Few things produce a better return on investment than the low (or no) cost act of recognising employees.
Even if you don’t have the budget for a formalised recognition program, just praising them can significantly improve their happiness.
In fact, research shows that getting praised actually boosts part of the brain related to rewards. And that those being praised feel motivated, engaged, and even perform better.
To put it another way, if you don’t create a great, rewarding place for people to work, they won’t do great work!
More on this topic in this week’s The Lever.
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1 FACT 🧐
“When a manager recognizes an employee’s behavior, personally and sincerely, both feel proud, gratified, and happy. There’s a human connection that transcends the immediate culture to create a shared bond. The power of this bond is stronger than you might think; indeed, it’s the power that holds together great organizational cultures.”
– Erik Mosley and Derek Irvine, co-authors of The Power of Thanks: How Social Recognition Empowers Employees and Creates a Best Place to Work
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1 TIP 💡
Employee recognition is about acknowledging accomplishments, appreciating hard work, and commending individuals and teams within your organisation.
Employee recognition helps businesses to:
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1 TOOL 💥
While it would be wonderful to financially reward team members who go above and beyond, that’s not always possible because of budget constraints. Here’s a quick read for you: 10 non-monetary incentives for staff to help you motivate and retain top employees.
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1 QUESTION ❓
As a leader, are you ensuring that all members of your team are not only productive, meeting deadlines, and hitting targets, but that they are also recognised for work well done?
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1 ACTION 🎬
Determine some ways to recognise individuals or teams for work well done in your organisation.