Employee recognition programs are nothing but employer initiatives to reward the workforce for achievements, work anniversaries, and important milestones on the professional front.
However, most employee recognition programs are ineffective because many employers just look at it as a way to spend money on their employees and expect huge returns on their investment. While this is partly true, it is essential that such programs properly convey the right message.
Incentives given out for merely meeting job expectations would result in the company losing money. Alternatively, employee morale can deteriorate if the performance standards for rewards are set too high. Therefore, the program must be properly designed. Providers like Power2Motivate have the right solutions for you.
Here are some of the characteristics that an effective employee recognition program should have.
Don’t limit employee recognition to just staff or team members. Follow a formal yet comprehensive program that recognises employees on a common platform like a company wall, company events, annual day events, etc. Also, it doesn’t have to be just exceptional performance.
Include other parameters, like attendance or punctuality, leadership, extra efforts, both small and large, towards the organization’s benefit, work anniversaries, etc.
Reliable Performance Measurement
Have genuine, unbiased ways to measure employee performances and make sure these are communicated in writing to all the employees in the organization. Employees will not react favourably to rewards and recognition programs if measurement standards are not adequate or properly known.
Set well-defined performance standards based on a thorough analysis of historical performance data that is both realistic as well as challenging.
Every reward and recognition program should be defined by specific guidelines to ensure that programs run smoothly and that all employees are treated fairly.
No Wait To Recognize Your Employees
There is no need to wait for a special day to appreciate or reward your employees. You can applaud them for their excellent work or thank them for their extra effort any day and every day.
Of course, the formal reward function can happen when it has to happen, but as a team leader or supervisor, you can always laud them for great work with a thank you note, a small coupon, a team lunch, or only an email appreciating their efforts should suffice.
Different Types of Rewards
The rewards don’t have to be monetary. You don’t have to give a cash incentive or a salary raise to reward their contribution.
Simple gestures like a small token or memoir on the occasion of their work anniversary, team lunches, gift vouchers, and other benefits count too. In fact, a comprehensive rewards and recognition program should be a combination of monetary and non-monetary benefits.
Recognition for Years of Service
Celebrating work anniversaries is fine, but if somebody has dedicated a considerable number of years of their career to the organisation’s service, they need recognition. The reward can be any, but this kind of recognition will foster a sense of belongingness in the employees. It shows they matter to the organisation and celebrates a career in a meaningful and memorable way.
Employees are reckoned as the greatest assets of your company. Therefore invest in them in the right, you’ll reap the rewards for a lifetime.
For help with developing and managing employee recognition programs for your organization, providers like Power2Motivate are the answer!