Employee recognition regularly crops up on lists featuring tips on how to ensure your company has happy employees. With Entrepreneur.com suggesting it should be fourth in terms of your priorities as a CEO. On top of that, Deloitte states that ’employee engagement, productivity and performance are 14% higher than in organisations without employee recognition.
Yet, while it’s clear that having happy employees is closely related to having a good employee reward scheme, many bosses are failing hugely. But give out a little praise now and then – and it’s likely your employees will work harder and stick around for longer. A recent National Employee survey from Each Person suggested that over 90% of workers feel employee recognition is essential.
Incentives are Everything
So, how can you ensure you have happy employees? Employees love incentives – to work harder, to stay later and longer, and to reach their personal goals quicker. So, how can you help them do that?
It’s about going beyond the basic needs of your staff. According to The Theory of Human Motivation, which Abraham Maslow published in the 1940s, all humans have the innate desire to be all that they can be. Known as self-actualisation and the Holy Grail for employers. After all, who wouldn’t want to employ staff who consistently work to achieve their best?
Maslow believed that we should meet more basic needs to unlock this desire in people. With the option to work their way up through a hierarchy highlighted as a critical incentive for any workforce. While people are different about their needs, a simple ‘thank you for your hard work‘ can go a long way.
For your staff to work harder for you, you need to be in tune with their basic needs – and ensure your company and its principles evolve as they do.
Reward Employees: How to Change Mindset
Here are just a few examples of how you can change your staff’s mindset – and boost employee engagement.
Take Steps to Understand Your Employees’ Lives Outside of Work
A shift in mindset regarding rewards and recognition is needed, as is a better understanding of an employee’s life outside work. It is now just as important as their life within it.
Employees today expect much more, in terms of emotional intelligence (EI), from the company they work for, but this has yet to translate into the DNA of employers.
Emotional Quotient came in at number six in the World Economic Forum’s list of the top 10 skills employees need to thrive. It simply means someone’s ability to understand, perceive, and manage their own emotions.
People thrive when technology enables greater efficiency. Therefore, put some time and money into basic technology; it could well equate to a spike in employee motivation. Moreover, will benefit you longer-term.
Praise Employees Individually
When it comes to ensuring your company has happy employees, a one size fits all approach to employee recognition doesn’t work. Therefore, it falls on employers to understand each employee’s individuality and unique needs. Many organisations have already addressed the importance of a good work/life balance, progression opportunities and flexible working.
Ensure Employee Recognition is Authentic
Make sure regular employee recognition forms part of your company’s culture – and implement praise in a timely fashion. Go beyond “well done” or “good job” and be specific when recognising employees, telling them exactly what they have done that’s earned your respect or appreciation.
What does employee recognition look like in your business?
Employees’ expectations are changing – and people expect a lot more of their employer and their emotional intelligence and empathy.
You must adopt a long-term view of employee recognition if you’d like to ensure your company has happy employees.
Ready to find out how you can make a start? Please contact us at email@example.com today!