Employee engagement - Reaping the rewards of recognition
Recognition is a vital component of an organisation's total rewards programme and is instrumental in reducing employee turnover, increasing productivity and creating a positive work environment. When employees realise their contributions to a company's success are important, they are more likely to embrace the organisation's mission, goals and values.
As such, it is essential that the recognition scheme defines, acknowledges and reinforces behaviours which support the strategic aims and cultural values of the company. This creates a positive feedback loop which drives overall business performance.
Investing in employee recognition and rewarding success leads to more motivated employees which in turn increases performance in key business areas. This results in increased profitability and growth.
What does recognition encompass?
Recognition is a multi-faceted discipline and can include both formal and informal elements. In essence, it covers any activity or initiative which acknowledges employees' efforts to support the business strategy. A whole range of initiatives can be combined to create an overall recognition programme.
Recognition initiatives, such as thank you messages from peers and managers, regular employee awards and rewards for achieving KPIs, help improve employee engagement.
Recognition just keeps giving
It's hard to ignore the importance of recognition - it's so simple, yet drives so many benefits. Companies who spend at least 1% of their payroll on recognition see a positive impact across multiple business areas and, ultimately, on employee engagement.
Employee recognition initiatives result in a positive working environment, with increases in loyalty, productivity, teamwork and business performance.
Active are experts in delivering employee engagement and recognition programmes. Our online recognition platform provides a comprehensive range of modules to help you build a successful reward and recognition strategy for your organisation. To find out more please contact us.
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