When it comes to managing their most important asset, the people who work for them, many modern companies continue to rely on antiquated forms of Employee Recognition Programs.
More than half of employees polled claimed that the acknowledgment they receive at work feels like an empty gesture that is not relevant to them.
This begs the question: why utilize out-of-date employee recognition if you’re not going to use obsolete technology?
In the same way, technology has developed, so too have our society’s values, difficulties, and demands evolved employee appreciation.
Let’s look at why modern employee recognition programs are loved by companies and what your firm can do to adapt to them.
How can we make recognition more relevant in today’s workplace?
“Make an effort and make it personal” is the simple response.
It takes effort to make someone feel special in a relationship, just as in any other.
Since you must make sure that every one of your employees feels valued, respected, and irreplaceable, the interaction between you and your employees is on a much broader scale in your case.
1. Provide a broader spectrum of acknowledgment
Diversifying your program is one of the simplest and most effective methods to boost employee recognition.
It would help if you did not persist with the traditional concept of compensating people based solely on their output but instead emphasized three aspects: celebrating careers, awarding results, and motivating effort.
Even though each of these areas of employee appreciation is critical and has a distinct impact, only 38% of companies accord equal weight to all three.
As a result, 55.78% of HR leaders said their programs provide “great” value when combining these two areas.
2. Specify a reward for each kind of recognition
There is one area in which companies should exercise caution while listening to their workers: the workplace.
If employees are asked how they would like to be rewarded, they often say “cash.”
As a result, many organizations continue to use money as their primary method of rewarding employees.
It’s a concern since cash is impersonal, is used for non-award products, and is rapidly spent and forgotten.
Cash was not even in the best three award types across all recognized areas for “great” value.
Awards and other meaningful gifts, on the other hand, triumphed every time.
As a quick guide to the different sorts of recognition and the finest rewards:
- Publicly presented “Years of Service” awards are given to employees who have worked for the company for a long time.
- A handwritten note, an email, or a genuine “thank you.”
3. One-on-ones are a great way to connect with and reward your staff
The yearly review is sometimes the only opportunity for a manager to interact with an employee under an outdated recognition system.
However, 46 percent of modern employees say that regular one-on-ones help them feel more valued.
When managers are taught how to conduct one-on-ones, that number rises tremendously.
Individual one-on-one meetings are better for interacting with workers and recognizing their achievements than a weekly performance review.
4. Make recognition a shared experience for everyone
It was supposed to keep everyone in their lane, and only leaders had the authority to award accolades in an old-fashioned workplace.
On the other hand, the modern workforce prefers to work in a more social environment where appreciation and teamwork are emphasized.
Peer-to-peer meetings have been shown to increase staff retention by two times.
Make the most of this by creating a business culture that encourages employees to celebrate rather than compete with one another.
To maintain the freshness of your employee recognition programs, here are some tips
Employee Recognition Programs may change, but there will always be methods to keep it new.
Things like staff surveys, adaptable systems, and recognition technology are excellent starting points.
Learn how to stay on top of employee recognition by following these simple steps.
1. Leaders should be taught to listen to their subordinates
There are no two workstations that are exactly alike. There are a lot of variables at play when it comes to what works best for one organization and what doesn’t work best for another.
Encourage your managers to talk to their team members about your recognition program so that you can tailor it to their specific needs.
2. Keep your recognition systems open-ended
We’ve previously observed that many outdated recognition programs go awry because they stick too closely to approaches that worked in the past.
Keep your rewards and recognition programs open to change to avoid this in your firm.
3. Use electronic systems for recognition
Making recognition mobile is becoming a need because the internet has increased the number of jobs available.
To guarantee that all of your staff feel valued, use modern technologies to communicate with them.
4. Decide to outsource your reward program
Because many businesses are only starting, they don’t require an extensive reward system.
As a workplace grows, administering a more comprehensive program gets increasingly difficult.
According to a recent survey, when it comes to delivering “great” value, only 37 percent of decision-makers said their in-house program outperformed external vendors 65 percent of the time.
Ask yourself if you need external help to both update and administer your recognition program.
When you work with a competent employee recognition organization, they can help you design a long-lasting recognition program.
5. Check out the latest recognition trends and keep up to date
When it comes to employee appreciation, you should always look for new and innovative solutions. However, the good news is that you’re already doing this!
Recognize the most recent cultural trends, barriers, and possibilities with the help of tools such as the Bravo!
Read More: How To Build Your Employee Experience Strategy With BRAVO?
The Final Takeaways
- Create customized reward schemes for each employee instead of relying on a single award for everyone.
- Replace monetary incentives with meaningful awards for your employees.
- Set aside time for informal one-on-ones in addition to the annual performance assessment process
- Make the shift from a competition-based reward system to a community-based one.
- Lastly, don’t forget to check out our modern Employee Recognition Programs and reward platform, Bravo!
Book a demo now!