Due to our digital world, we’re now used to getting everything immediately. Developments in technology mean we can finance our car online, rent films through our TVs, order takeaway food on an app and switch our heating on using our phone, to name just a few examples. We aren't prepared to wait for many things anymore. In the workplace, this means that annual reviews alone won’t push employees' motivational buttons and need to be supplemented by more instantaneous forms of recognition.
Millennials have grown up getting what they want when they want it. If you employ younger staff, you'll know they expect continuous feedback, development and reward and will be drawn to employers who can deliver this for them.
Our new programme, Recognition, lets employees and managers give and receive public praise immediately. There's no waiting around for month end meetings or newsletters, it can be done as soon as the action has taken place and be out there on your social platform for everyone to see.
You don't have to wait to introduce Recognition either. It's been designed to be delivered extremely quickly and without any hassle for you. Once you've made the decision, we'll get it implemented for you right away.
Everyone likes to feel like they’re doing a good job. Giving people a pat on the back for going above and beyond their normal day-to-day goes a very long way towards keeping employees engaged and loyal. Recognition doesn’t always have to be financial. A thank you can go a long way.
Research has shown that employees committed to their organisations put in 57% more effort than disengaged staff and are 87% less likely to leave. A study has also revealed that companies with highly engaged workforces outperform their peers by up to 147% in earnings per share!*.
For HR managers, introducing a Reward & Recognition programme may seem a daunting and potentially expensive prospect but implementing the right scheme is an excellent opportunity that won’t blow your budget. They are now essential for retaining employees and can transform performance and raise your personal profile within the business.
The benefits of Reward & Recognition:
- You’ll see an increase in employee engagement which will lead to better retention rates and more motivated staff.
- You should be rewarding actions that represent your goals. In many organisations, employees don’t understand what these are and certainly don’t see how they fit in with meeting them. Your new programme will give your team clarity on this and get everyone working together.
- When you recognise an employee, you’re reinforcing the behaviours you want to see, encouraging these to be repeated by the individual and their colleagues so that you’re developing an organisation that lives and breathes its values.
- Peer-to-peer recognition empowers individuals and encourages a positive, supportive culture.
- Team rewards massively contribute towards getting that team to work together, form bonds and really perform.
- Your employees will become advocates for your business meaning as well as wanting to stay with your organisation, they’ll encourage friends to apply there too, making recruitment much easier.
As well as being quick to get up and running and simple for you and your teams to use, Recognition is also a much less costly option than some of the more complicated, in-depth options in the market. We’ll implement the programme alongside your employee benefits system and with both of these working for you, you’ll start to see positive results with increased productivity and more smiley faces in your workplace!
To find out more, click on the link below, call us or drop us an e-mail and we’ll run you through our exciting new system.
*Source: Forbes, Employee Engagement vs Employee Experience