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We hate to be the one to tell you this, but a lot of employees think sporting a company lapel pin is about as “in” as wearing socks with sandals. There are much better ways to reward your employees and reinforce your brand besides just handing out tchotchkes.
Companies today are getting extremely competitive when it comes to culture and perks. Does your employee engagement strategy reflect what employees truly want and even expect from their employers?
What’s out? Passé trends include:
- Ad hoc and disconnected recognition
- Annual or semi-annual feedback & bonuses
What’s on-trend today is:
- Collaboration and bottom-up communication
- Cross-team recognition
- Tailored but fair rewards
Modern recognition strategies are necessary to win in today’s competitive business landscape, and these strategies must be transparent and advanced – just like the modern workplace. Evolving your engagement strategy reaches beyond what’s “on-trend” and extends to the bottom line. We curated this list of ten reasons why you need to replace the lapel pins with real-time recognition:
- Create better shareholder value.
Recognized employees will work harder to satisfy your customers, which has a direct effect on your organization’s stakeholders.
- Align employees with business objectives.
This reinforces the right behaviors and makes recognition more purposeful.
- Get employees engaged.
Recognition solidifies employees’ emotional connection with your company.
- Celebrate individual accomplishments.
While team recognition is important, employees want to feel that they have made an impact at an individual level too.
- Employees will work harder.
80 percent of employees said recognition is a strong motivator of work performance.
- Maximize retention rates.
Engaged employees are 87 percent less likely to leave their organizations.
- Leverage your greatest resource.
Recognition is the easiest and most meaningful way to motivate your people.
- Become more productive and profitable.
Organizations with high engagement rates are 78 percent more productive and 40 percent more profitable than organizations with low engagement levels.
- Develop your future leaders and motivate them to stay.
Engaged employees perform 20 percent better.
- Reinforce positive behaviors.
When great work is recognized, it’s repeated.
Wonder what other recognition styles are in this season? Download The Ultimate Guide to Employee Recognition to find out!