How Employee Recognition can Grow Your Business
A company’s employees are the key ingredient for any business. Without them, a business cannot function properly and won’t grow the way it should. That is why it is extremely important for you to be attentive to the needs of your workers and to ensure they are satisfied and motivated.
Staff appreciation is necessary in any business. Several studies have revealed that in addition to a possible monetary reward, the main reason why employees don’t leave their jobs is because they feel valued and appreciated by their employers and that they contribute to the growth of the company. Workers who feel they are a part of a collective endeavor are motivated to work harder.
Recognizing your employees is an investment
As a business owner, there are many ways to keep constantly engaged in employee recognition efforts and they can be extremely beneficial in keeping keep up office morale. These include investing in employee appreciations gifts or giving out employee reward programs. While it is true that these things cost money, it is a small price to pay for what you can get in return.
Employee recognition helps retain good staff in your company. Employees will put in more effort to make the company successful and not consider the idea of leaving for a more lucrative job. Their feelings of value and importance to their present company acts as a bond and will provide them with enough reason to stay where they are.
Studies have also shown that employee appreciation boosts productivity. Employees improve their quality of work by 10-20% if they feel like they are being recognized. Kind words and simple praises can have a positive impact especially on employees who are hearing these words for the first time in a workplace. Thoughtful praises when said sincerely often lead to more worker motivation than appreciation gifts or employee bonuses.
Show them what you mean
Being the leader of the company, your employees look up to you and seek your guidance on how to do the best job possible. This is why it is extremely important that you walk the talk. It is up to you to show them ways to increase productivity and to focus on the importance of doing a good job whatever that might be.
Employee recognition and/or rewards and gifts are meant to motivate and encourage workers to do their utmost but they should not be used to make them feel laid back or complacent. Instead, workers need to challenge themselves to do better so that they feel they are entitled to their recognition and reward. Providing continued challenges for them is a good growth technique that can bring success to the both the company and their own careers.
Incentives for employee recognition can be either in cash or tangibles, the point being to make each team member feel good about his/her job with the company. If they are not passionate about their jobs and they are doing it only because they have to make money, motivation remains low and productivity drops. It is certainly better to run a business where everyone feels empowered rather than rule a strict work environment where people put in the hours because they have no other choice.
Running a business is not just about money. It is providing an atmosphere where people feel valuable and appreciated and where successes and accomplishments are recognized.
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