Employees are key players in the success of any business or organization. If your employees are effective and performing, they are productive. CEOs and executives know that productivity can lead to more sales and profit. With this in mind, employers should work on making their employees feel appreciated. Employee recognition is a crucial investment in any business because of the benefits it offers. Here are some of the reasons why it is important to recognize your employees:
1. This Will Increase Employee Productivity.
This is perhaps one of the most important benefits of employee recognition. Once an employee feels he or she is appreciated for doing the job well, this individual will be motivated to report to work and finish what needs to be done on time. This will result to more production from your employee. Say, you are in manufacturing. The more products your employees create, the more demands of the market will be met. This means you increase the possibility of selling more to your customers.
2. This Will Result To Happy Employees.
Be it awards, prizes or recognition, appreciating your employees make them content and happy at work. If you have happy employees, attendance infractions will be minimized since they will be looking forward to report to the office. People crave for recognition because it makes them feel important and appreciated members of society. Apply this practice in your organization and members of your team will not have second thoughts going the extra mile for the company to achieve its goals.
3. This Will Reward You With Engaged Employees.
One of the advantages of recognizing your employees for their efforts at work drives them to become emotionally committed to your organization. According to a research, companies that offer recognition and rewards to their staff have 14% of their employees becoming engaged with work, are more productive and deliver quality customer service. In businesses where employees are frontliners and come in direct communication with customers, it is important for them to offer good customer experience to retain customers and attract potential clients. The happier they are, the more they extend good service and productivity. At the end of the day, it is your organization which will benefit from having engaged and committed members of your team.
4. This Will Attract Potential Candidates.
Hiring competent and effective candidates is essential in business success. When you have positions in need of filling in, there will be potential employees who will apply for these jobs. If you include these perks in your compensation package, you increase your chances of encouraging great candidates to send their CVs and join your team. Moreover, these candidates will be asking people they know for some feedback about your organization and there is a possibility that some of them are acquainted with one of your employees. One of the things they will be interested about is how your company takes care of your employees. If they know someone from your organization and this person will take highly about your company and how well you appreciate them, these candidates will probably choose to be with your organization and grow with the company over your competitors.
5. This Will Encourage Them To Help Achieve The Goal Of The Company.
There will be times your employees will have to work extra hours and even on weekends to catch up on deadlines and production. Going the extra mile is something that is either be done out of being forced to keep their jobs or their concern for the company. If you know how to appreciate your employees, they will feel their importance as members of your organization. Consequently, the need for them to extend working hours will not be give them the feeling of being overworked. By giving them recognition for going out of their way to meet deadlines, more of your employees will be pro-active and engaged with their work.
6. This Serves As Your Basis For Making Important Decisions.
Recognitions, performance and evaluations given on your employees play an important role in your business operations and your employees’ personal development. All these can be used to improve your company. For a situation where internal hiring is called for, a record of recognition in your possession will make it easier for you to choose the ideal employee to fit the job. Moreover, if you need to restructure your organization and have to let go of some members of your team, you will have documents to prove and back up your decisions of retaining performing employees.
7. This Encourages Team Work Among Employees.
Successful companies with employees will healthy interpersonal skills and who are team players are those that practice peer-to-peer evaluation. Giving your employees the power and chance to recognize their colleagues paves the way to building friendships and strengthening teamwork within the members of the organization.
8. This Builds a Reputation For Your Organization.
When your employees leave the office, they will be asked by their friends, family and potential clients about their work. Chances are, they will be expressing their feelings without deliberately trying to. Whatever emotions they show will reflect on your company. If your employees are happy and well- appreciated, these will manifest in their speech and actions.
9. This Lowers Employee Turnover.
Happy employees tend to stay with their companies and perform better. If performing members of your team are content with their work and know that their efforts are not overlooked, you will increase employee retention. Not only will your company benefit from increased sales and productivity. Your organization will also save on time and money from having to train new hires because you have loyal employees.
Recognizing and appreciating your employees offer numerous benefits for both your organization and your staff as well. Not only are you doing your part as the employer and giving members of your team the attention they deserve for doing well at work. You are also contributing to the industry by having engaged employees willing to give quality customer service to consumers.