a point to recognize your employees, you are creating a culture of recognition. This will increase trust, strengthen your team, and increase team cohesion within your organization. This culture of recognition will go far beyond your team and will be implemented by your employees when their dealing with clients and customers, so your company and team culture will be strengthened by employee recognition.
Remember to keep a healthy balance of recognition within your organization, to only offer recognition when it’s earned, and to be genuine when giving recognition. We hope these tips have inspired you to prioritize employee recognition within your organization!
“Leaders don’t look for recognition from others, leaders look for others to recognize” –Simon Sinek