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Friday Five: Rewards and Recognition and Thank Yous (Oh my!)

Posted on May 23, 2014

Studies show that more than half (53%) of employees are unsatisfied with employee recognition practices. This week, our Friday Five is all about finding the best way to reward and recognize your employees.

Recognizing Employees Take a Lot More Than Just a Paycheck

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We pay our employees to work for us. But if all you're doing is giving them a paycheck and the yearly salary increase then you're not really valuing your employees like you should be. We want our employees to go above and beyond the call of duty and be fully engaged-- but if you as a boss aren't engaged with your employees then that doesn't really inspire great performance. If you want your employees to go above and beyond for you, you should be doing the same as their manager. 

Want to Increase Employee Engagement? A Little Recognition Goes a Long Way

Disengagement. A plague that affects 70% of the full-time working population in America. Managers may not be able to force people towards engagement but there are steps they can take to encourage everyone. Pay raise is a big factor, but training, career advancement opportunities and other (more overlooked) gestures are extremely appreciated. 

Best Cities for Employee Recognition: Do You Live in One? 

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Quantum Workplace recently did a study evaluating employee recognition that included 5,000 organizations and 400,000 employees. All surveys were collected in 2013 and they focused on 11 types of recognition including praise from senior leadership, access to new learning or training opportunities, a personalized gift, and a pay increase. They came up with 10 cities that best recognize their employees and the findings most likely will surprise you.

Recognition Done Right: 9 Points of Light

This post makes a great case for the "if, then" approach to recognition that is used at most organizations. The norm: recognition and rewards should be used only when extraordinary performance happens. Yes, high performance should be praised and acknowledged but it shouldn't stop there.

Encouragement and recognition are drivers of high performance. People are more likely to perform well if they are appreciated and mentored along the way. Now we're not saying that you need to baby your employees--but you will be surprised how far a thank you or pat on the back can go. 

25 Ways to Reward Employees (Without Spending a Dime)

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Not sure where to start? There are a ton of creative ways to show your employees your appreciation (and they're not always monetary either.) From celebrating birthdays to a "no shoes" policy this list illustrates 25 great ways to say thanks. 

 

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