When your MVPs do standout work, they deserve a pat on the back. In fact, recognizing your employees is critical to business success. See these tips for creating a program that works.
Engage your employees
According to Entrepreneurial Insights, employee recognition is important for your staff's morale. By implementing an employee recognition program, you can increase overall engagement in the office. If one individual is praised for his or her work, others will likely step up their performance to match their coworkers’.
In fact, according to the 2015 Employee Recognition Report by the Society for Human Resource Management and Globoforce, 90 percent of participants said an employee recognition program impacted overall engagement in the office.
Get input about your program
Before deciding what achievements should be recognized, how people should be recognized and what the rewards will be, reach out to your staff and ask them. That way, you can build an appropriate recognition program that your staff will truly appreciate at the end of the day. Their input will help guarantee the overall success of your program.
Set aside a budget
Decide how much you can spend annually on a recognition program. Recognition programs can operate on very small budgets (or none at all). But you should evaluate your current financial situation to determine whether you can add more incentives that may help your employees perform at a higher level.
Consider investing in coupons, gift cards or educational classes that will bolster your employees’ current skill set.
Focus on milestones, too
Entrepreneur suggests regularly recognizing important milestones throughout an employee's career with your business. Consider celebrating the one, two or five-year anniversaries of your staff members.
You may also want to recognize employee firsts. For example, provide praise for an employee’s first in-person meeting with a client or first successful sale.
Build a better work environment
Recognition can have profound effects on work environment. By promoting positivity in the office and providing praise for those who deserve it, you can encourage employees to become more supportive of one another and feel more ownership of the business. And when employees feel responsible for positive growth, they will likely continue to deliver the best results.
So don’t forget to say “nice job” when it’s deserved. When you remember to thank employees, your business will thank you, too.