Why Should You Have an Employee Recognition Program?
Why Should You Have an Employee Recognition Program?

Why Should You Have an Employee Recognition Program?

Are you looking for ideas for employee recognition? You are not alone, because one of the most important aspects of successful employee retention is an effective employee recognition program. When examining what employees are looking for in terms of benefits and pay, organizations often overlook employee recognition programs, which can be a very low-cost benefit that not only builds positive corporate culture, but also contributes to an overall high morale. By using positive reinforcement, you can encourage fostering and repeating of those desirable employee behaviors.

Employees want to know they are valuable, and you can show them how much you appreciate them by implementing a company-wide employee recognition program. There are several popular ideas for these programs, including:

* Length of service or tenure awards
* One-time achievement awards, such as on-the-spot gift cards or other small tokens of appreciation
* Bonuses
* Employee-of-the-Month awards

Is your organization a great place to work Companies that frequently recognize, validate and value outstanding work (not only by commending employees on their job performance, but also by giving them monetary rewards or other incentives) are typically recognized by employees and prospective employees as desirable places to work. This is beneficial not only for retention purposes, but also for an employer’s bottom line. Happy employees are highly efficient and are more likely to perform at their peak capacity.

In 2014 and beyond, organizations will find themselves increasingly competing for top talent. During the recession, a trend among organizations was to “do more with less.” Now that market conditions are improving, employees are likely to evaluate whether they are happy in their roles and in their organization overall. An effective recognition program provides a valuable resource for employers who must utilize every available means to attract and retain the best employees and to keep them engaged and productive. In addition, awards and incentives can help keep employees motivated and help reinforce company goals during times when workloads are greater than usual, or, for example, when budgets allow for only minimal wage increases.

Creating a collaborative work environment with strong, supportive relationships between managers and co-workers is critical to the success of every business. A positive employee reward and recognition strategy essentially reflects the philosophy that a sincere “thank you” or “well done” goes a great length in ensuring an employer’s top talent feels appreciated, motivated, and most importantly, committed to the organization’s goals and success.

When developing a recognition program, we recommend providing a concise, written policy describing the parameters of the program, such as the terms and eligibility requirements, the types of rewards attainable in the program, and the timing of the program. Recognition programs are most successful when they align with the organization’s overall mission and values.

Employers should establish a comparable reward or bonus criteria for each department or job group. For example, the Sales department and the Client Service department may have different bonus percentages and criteria in place; however, each employee in these departments should be measured against equitable standards with regard to eligibility for a bonus or recognition.

_Adapted from content by the HR Pros of the HR Support Center. For more best practices like this, sign up for our monthly Industry Insights e-newsletter, or scroll through our Resource Center articles

More to Discover

Case Study: Buy Sod

Case Study: Buy Sod

Buy Sod Inc. Partners with Paycor to Pay Employees & Maintain Tax Compliance “Because we’re a niche company, our administrators sometimes have trouble uncovering and implementing best practices. But when we partnered with Paycor they brought the expertise and thought leadership to help us overcome tough challenges like the new EEO-1 report. Paycor has the patience, knowledge and resources to help us stay ahead of problems and grow.” - Jennifer Hillard, Director of People and Culture Why Buy Sod Inc. Chose Paycor In 2002, three family businesses came together to create a network of sod farms that operate and distribute around the country. But with ten locations and eighteen different payrolls to process, Buy Sod Inc. struggled to...

Achieve Your People Management Goals

Achieve Your People Management Goals

People management is at the heart of everything you do. But it’s easy to get overwhelmed with the day-to-day tasks necessary to keep your business running. We can help you get out of the weeds.Paycor’s core HR solution for all employee data dramatically reduces admin—you’ll never have to switch platforms, log-in to multiple systems or re-key information. We build HR software for leaders who want to make a difference. For 30 years, we’ve been listening to and partnering with leaders of medium and small business, so we know what they need.We’re here to help you build a great place to work, where people thrive and grow. Let’s get started! Take the People Management Benchmark Quiz

Webinar: Are you Scheduling Like a Pro

Webinar: Are you Scheduling Like a Pro

Our best-in class Scheduling solution coupled with Paycor's expertise and insight will allow you to take your scheduling solution to the next level - increase productivity, track labor costs and engage employees with Paycor Scheduling.Speakers: Rob Whitworth and Lyle WeissingerRob Whitworth is a Principal Product Manager for Paycor's Perform Time solution. He has been with Paycor since 2013 and has been in the time and attendance industry for 17 years.Lyle Weissinger is a Senior Product Marketing Manager for Paycor's time solutions.

How Paycor’s Restaurant Scheduling App Can Help Your Business

How Paycor’s Restaurant Scheduling App Can Help Your Business

The Most Effective Restaurant Scheduling Tool Paycor’s restaurant scheduling software makes it easy to ensure you always have your key people where you need then, when you need them. Create efficient schedules faster than ever, inform employees immediately, and empower staff to collaborate and swap shifts to solve scheduling issues. Everything in One Place: How can Paycor Scheduling help your restaurant? Effective staff scheduling is vital for any restaurant business to succeed. Managers have enough on their plates, even without keeping track of employee availability and trying to please everyone—waiters, chefs, hostesses and bartenders—with perfect schedules. Paycor Scheduling helps managers save time and money, by creating efficient...