Over the years, the Total Rewards concept has evolved and become a big part of how companies attract and retain talent. Within the Total Rewards framework, there’s one major component that employers can’t ignore: employee recognition.
Employees work for more than just a paycheck. Appreciation is a fundamental human need; employees want to be recognized for their contributions. Employee recognition refers to the timely, formal/informal acknowledgement of an individual or team’s efforts. It improves engagement, morale, productivity, and retention.
So what do these programs entail?
Below are some things your organization can do to recognize employees, many of which have no associated cost.
- Offer flexible schedules
This shows a level of trust in your employees and, in many cases, allows them to get more done as they’re working during their most productive times of day. - Say “thank you”
It’s the simplest way to show appreciation. Don’t be stingy with your gratitude. You’ll find it will improve your relationship with coworkers, as well as help you get things done. - Start an employee of the month program
This is another simple way to give your employees a pat on the back for exemplary work. Printing off a certificate and explaining how your employees contribute each day they’re at work can go a long way. - Bring in spontaneous treats
Offer bagels one morning, or bring in some homemade treats to share. You’ll see an instant mood boost in the office. - Plan offsite activities
Having fun with your coworkers will help you bond as a team and boost your productivity on the clock. - Treat an employee to lunch
Not only do you get a nice meal and a fun mid-day break, you also get to know your employees better and show them you appreciate their hard work.
Recognition does not always have to come from your manager. Peer to peer recognition is equally as important and builds morale and team cohesiveness. At Versique, we have an opportunity at monthly company meetings to recognize others for their efforts. In our collaborative environment, this is not only an honor but also showcases what employees can do for other practice areas. It’s an opportunity to learn how to be a better partner companywide.
Recognizing employees and rewarding commendable efforts should not be a random occurrence. Each instance of recognition should encourage the next. This practice shapes a culture of positivity, where appreciation is encouraged and communicated.
What does your company do to recognize its employees?
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