Real-time recognition refers to instant feedback and appreciation given to a member of your team. This instant recognition allows fast, effective and understandable communications between colleagues and managers resulting in valuable recognition.
Why is Real-time Recognition Important?
80% of millennials suggest they prefer instant recognition instead of formal reviews. With millennials making up 35% of the UK workforce, it is a big factor to think about. In other words, real-time rewards interest a large amount of the UK workforce. Thus, making it a perfect form of rewards and recognition.
Sent from any locations
Real-time recognition can be achieved in any location. In other words, whether in the office or working from home, companies can meet the needs of all staff in any location. Hence why it’s key during Covid-19.
Easy to understand
Awarding real-time rewards allows people to make a fast link to their good work. In effect, staff know what they’ve done well and continue to improve. Thus increasing their potential.
Personal and specific
Many forms of real-time rewards can be personalised. As a result, team members feel happier and trust their employers more. Furthermore, research suggests that happiness increases productivity by 31%.
Following on from trust, real-time recognition increases company loyalty. With higher levels of loyalty, staff turnover decreases. In affect, less time has to be spent on training and hiring, saving money.
Types of real-time recognition
With effective perks at work, companies can carry out meaningful real-time recognition.
Saying thank you for your hard work is the secret to creating incredible company culture. In the moment thanks is shown to have an great effect on the morale, productivity and loyalty of your people.
Companies may choose to recognise their people with employee vouchers. These real-time gift cards allow instant gratification. They also provide something useful.
Ultimately, real time recognition offers a fast, reliable and smart way to improve employee happiness. On top of this, it forms a positive company culture. Here at Each Person, we offer manageable and effective ways to recognise your people. To find out just how much we can help you improve your people’s happiness and productivity visit us at eachperson.com and follow us on social media!
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