In today’s competitive business environment, employers need a workforce of fully participating employees who collaborate, communicate, and align themselves with the strategic goals of the business. That level of engagement doesn’t happen by itself. Savvy leaders have come to recognize the business value of planned, monitored and maintained employee recognition programs that support strategic business goals, build engagement and protect retention.
The Most Important HR Challenge Today
The SHRM/Globoforce 2013 Spring Employee Recognition Survey Report found employee recognition to be the most important HR challenge facing organizations today. The survey, published in 2013, showed an increase in concerns about employee engagement versus year prior and all indications show continued growth in 2014. A competitive marketplace for human capital has made business leaders more aware of the power of recognition to attract and retain talent.
Appreciation Plus Reward are a Powerful Combination
No surprise, the SHRM/Globoforce survey found the combination of “praise and prize” as the most effective tool to motivate employees and improve performance. What you say and how you say it matters to employees. It’s important to be specific and personal with your words of appreciation. Stand-alone years-of-service rewards, a traditional form of recognition, was found to be the least effective.
Employee Recognition as a Strategic Tool
WorldatWork’s ‘Trends in Employee Recognition’ study also examines the impact of employee recognition in the workplace. This study found recognition programs being used more in 2013 than in 2011, as well as an important shift toward using recognition programs to drive strategic business results. In the survey, of the top three types of recognition programs used, two were business drivers: rewarding above-and-beyond performance and peer-to-peer programs. While length-of-service recognition is still seen as important, recognition efforts are becoming more strategically targeted to engage, motivate and focus employee efforts.
Top Awards Stay Static
According to the WorldatWork study, the top five recognition awards surveyed companies use include don’t show much change over prior years.
- Certificates or plaques
- Gift certificates and gift cards
- Company logo merchandise
Surveyed organizations are budgeting on-average two percent of payroll for recognition, with 71 percent distributing recognition in a one-on-one setting with managers and more than half administering it at special events and staff meetings.
2014 Recognition Trends to Keep in Mind
As you think about effective recognition planning for your organization, keep these key trends in mind. You might not be able to take advantage of these all at once, but it will help lay the foundation for building a company culture based on respect and recognition. Top recognition programs:
- Build an emotional connection with employees
- Support strategic business goals and make employees feel valued and appreciated
- Go beyond being just a program and invest in building a culture of respect and recognition
- Make it social
- Make it fun
- Use data effectively to understand how to improve programs overtime
- Involve employees in decisions about recognition programs and recognizing peers
- Provide recognition training for managers
For more ideas on how to use recognition and rewards to build a culture of appreciation, download our FREE eBook, “The Ultimate Guide to Employee Gift-Giving” and start today!
About gThankYou, LLC
Turkey Gift Certificates and Turkey Or Ham Gift Certificates by gThankYou! are two of America’s favorite employee gifts and can be redeemed for any Brand (Turkey or Turkey Or Ham), at virtually any Grocery Store in the U.S.
gThankYou, LLC provides company leaders with a variety of easy, meaningful and affordable ways to recognize and reward employees, holiday time or anytime. gThankYou! Certificates of Gratitude and our free Enclosure Cards are personalizable including incorporating your company logo. And, nearly all orders ship same day.
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