Job satisfaction is on the decline in the American workplace. In fact, 53 percent of workers say that they are unhappy with their jobs.
There are a lot of reasons why American workers are unhappy. One of the most common complaints, though, is the fact that they don’t feel appreciated by their employers.
Is there a chance that your workers feel this way?
If you’re not in the habit of expressing appreciation for your employees, now is the time to start. You might even want to consider implementing an employee reward and recognition program.
Read on to learn more about the benefits of such a program and how you can implement one in your office.
1. Benefits of Rewarding and Recognizing Employees
There are lots of reasons to make showing appreciation for your employees a priority. The following are some of the greatest benefits that a reward and recognition program has to offer:
2. Increased Happiness
Remember, the majority of American workers are unhappy with their jobs.
By showing your workers that you appreciate them and recognizing when they go above and beyond in their positions, you can significantly increase the happiness your workers feel.
3. Increased Productivity
When your employees are happier, they’re more likely to be productive.
If you want your employees to continue to work hard and do as much as they can for your business, you need to recognize the work they’re currently doing.
If they know that you see and appreciate all they do, they’re going to be more inclined to continue doing it.
4. Attract Better Candidates
Businesses that are known for recognizing and rewarding their employees are more likely to attract better candidates.
If you want to bring the best and brightest onto your team, you need to make sure you have a workplace culture that attracts such people.
5. Increased Revenue
When you have better candidates on your team and your employees are more productive, you’re likely going to see an increase in your business’s revenue.
You’ll also likely see improvements in the quality of products or services you’re providing. Who doesn’t want that?
6. More Teamwork
If your employees are happy and engaged at work, they are more inclined to work together as a team.
When your employees collaborate willingly, they may come up with better ideas and more complex solutions to common problems.
The impact of the coronavirus forced many individuals to work remotely. If your employees work out of the office, you may consider having monthly meetings and incorporating virtual conference activities to help foster collaboration and creative problem-solving techniques. Ultimately, implementing fun events can aid in creating a positive work environment and efficiency within your company.
7. Reduced Turnover
Happy employees are less likely to quit their jobs than unhappy employees.
If you want to reduce employee turnover — and the extra expenses and stress that accompany it — you need to make sure your employees know how much they’re appreciated.
8. Increased Appreciation
Appreciated employees are more likely to show appreciation to you, their boss.
When you let them know that you’re grateful for what they do, they’ll be more inclined to reciprocate and let you know that they’re grateful for you and your hard work.
If you’ve been feeling unappreciated yourself, maybe you need to start by showing a little appreciation.
9. Creating a Reward and Recognition Program
Clearly, there are perks that you can enjoy as a business owner when you recognize and reward your employees. How do you go about creating the right kind of rewards program, though?
Here are some ideas for recognizing and motivating your employees to keep them engaged at work:
10. Celebrate Major Work Anniversaries
It’s great to celebrate an employee’s first anniversary with your business. You should also make note of anniversaries that are divisible by five.
It’s great if these anniversaries can come with some kind of significant benefit, such as a salary increase or additional paid time off. If you don’t have the budget for that, at least find a low-cost way to recognize the benchmark.
11. Celebrate Birthdays
Most employees love having their birthdays celebrated in the office. Even if you don’t do a full-blown party, a nice card or a balloon attached to their desk is a nice gesture that helps employees to feel seen and appreciated.
12. Recognize Outstanding Work
Of course, you should also recognize and reward employees when they go above and beyond. When they do outstanding work, take on an extra project, or make significant improvements, don’t let their accomplishments go unnoticed.
13. Allow for Nominations
It helps to increase morale when you allow employees to nominate each other for rewards and recognition.
Set up a station where employees can write down nominations and make note of when they see someone else doing something great around the office.
14. Ways to Reward Your Employees
There are lots of different ways that you can reward your employees. It helps to have a variety of rewards to choose from, as people have different values and needs.
The following are some ideas for rewards that your employees are most likely to appreciate:
- Additional time off
- A letter of appreciation
- A plaque or certificate
- A gift card to a favorite coffee shop or restaurant
- A longer lunch break
- Company branded gear
- Tickets to a concert, movie, or sporting event
- A photo and write-up in the company newsletter
Before you implement a rewards program at your office, it’s a good idea to talk to your employees and give them more info about these awards. That way, they can decide what types of rewards they’ll enjoy the most.
15. Start Rewarding Your Employees Today
As you can see, there are plenty of reasons to implement an employee reward and recognition program in your workplace.
If you want to keep your employees excited and motivated to do their best on a daily basis, a good recognition program is a great thing to try.
Now that you understand the benefits of rewarding and recognizing your employees, it’s time to make plans for a program and putting those plans into action. Keep these tips in mind and you’ll have a much easier time getting started.
Are you looking for more advice on the right way to run your business and keep your employees engaged?
If so, check out the Business section of our site today for more information.