Studies reflect that only 1 in 3 individuals are engaged in the workplace.
This statistic is concerning as companies hone in on culture, engagement and retention. Culture and engagement are closely connected and have a large impact on both recruitment and retention rates.
Employees who are engaged at work, also care about their job, the success of the organization and can envision themselves growing within the company. While financial incentives will always drive some level of engagement, many employees would prefer a title promotion or recognition for a job well done.
94% of satisfied employees have one thing in common – recognition.
Below are 4 ways to recognize employees and improve engagement:
1. Provide Instant Gratification and Recognition- In a Gallup workplace survey, data revealed that the most memorable recognition came from an employee’s manager (28%), a high-level leader or CEO (24%), the manager of the employee’s manager (12%), customers (10%), and lastly by peers (9%).
Some simple ways to get started recognizing an employee’s hard work include: weekly one-on-one acknowledgement of a job well done, shout-outs on the company’s internal communication platform (eg- slack), train managers on effective tactics for instant recognition of an employee’s accomplishments. Don’t wait until quarterly or annual reviews – little wins add up and make a big impact on employee satisfaction.
2. Reward with Relevance- Accolades should vary based on the accomplished task. For example, recognition for a small task may be a shout out at a team meeting; whereas for a large task a company-wide email may be sent out to share the success and overall impact for the company. Take the time to consider various rewards and recognition for differing accomplishments.
3. Associate Recognition with Core Values- Teamwork, Honesty, Integrity, Leadership, Passion, Learning- whatever your core values might be, recognition should be tied to them. At select “all-hands” meetings have employees discuss what they’ve accomplished and vote for the achievements most aligned with your company values. Celebrate those individuals, whether it be with a gift card, special dinner or some other reward. Recognition amongst peers and leadership validates hard work and encourages employees to continuously strive for success and keep engaged in their day-to-day work.
4. Ensure Recognition is Inclusive- It’s great to recognize employees on the executive and managerial level, however don’t overlook the work of ALL employees,. Every member of your team makes some impact on the organization. Ensure everyone feels the love- if they do, they’ll stay engaged and happy.
While monetary compensation will always be one of the top ways to improve engagement (everyone loves a bonus), it doesn’t always do the trick to engage and retain employees.
Recognition – big or small, goes a long way to improve your corporate culture and overall employee satisfaction.