THE SCIENCE OF RECOGNITION - How to recognise and reward employees and why it goes beyond monetary incentives

THE SCIENCE OF RECOGNITION

How to recognise and reward employees and why it goes beyond monetary incentives

Qualitative and quantitative studies conducted by the OC Tanner Institute in India revealed that the more frequently an employee is recognised, the higher their personal “customer satisfaction“ scores become. The clear connect is that frequent and effective recognition is highly correlated to increased tenure, innovation, productivity, trust and engagement.

We also discovered that employees, when recognised, have more drive and determination and are far more likely to be more connected to their organisation, have better work relationships, and a stronger sense of personal standing within the company.

Our research has also found that employee who receive strong recognition are up 33 per cent more likely to proactively innovate, and in turn generating 2x as many ideas per month compared to those who aren't recognised well. With regards to tenure, organisations that offer career achievement programmes retain their employees an average of two years longer than organisations that don't.

Currently, only 58 per cent of employees in India rate employee recognition positively. What could help increase that percentage? Public presentations and communication of recognition are critical elements, as this helps make the employee more visible to their leaders and peers.

Here are five top strategies for maximising your recognition investment: 

1 OFFER A VARIETY OF RECOGNITION PROGRAMMES.

Create opportunities for employees to be recognised for all facets of their work. Recognise career and other meaningful milestones, above and beyond performance, daily effort, sales achievement, customer service and so on. This will help employees feel like they can develop and grow their career. 

2 RECOGNISE PUBLICLY.

Involve senior leaders, peers and coworkers, and make the presentation a big deal. At the presentation, present a certificate that calls out the reason for their recognition. Many employees consider this a “badge of honour“ that they'll take home to share with family and friends, as well as include in their personal file for use when discussing future promotions. 

3 INCORPORATE SYM BOLIC AWARDS WITH THE COMPANY LOGO.

Nearly 75 percent of employees in India feel that an award at work needs to include their organisations logo in order to further communicate its meaning. In fact, employees suggested that even gift cards that include the company logo are instantly more meaning 

4 GIVE TANGIBLE AWARDS.

Whether it's a paper certificate, a trophyplaque, or another award, specific details about the achievement make for a more meaningful experience for employees, and provide the opportunity easily share it with others. 

5 PERSONALISE AND CUSTOMISE AWARDS TO REFLECT THE EMPLOYEES' ACCOMPLISHMENT(S).

When employees think of their best recognition experiences, a majority received a tangible award. Again, this helps extend the overall appreciation experience.When employees use that luggage or look at that watch, they'll have a tangible reminder of your organisation's appreciation of his or her great work.

Source | Economic Times | 17 November 2015

Regards

Pralhad Jadhav

Khaitan & Co