No one wants to toil away in obscurity. And while all of us know this, many employers seem to think that their workforce will be content to do a great job without ever being recognized for it. As counterintuitive as it may seem, neglecting employee recognition is a problem in many workplaces. To illustrate why it needs to be a real and regular priority, we have highlighted some of the true benefits of employee recognition.
Rely on a More Engaged Workforce
Engaged employees are more productive, innovative, efficient, and collaborative. In short, they are better employees. Recognizing individuals and groups for their accomplishments contributes directly to levels of engagement because employees have a real incentive to work harder and smarter. You can’t ask people to be better at their jobs without offering something in return.
Increase Your Return on Investment
Recruiting really is a dollars-and-cents equation. The amount of resources that you invest in recruiting, training, and retraining individual employees can be significant. Making the effort to recognize your employees through either expressions of gratitude or rewards/bonuses helps you recoup your recruiting investment faster. For the reasons why, just refer to the previous point.
Keep Your Customers/Clients Happy
Individual employees serve as the liaison between your company and each of your customers/clients. And no matter how well your company does as a whole: If these liaisons prove to be ineffective for any reason you could risk losing a lot of revenue. Employees who are singled out for their customer service and client relations will continue to deliver a stellar performance. It’s a simple way to protect your bottom line.
The desire to leave a job is often based on emotional, rather than practical, considerations. And when an employee routinely does a great job without anyone taking notice, it’s inevitable that their morale and sense of loyalty will plummet. That leads directly to turnover, which has sweeping consequences for any company. You can stem the tide of employee departure simply by showing your thanks.
Reduce Workplace Conflicts/Accidents
In each of the previous points, we have emphasized how employee recognition leads to happier, more engaged employees. Those psychological benefits directly impact how well your employees get along and how carefully they approach their jobs. The most dramatic and accident-prone workplaces are often the ones where employees feel like their company ignores the value of their contribution.
What is perhaps most exciting is that, while the benefits of employee recognition are sweeping, the cost of recognizing an employee is negligible. In most cases, it only requires an investment of time, and when a reward or bonus is being offered, the amount does not need to be exorbitant to be meaningful. To learn about more ways to enhance your workforce, contact the experienced staffing team at Morris Bixby.