Employee Recognition Programs

Leverage the Great Resignation With Employee Recognition and Reward Programs

The Great Resignation is gaining speed as employees re-evaluate their priorities, desires, values, and how they are treated at work.  

Wise employers are leveraging the disenchantment to find better aligned, higher-value, and more productive employees that are a better fit for their culture, while releasing those who are better-off working elsewhere.

These employers are also investing significantly towards improving their approach to recognizing, rewarding, compensating, and giving opportunities for personal and professional growth because they understand that happy, satisfied, fulfilled, and appreciated employees deliver better outcomes and, as a result, more profit.

Since 1996, WIN has been creating programs that nudge employees to behave in ways that support the organization's vision, core values, purpose and financial results in ways that are good for the company, employees, planet, community, and customers.

What is Driving the Great Resignation?

It's a combination of world events, such as the pandemic and climate change -- and how they have changed our lives -- as well as employees becoming disillusioned with leadership, supervisors, stress, workloads, inequity, ethics, business practices, their personal priorities, and generally feeling unappreciated and under-valued.

According to the HBR, the people who are driving the resignations are mid-career employees -- employees who are in their prime for growth and potential.

Smart employers can improve their business performance by retaining more of their good employees and by replacing those who aren't the best fit for their needs.

One way to retain the employees who are valuable and to attract employees who have the potential to be as valuable, if not more valuable, is through formal and informal recognition programs.

What Is Employee Recognition?

Employee recognition is about recognizing employees for what they do well.

It's about giving them credit for their accomplishments and achievements. I

t's about celebrating their success.

Employee Recognition is all about acknowledging the work and accomplishments of the individual and team members.

It's really about connecting with your employees and your organization.

It's about creating an emotional connection.

It's about supporting the work you do and staying authentic to the company's values.

It also involves art and science.

Employees should be recognized for their hard work and accomplishments.

They should feel appreciated, respected, and even love (depending on your organization's culture.)

Why Employee Recognition Matters

Employees need to be recognized by their bosses or coworkers. Recognition can help employees feel valued and appreciated.

Employees want to be recognized by their bosses. This is why employees perform better when they feel appreciated. Managers should make sure to recognize employees' efforts and achievements.

Recognition culture is very important for creating an environment that motivates employees to be their best. Employees want to know that they are appreciated and valued by their employer.

Great Place to Work surveyed over 1.7 million employees and found that recognition boosts morale, increases productivity, and improves retention.

People who feel recognized at work are more likely to believe that promotions are fair, innovative thinking is embraced, and people here are willing to do anything.

The most memorable recognition comes most often from an employee's manager (28%), followed by a high-level leader or CEO (24%), the manager's manager (12%), a customer (10%) and peers (9%). (gallup.com) 17% cited "other" as the source of their most memorable recognition. (gallup.com)

What Are the Benefits of Employee Recognition?

The most important benefit is increased engagement, which leads to higher performance and better results. Employees who feel appreciated and valued are more likely to stay at their jobs longer, perform better, and take ownership of their work.

Employee Recognition Ideas To Show Staff Appreciation

There are many different types of recognition programs available. Some companies offer monetary rewards, others provide gift cards or discounts, and some give out certificates or points that can be redeemed in an awards catalog.

One way to recognize employees is to find something that supports your vision, core values, targets, and culture, which the employee enjoys doing and then reward them for it. 

For example, if someone has shown initiative by taking on extra responsibilities, then they could be rewarded with free gym passes, if they enjoy working out. If they've demonstrated leadership skills, then they might receive a bonus or opportunity to lead a project.

In our Blog, we will continue to add resources, and ideas to improve your business performance and in our Marketplace we will continue to source vendors who are excellent at delivering the pieces you need for an outstanding recognition program.

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