Affordable Employee Recognition Options

Affordable Employee Recognition OptionsAffordable Employee Recognition OptionsDid you know that employee recognition can be one of the best forms of retention? And if youre concerned about losing top talent, a little recognition can go a long way. Both employees and your business can reap numerous rewards.In some ways, you might see employee recognition programs as feel-good measures, but the benefits of recognition go beyond simply inspiring goodwill. Letting employees know that you value their contributions also increases productivity and innovative thinking.In fact, employee recognition can be thought of in terms of a positive feedback loop. The formula is both easy to remember and easy to put into practice Employee recognition equals employee productivity equals management gratitude.While the three elements of this simple yet profoundly rewarding feedback loop are synergistically related, employee recognition is a distinct, proactive step management can take to promote a success- oriented mindset across all facets of the operation. The mora employees know that their efforts are appreciated by management and the company as a whole, the more theyll strive to do great work. In the final analysis, employee recognition benefits both the staff and the business itself in several waysBenefits of employee recognition for workersGreater motivation Employees who know they stand to be rewarded for outstanding wertmiger zuwachs approach their jobs with greater enthusiasm and creativity. The opposite is unfortunately true Not being appreciated is commonly cited by departing employees as a reason for moving on to a business where they feel their efforts are more likely to be recognized.Peer acknowledgement Chances are, employees who get word of a coworkers achievement will take the time to offer their own congratulations. Its hard to image an employee who wouldnt welcome the acknowledgement.Empowerment and inclusion Employee recognition programs can make staff members feel more connected to the company rather than just the recipient of a regular paycheck. That moves loyalty beyond just a financial appeal.Subscribe to the Robert Half newsletter for articles and resources to help you build and manage a winning team - all sent directly to your inbox.Benefits of employee recognition for the businessReinforcing positive behavior If employees excel, others will notice. That can help others raise their performance in hopes of being recognized as well.Lowering stress levels If the emphasis is on the positive rather than an overriding concern about snafus, employees are likely to feel less overwhelmed about their job responsibilities.Increasing customer retention Higher employee motivation levels typically carry over to satisfied customers and clients. Those you do business with inevitably notice employees who bring a commitment and enthusiasm to what they do. Unfortunately, a disgruntled or frustrated employee can stand out to customers just as much.Low-cos t employee recognition ideasNow that weve reviewed some of the benefits of employee recognition programs, lets look at some options. Not every employee recognition award has to be pricey. Here are 12 budget-conscious alternativesTime off or extra vacation daysA note or letter of appreciation from the company presidentDinner at a local restaurant (or a lunch on me coupon)A designated employee-of-the-month parking spotTickets to the movies or a sporting or cultural eventA photo and brief article in the company newsletterSpecial recognition at a company meetingA department picnic to celebrate a team achievementToken of appreciation (T-shirt, tech gadget, etc.) with the company logoDecorating the employees office or cube with balloons or Great job signsCoffee gift cardsAnd of course food, like bagels, cupcakes or cookies always work, tooOne simple thing that many managers may overlook is the thank-you. So often, all it takes is a heartfelt, Thank you. You did an outstanding job on that project, and I really appreciate your help An emaille or in-person thank-you doesnt cost anything. Think about it. If you spend 30 seconds to write a thank-you email or note, wouldnt it go a long way toward making your employee feel appreciated and work that much harder the next time around?Robert Half conducts exclusive research and offers free resources you can use to hone your management skills.CONTINUE READING