6 Strong Reasons to Focus on Employee Appreciation & Recognition in Your Company
Do you think that you need a well-implemented employee recognition and appreciation program in your company? If this is one thought that has been constantly circling inside your mind, you are on the right track. It is important to empower your employees and associates by making (small yet) noticeable gestures to make them feel as an integral part of your corporate family. An employee appreciation gift box also has immense power to enhance employee productivity and morale.
According to an independent study, any organisation that puts heavy emphasis on appreciating and recognising employee achievements, is able to increase their engagement levels by more than 62%. The same study when inquired with employees with regards to what their leaders and managers could do to improve their engagement, nearly 58% of them endorsed recognition and appreciation more than monetary benefits. It is quite clear that some of the most successful organisations that we know of today are prioritizing employee engagement, recognition, and appreciation throughout their divisions. However, close to 38% of employees do not think that employee appreciation and workplace anniversary gifts would matter to them.
The rest of them do not have any concrete say in it. But you are already certain of what you want. You know that employee appreciation is important for your company and your brand image as well. Following are a few reasons you should start prioritising it as early as possible:
1. Improved Retention
You don't often pay attention to how much employee turnover is costing you every year. The considerable amount of money that you spend on advertising, workspaces, hardware and software, and other business functions is enough to keep you occupied counting numbers. However, if you are not able to retain your valuable and essential human resource, it is going to cost you not only in monetary terms but also in terms of institutional knowledge, decreased morale, lower productivity, loss of organisational insights and much more.
2. Enhanced Productivity
According to Brain & Company, the best organisations are able to enhance their productivity by more than 30 to 50% as compared to their industry peers. Their increased profitability is an outcome of their higher productivity which is the result of thanksgiving gifts for employees. When you add appreciation and recognition to the mix, the productivity of your employees and associates skyrockets. It is also why you should highly focus on giving your employees the right feedback at the right time. You will be able to notice the impact of this feedback on their work and priorities as a professional. Their contributions will soon be more pivoted towards moving the organisation forward.
3. Boosted Morale
Close to 71% of employees according to a recent study are of the opinion that motivation and morale play a very important role in keeping them highly dedicated and engaged in their work. As compared to this, only 22% of senior decision makers in most organisations are of the opinion that regular recognition and appreciation of employees is not that important after all. Remember, a highly engaged employee will most probably be described as someone who is more passionate and committed towards their job responsibilities. A well organised and enthusiastic individual is often driven by the high levels of morale that he is able to gather from his seniors and top managerial position holders. Frequent and visible praise and appreciation of your employees is something that will often promote a sense of belongingness and responsibility among them. It does not just enhance their overall job satisfaction levels but also improves their loyalty towards the organisation.
4. Sense Of Purpose
Appreciating your employees and their work and their contribution, their skills and aptitude and everything that they bring to the table also gives them a sense of purpose in your organisation. According to independent research, close to 59% of young Americans feel left out and lack ambition in the absence of a purpose in their organisation. When the top management knows how to identify and appreciate employees with individual gift boxes, it gives them a sense of purpose and a goal they would want to strive to achieve. As humans we are highly motivated by what we can contribute to society and in what ways our activities can benefit other people. This is where we can easily identify the purpose of our existence and the same applies to your employees as well.
5. Happiness Quotient
Highly appreciated and recognised employees are always happy. Remember how we often talk about good vibes and a healthy working environment in companies? This is exactly what it is. Employees who feel good about their jobs are often the ones who are appreciated for their work at their workplace.
6. Valued Leadership
When an employee / associate in your organisation is valued enough, they would want to stick around. Similarly, they would want you to stick around as well because you, by appreciating their efforts and contribution in addition to completing your responsibilities towards the organization have become the ideal leader they look up to. Appreciative leaders will always be appreciated. Period. Someone who recognises and appreciates the hard work and toil of their employees will always be valued in return.
Employee recognition and appreciation is not something that you perform periodically or every 6 months. It should be a part of your company culture. It should be integrated in your very behaviour and conduct. There is no “right time” or opportunity to appreciate and praise any hard-working employee in your company. If you want the best of your human resources to stick around and be a part of your company's growth, you have to learn how to value them and make them feel appreciated as frequently as you can. And if you still find it difficult to come up with an idea to appreciate them, maybe we at People Proud can help you with it. You can go through our collection of the most appropriate and handpicked gift boxes and hampers for your employees, associates, and partners. You will find something for everyone for every occasion.