As a leader in your industry, recognizing the hard work of your employees is essential to promoting not only the sales and public image of a company but also to increasing the morale and overall drive of the team. Taking the time to give awards for the good that a worker is doing can be the difference between company growth and simply falling apart at the seams.
What is it about giving consistent corporate recognition that has such an impact in the business world? Here are four reasons every top executive should include corporate level employee recognition as a regular part of each fiscal year’s “to do” list.
Recognition Goes the Extra Mile
You may think benefits like healthcare and retirement are enough to keep your team happy, but the truth is in today’s competitive market, these benefits are only the beginning of what people are looking for. The way you treat your employees is what really matters in the end.
Do they feel valued? Do they have room to grow (personally and professionally)? Do they agree with the company values and corporate culture?
Your job as an executive is to answer these questions for each employee you supervise. Which employees need more than just financial compensation? The answer is simple; it is everyone.
Recognition Is About Pride
Most workers are not interested in doing half of a job. Instead, they want to give 100% of their energy and their efforts, simply for the sake of seeing “their” company succeed.
Take note of one particular part of that statement – their company. Recognition is about realizing that the best employees take ownership of the business they are working to keep running. It is acknowledging in creative ways (whether through custom awards, trophies or simply through the everyday overall benefits offered to each person) that you are all on the same team. Your employees are the MVP’s you don’t want to lose.
Recognition Is for Everyone
Employees know that corporations are only as good as the people doing the so-called grunt work. The janitors and office assistants of the world want to feel just as valued as the top-level lawyers and CEOs. So when you are deciding what your corporate recognition is going to look like, do not overlook the backbone of your company. They are often the glue that holds everything together and corporate recognition may just be the thing that convinces them to keep working hard.
Recognition Shows That Management Has a Heart
You know that upper management gets the blame when problems come knocking. But did you know that satisfied employees consider having quality, character-driven leadership just as essential as top notch healthcare?
As you consider where to shine the light of corporate recognition and how to keep the best and brightest of employees on your payroll, take a close look at your management team. Do they reflect the character and values of the company? Are they walking the walk on a daily, consistent basis? Do they lead with a confidence in their team’s abilities?
If you cannot say yes to these questions, some serious reevaluation may need to occur – and some quick recognition to your hardworking team needs to take place. No one likes to see a business fail. In an ever-fluid economy, the importance of maintaining a high level of satisfaction among employees is critical to the long-term success of every corporation. With that in mind, take the time to assess how your company will benefit from providing true recognition to those who deserve it most.