Employee recognition plays a very important role in today’s competitive Human Resource market to attract and retain employees.
HR departments have started to use advanced tools & techniques to attract top talent and persuade to take their job offer.
Employee recognition programs are very crucial for effective functioning of the organisation:
- Gallup’s poll also found out that 65% of employees haven’t received any form of recognition for good work in the last year!
- Study by CareerBuilder found that 50% of employees would stay if they were tangibly recognized.
Thus, if you want to retain top talent, keep them motivated, engaged and productive, you should implement an effective employee recognition program.
What are the Characteristics of a good employee recognition program?
Before you start implementing an employee recognition program, it is important to understand what makes a certain employee recognition effective and successful.
According to Gallup Study most memorable recognition comes often from an employee's immediate manager (28%), followed by a high-level executive (24%).
We all know how higher attrition rate would cost the company. This is the reason why companies across the world are looking for solutions to lower attrition rates. Employee recognition programs are your best bet.
Different types of employee recognition programs that had greater impact on the employees are classified:
- Public recognition (award, certification or recommendation)
- Private recognition (from a Manager, Peers)
- Monetary award (such as Gift, Prize).
You don’t have to spend so much money to recognize your employees and show them that you appreciate their hard work.
What are the best employee recognition ideas for a company?
Factors that affect your employee recognition ideas:
- Your budget
- Number of employees
- Company values
When employee recognition comes into face, there is no “one size fits all” secret method. This why a secret to great employee recognition program is to adjust it in line with your employees wants and needs.
Make a list of the employee recognition awards and ask them to vote on their favorites. You can even ask them to submit their own ideas and suggestions!
That way, you will be sure that you’re rewarding your team with something they really value.
There are limitless ways to implement employee recognition program at the workplace; A best in class employee recognition program starts with having a company culture that emphasizes on appreciation for top performers. This can be the foundation for motivating, engaging, continuous development of the employees and a retention strategy for the future.
If you are looking for a better employee Reward, Recognition & Engagement Platform then you are at the right place: Welcome to Zaggle Propel Platform.
Zaggle PROPEL is a web-based platform to design, implement, and monitor Rewards, Recognition and Engagement programs. Propel helps organisations to dramatically decrease the workload of managing and measuring their rewards and engagement programs. Through automation and with meaningful real-time analytics it gives organisations a better insight of reward budget allocation. It enables the organizations to instantly reward employees, channel partners and customers to stimulate the business performance and boost productivity. Some of the features include:
- Robust Peer to Peer Recognition
- Instant Rewards
- Surveys & Polls
- Easy integration of API with HRMS systems