So many companies fail to realise the importance of workforce engagement, and of rewarding hardworking staff for a job well done. Contrary to many Managing Directors’ beliefs, a basic salary isn’t always enough. We’ve all been there when you’ve worked so hard to meet a deadline, giving blood, sweat and tears to your job and at the end of it all you earns is your own feeling of relief. There was no recognition from the managers and executives above, not even a thank you. Unfortunately, this will be a familiar situation for too many people.
High morale = high productivity /
When you recognise someone for their great work, chances are they’ll carry on producing more of the same. On the contrary, if an employee feels like their effort hasn’t been appreciated, morale will drop and they’ll likely lose motivation. Its classic behavioural psychology, but it can make a big difference to your team’s efficiency – after all, a happy team is a hardworking one.
It’s not just about motivation, though. Your recognition should be seen as feedback, and it’s this feedback that helps your employees determine your expectations and how to meet them. With this knowledge, they’ll know where to direct their newfound motivation.
Reducing staff turnover /
Morale is also the single most important factor in keeping staff turnover (which can be a real profit-drainer) to a minimum. If your staff are ambitious – and you should hope they are – they’ll start thinking about other opportunities elsewhere as soon as their current role starts to make them feel unhappy.
If you can keep your workforce feeling fulfilled and engaged, they’re more likely to remain loyal. The savings for you come from not needing to go out and start the recruitment process again, and then not having to constantly train new staff.
How to recognise /
The benefits of employee recognition are there for all to see, but how do you go about implementing it into your business? There are a few ways you can do this:
Financial rewards can be extremely effective, as long as you don’t overdo it. Think about the performance of the wider team over a long period, as opposed to individual efforts. If company targets are met, it’s because of your team’s hard work, so mark it with a small bonus.
As for individuals, it doesn’t always have to be about money; sometimes a “thank you and well done” is enough to let someone know their effort has been noticed. In larger companies, remembering people’s names and details about their private lives is another small but important gesture for management to make – show that you recognise these people as valued team members, not just numbers.
Going beyond this, though, make sure you’re conducting regular pay reviews for everyone – few of your employees will be happy to give their all if they’re earning the same salary year after year.
At SF Recruitment we support our employees through their whole journey with our business from offer to well into their career development and beyond. We really feel that employee recognition is very important and want to ensure our employees are looked after, hence why we have been positioned in the Sunday Times Top 100 Businesses to work for 2017 for the 3rd year running.
Aside from offering the best remunerating in the industry and an uncapped and highly rewarding bonus scheme, we run many staff incentives and offer employee ‘thank you’s’ as a recognition for our employees hard work. Our ‘thank you’s’ vary from meals out, vouchers and weekends away on luxury holidays and last year we even took every member of staff to Majorca for an all expenses paid long weekend and we are going to do the same this year!