Recent Posts
- Men masking mental health issues. Why is men's mental health declining in the US?
- I am hesitating on joining the armed forces! Are people in the armed forces more prone to mental health problems?
- Getting acquainted with the 7 types of anxiety disorders. What do I need to know about them?
- My husband needs to recover from alcohol dependence and mental health issues. How can I help him?
- Are there good and bad debts? And how does debt impact mental health?
Most Popular
Top tips to recognize and reward employees. How can companies recognize great work?
American business magnate Sam Walton addressed his employees in a 1980 memo which contained his view of engaging employees. He said, “All human beings want to be appreciated and respected, so managers should empathize with and motivate their people by appealing to their desire to improve themselves and be more productive.”
This idea remains relevant now as companies are traversing the changing 2024 workplace.
As companies work with their people to attain business goals, they also have to answer these questions. How do you bring out the best in people? How do you recognize the massive value that people bring to the company?
The answer might lie in employee reward and recognition.
What is employee reward and recognition?
Rewards and recognition come in many forms. They are considered positive feedback for employee behaviors and achievements and they make a difference in employee engagement and productivity.
Employee rewards. These are material/physical perks, bonuses, raises, rewards, and payments. When employees achieve results or meet goals, they are given tangible rewards.
Employee recognition. These can be non-material incentives. When companies want to acknowledge and give thanks for an employee's efforts, they are recognized through things like public affirmation and praise, and opportunities for a flexible schedule, and vacation time.
In general, rewards are uniform for everyone, while recognition can be more personalized based on each employee’s personality.
It is important for companies to provide a balance of both rewards and recognition to increase both extrinsic and intrinsic motivation.
How do employees feel about rewards and recognitions?
A survey posted in Harvard Business Review shows that 4 out of 10 employees would be more interested in their jobs if they were regularly given recognition. Meanwhile, another study says 8 out of 10 employees feel that when they are recognized, their motivation to work harder and succeed increases. This is especially seen in employees who are between 35 to 44 years old.
Why is there a need for employee rewards and recognition?
- Validating desirable behaviors in employees meets their need for social recognition. It increases their feelings of pride for belonging in the company.
- Material rewards make workers feel appreciated. Giving them opportunities to choose their rewards empowers them to work to the best of their abilities, knowing that they have something to look forward to.
How to create an effective rewards and recognition program?
1. Make the program as authentic as possible. Surveys of factors that increase satisfaction from a rewards and recognition program shows that authentic and personalized rewards are greatly appreciated. It means that the feedback was given at the right time, given in front of co-workers and connected to the company’s direction.
2. Make small and big things matter. However big or small the achievement is as long as it shows growth and development, it is a reason for celebration. It creates a ripple of impact on others through inspiring positive change.
3. Give rewards that impact work-life balance and hobbies. There is now a demand for a more balanced work life and personal life especially among the younger generations of employees. (7) Programs that give them time and opportunities to pursue wellness is an amazing motivator!
4. Ask your employees their preferred positive feedback. By conducting a survey, you would get a better pulse of what employees consider as their top motivations. In addition, a survey about how satisfied employees are with their work gives you clues on what incentives to give.
Create your company’s own rewards and recognition program that reflects your values and goals and your employees’ needs and witness how you get them to shine at work and how your business goals soar too!
Discover your next health care or mental health career opportunity by browsing through available job listings for healthcare professionals!
Comments