There are many employee recognition programs that show appreciation. These programs allow business owners to strengthen company culture as well as increase engagement and talent retention. Many of these owners maximize the value of recognition programs by understanding how to successfully implement them and calculate their ROI. As a business manager, consider ROI, price, and your specific use case to determine the best employee recognition program for your business. Read on to discover the best employee recognition program ideas to show appreciation.
Peer recognition is one program idea that shows appreciation. In fact, this form of recognition has a more positive impact on financial numbers than manager-only recognition. By empowering employees to recognize the achievements of their peers, you build an accessible culture of recognition that scales as your business expands. Improving peer-to-peer recognition and relations like this strengthens company culture, improves engagement, and reduces turnover. This way, a self-sustaining culture of appreciation is built for your employees. Surely, peer recognition is one program idea that provides scalable solutions that reduce turnover.
Private recognition also provides employees with feelings of appreciation. Though a little less so than peer recognition, private recognition ideas also have a tangible impact on financial results. Maximize your business’s recognition and appreciation rates by combining the two ideas. There are several ways of displaying appreciation to your team members, such as hiding appreciative notes around their workspace. Handwritten notes, individual thank you meetings, and gifts such as flowers or chocolates are also great recognition ideas. Absolutely, privately recognizing employees for their hard work incentivizes them to maintain their level of performance.
Consider the rate of recognition besides the methods of appreciation. Frequent recognition often leads to fewer turnovers and stronger business results. Since employees work every week, failing to provide timely, regular feedback often leads to them feeling undervalued. Therefore, celebrate smaller victories and achievements in addition to huge milestones. In fact, 71% of engaged employees work for businesses that recognize them at least once per month, no matter the achievement. You can use a goal tracking dashboard program to track your employees’ achievements. Of course, frequent recognition and praise keeps employees engaged and feeling appreciated.
Work-Life Balance Emphasis
Emphasizing work-life balance throughout your company demonstrates that your employees are valued even outside of work hours. Everyone is different, so work-life balance means different things to different people. Therefore, discuss how your business can improve work-life balance with your team to determine the best program for your business. Often, providing work from home capabilities and flexible hours enables employees to make the best of their work-life balance. Certainly, emphasizing work-life balance provides your employees with company value in their personal lives.
Events & Milestones
Celebrating events and milestones is one of the most common methods of showing appreciation to employees. Many events and milestones such as holidays and employee birthdays should be celebrated to demonstrate employee appreciation. Project completions, employee reviews, and promotions are also great events to celebrate. This way, employees feel more rewarded for their hard work. Additionally, celebrate employee service milestones such as their anniversary with the company to provide that employee with recognition and value. Definitely, celebrating various events and milestones in employee careers shows a great deal of appreciation for their hard work.
There is a myriad of employee recognition ideas that show appreciation. One such idea is peer recognition, which provides an appreciation solution that scales with your business. Combine peer and private recognition to maximize the impact of both on employee engagement and turnover rates. Maintain these impacts and better rates by providing frequent, regular recognition, as well. Talking to your employees about how to employ a good work to life ratio shows a great deal of recognition, and demonstrates that they are valued outside of working hours. Finally, celebrating events and career milestones incentivizes employees to work harder towards their goals. When searching for the best employee recognition program ideas, consider the ideas described above.