Career Testing
Career Testing
Career Testing
ENTREPRENEURSHIP / OCT. 06, 2015
version 9, draft 9

3 Reasons Entrepreneurs Need an Employee Recognition Strategy

Charlie Day and Jennifer Aniston in Horrible Bosses 2
SMH

Company culture is considered to be one of the greatest assets of a business. When it’s great, everything’s great, as it helps to make the work environment a more positive place to be. But it is not a one trick pony, it also has other uses. In terms of developing a business, the workplace culture can utterly destroy the competition and maintain the company’s health.

As Milton Moskowitz and Robert Levering clearly show, many of the most important companies in the world understand how important company culture is. “The best employers are better because more business leaders are focused on workplace culture as a competitive tool.” Essentially if a company has a very good workplace culture, then it will do well in the marketplace as well.

An excellent example is Google, which has the number one spot on the list of 100 best companies to work for, it is a position it has managed to maintain for six out of the past eight years. One of the main reasons the company has become massively successful is because they have chosen to invest in their employees, working on practices that help them improve their in-house productivity. That’s done through improving job satisfaction whether that translates to allowing employees to be more flexible or giving them the option to participate in fun activities on-site.

As Google shows, other businesses should also consider creating a winning corporate culture that benefits the workers and the employer alike, by appreciating the workforce. Despite the fact that the majority of U.S. businesses already have some form of employee recognition they aren’t as effective as intended. As psychologist Paul White says on Entrepreneur, their strategy isn’t authentic and offers rewards and employee recognition activities that aren’t personalised to each worker individually. As a result, employees feel that they are being recognised as a group rather than personally. While this is employee recognition, it just isn’t enough as to make employees fully engaged in their work.

But for every business, an employee recognition strategy is essential. Here’s why.

#1 Boost in Employee Morale

No matter how much employees love doing the work, they won’t be happy if they feel that you only care about them getting it done. It is all about appreciating your employees, showing that you care about their overall well-being and satisfaction in the job. Once you do that, they are more likely to stay in their current position if they feel they are treated well.

So, when an effective employee recognition strategy is in place, it makes workers feel good about what they are doing. Having their seniors congratulating them obviously makes them feel like a valuable member of the team increasing their confidence in terms of the way they work.

#2 Increased Productivity

As obvious as it might seem, showing that you appreciate your employees can result in productivity boost. Employees are the pivotal force behind any business and when they are motivated and engaged they can make your company ten times more productive in contrast to one with a disengaged staff.

Since a happy workplace is a productive workplace, you need to make sure employees remain content with their work at all times. Human resource experts say that entrepreneurs should ask their employees what they need from them. While this seems to come out as straightforward, it can help as it will align their expectations with yours and help you discover a common ground where a mutual understanding is achieved.

#3 Reduced Company Costs

When employees are treated how they deserve, they are more willing to go to work and much happier to do work. As a consequence, businesses can cut down on costs including holiday and absenteeism expenditures if they treat their employees well.

So now that you’ve come to understand the power of recognition, you need to figure out which strategy will suit your worker’s best interests. Since an employee recognition program can help you shape a much more positive workplace culture, you need to take some time to decide what works best.

To help you achieve your goal, the SnackNation offers some pretty useful tips on how to make your employees feel valued. Let’s check them out:

Keep a Log of Achievements

The achievements of employees often go unnoticed, especially if you are running a big company of 100 people or more. To make sure they are remembered, it might be a good idea to write them down and then, read them aloud. For example, you could encourage employees to keep track of work-related accomplishments, by logging them in a book and then sharing them with the rest of the team. This is designed to strengthen the bonds between employees and management.

Celebrate Success

It’s not enough to recognise their efforts; you also have to act on them. Offer your employees the opportunity to prove themselves while providing them with opportunities to go the extra mile. But don’t promise them they will become the ‘employee of the month’ without offering an actual prize. While the title would make them feel recognised, it can’t be compared with a trip to Hawaii right? So it’s pretty simple really, give your employees a reason and they will perform.

Go Public

What better way to show that you value your employees than to go on social media? Strive to get more involved in the process of their work, and show your employees – and the rest of the world that you care about the people who support your company. Not only does this make you a better entrepreneur and demonstrate to the world that you value your employees, but it also attracts potential candidates who are interested in working for you.

See Also: Time Management Tips For Small Business Owners  

If you are serious about setting up a successful business, you need to consider using an employee recognition strategy. With all the benefits mentioned above that it provides, it’s simply impossible to ignore, and it is vital to make your employees feel valued and well-respected.

In the end, it is much more fun to work at a company that values contribution and celebrates progress. If you come to think about it, any kind of love should be mutual, so unless you – the entrepreneur, show that you care about your employees how do you expect your employees to love you and the company back?

Do you agree/disagree or have anything to add? Please let me know in the comments section below…

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