Did you know that disengaged employees are 18% less productive than others? How often do you show appreciation to your employees?
Start recognizing and rewarding your staff to keep them motivated. You can share positive feedback, offer rewards, and celebrate their achievements. Are you wondering how all these can help your company?
Read on to learn how recognizing and rewarding employees can benefit you!
1. Boost Productivity
Recognition creates outstanding work.
Unmotivated employees tend to distance themselves from work. However, appreciating their work motivates them to focus on reaching their goals. If you want them to work with positive energy, compliment and reward their excellent work.
When you continue these practices, notice how they keep doing their best. Acknowledging their contribution motivates them to repeat and improve what they do. Based on a report, 92% of employees repeat actions recognized by their managers and bosses.
They invest and put more effort into the work they take pride in. As a result, they become more efficient with their energy and time to achieve their goals. Motivated employees ensure to give high-quality outputs, which benefit the company.
2. Improve Engagement
Are you aware of the effects of poor employee engagement? Employee turnover increases and toxicity spreads when disengaged staff work with you. As a consequence, poor employee engagement harms company performance and sales.
This is where recognition and rewarding employees come in. As simple compliments mean you notice their hard work, they strive to do more of them. The more you appreciate your staff, the more engaged they become at work.
With high employee engagement, an employee initiates, fosters trust, and works well. They suggest ideas for improvement, share feedback, and take more responsibility. Further, high engagement prevents unfavorable outcomes for the company.
To keep and improve employee engagement, start rewarding your staff. You can celebrate their accomplishments, offer incentives, and give gifts.
3. Reduce Employee Turnover
From posting recruitment to interviewing applicants, the cost of hiring is expensive. When a staff member quits, all these efforts go to waste. Further, the effect comes in two-fold as the turnover costs a lot.
Employee turnover is the number of workers left or removed and replaced with new members. For the human resource department, this is extra work and expense. With this, companies strive to reduce their employee turnover.
To cut down on costs, come up with strategies to keep employees. One way to keep them working with you is by showing appreciation for their work. You can incorporate a reward system to show you value their contribution to the company.
Employees stay in an organization that values them. Recognition and rewards build their morale. If you want to continue working with valuable talents, use well-planned retention strategies.
4. Ups Employee Happiness
Although some work from home, a regular employee spends more than 40 hours working in a week. If you add it all up, it totals more than 2,000 hours of spending time with their colleagues. With the workload and poor atmosphere, there is no wonder employees get grumpy.
As an employer, you must strive to provide an enjoyable work experience for your staff. One solution to that is by bringing them happiness. Recognizing and praising them are some ways you can make them happy.
In psychology, the dopamine produced by the hypothalamus works for your happiness. Moreover, the removal of depressed feelings. When a person recognizes one’s effort, the hypothalamus produces more dopamine, uplifting their mood.
A happy employee becomes motivated, engaged, and satisfied with their work. Moreover, it boosts their morale. To keep your staff happy, show gratitude and allow them to express their appreciation.
5. Creates a Positive Workplace
Another positive impact of rewarding employees is it creates a positive workplace. Emotions can spread like a cold. Experts call it emotional contagion.
This happens when one mimics the observed behavior of the people around them. Thus, what is the correlation of emotional contagion in creating a positive workplace? Note that praising a staff member can make them happy.
As you recognize their efforts, the worker considers the company part of their life. A person radiating positive energy creates a healthy and joyful workplace. Then, everyone starts to feel good and motivated to work.
When a company has a positive culture, employees put extra effort into their work. For them, it’s delightful to associate them with a healthy workplace. A team with motivated and satisfied members creates a positive environment.
6. Beneficial in Recruiting More Talents
Competitive pay and benefits are not enough to attract new talents. Apart from the salary and incentive programs, people check the work culture within the organization. If you want to allure talents, implementing recognition programs is essential.
A rewards program doesnt only boost employee morale; this reflects an optimistic outlook for the company, too. As happy employees create a positive workplace, they attract more applicants. When people see you incorporate an appreciation culture, hiring becomes easy.
Showing a great synergy between employees convinces people to apply to your company. They start to believe that its worth it to make time to apply and work with you. Further, it allows you to work with skilled workers who can add value to the company.
7. Better Customer Experience
The management team caters to many responsibilities and cannot tend to all situations. With this, your employees are your frontline. As a result, customers create an impression of your business based on how the staff act.
If an employee displays poor performance, this creates a bad review for the customer. Through the spread of the word, a single negative comment can make the business crumble down. To avoid such incidents, ensure your employees present themselves well.
With a recognition-rich culture, you can motivate your staff to work hard. Rewarding them with gifts, awards, and praises are effective ways to inspire them. When employees feel appreciated, they put more effort into delivering their responsibilities.
You can count on them to give excellent customer service.
All the Good Things About Rewarding Employees
Recognizing and rewarding employees for their hard work gives you more profit than costs. A simple compliment can keep them motivated to produce better outputs. If you want to continue working with valuable talents, take time to recognize and reward them.
Givenly believes that employees are key to a successful business. We can guide you on how you can show appreciation to your staff. You can reach out to us here for more information on our services!