Many successful employers will tell you that their most important assets are their employees. And many of those same employers will also likely tell you that the most important part of rewarding their employees is providing them with fair and robust total compensation, a positive philosophy of teamwork, and a culture of gratitude for a job well done. Thankfully, for companies doing business this way, the days of getting a paycheck every Friday as sufficient “thanks” for doing your job are history.
To remain competitive in today’s marketplace, successful companies want ― and need — to attract and keep the best talent and offer work environments and total compensation packages that include:
- Salaries that are competitive and fair to all employees regardless of demographics
- Thoughtful benefits that support employees at work and at home
- A positive culture where teamwork is fostered
- Employee recognition programs (ERPs)
As a professional director of recruiting for TrainingPros, a specialized staffing firm in the learning and development (L&D) industry, my cohorts and I understand this phenomenon. We continually endeavor to create a culture of teamwork and gratitude, and we make a point to reward good work and celebrate informally and formally through recognition programs.
From our experience, these programs have proven crucial in creating a positive work environment, boosting employee morale, enhancing productivity, and increasing employee retention.
Why Do Employee Recognition Programs Work?
ERPs work because they do these five key things:
Create a positive work environment.
When employees feel valued and appreciated for what they do, they are more likely to enjoy coming to work, have a positive attitude toward their colleagues, and be more motivated to achieve their goals. This positive atmosphere can lead to increased productivity, decreased absenteeism rates, and, ultimately, greater success.
Help to boost employee morale.
Studies have shown that employees who receive regular recognition are more likely to feel engaged and committed to their work. They are also more likely to feel a sense of pride in their work, which can translate into better performance and job satisfaction. Furthermore, recognition programs can help reduce employee stress levels and improve their overall mental health and well-being.
Improve employee retention rates.
When employees feel appreciated and valued, they are likelier to remain loyal to their employer and stay with the company longer. This, in turn, can lead to lower turnover rates, reduced recruitment costs, and increased productivity as experienced employees remain in their roles and continue to develop their skills and knowledge.
Attract top talent to the organization.
Employees who feel valued and appreciated are more likely to recommend their employer to others, including potential new hires. This positive word-of-mouth can help attract high-quality candidates looking for an organization that values its employees and rewards their hard work.
Reinforce the organization’s values and culture.
By recognizing employees who embody the company’s values, organizations reinforce the importance of those values and encourage other employees to follow suit. This can help create a more cohesive and unified team, improving collaboration and teamwork.
Extending the Recognition and Appreciation
In addition to the work your employees do that’s deserving of recognition, consultants, contractors, and clients also contribute to the success of your business. Letting them know you appreciate them is important, too.
For example, TrainingPros spent three months preparing for our own consultant appreciation week held in May. These consultants show up every day to work hard for our clients. And since we are grateful for the excellent work they are doing — and for sharing our goal of serving clients — we let them know how much we appreciate them. We are a creative bunch at TrainingPros. So we gave away swag bags, wrote specifics about what consultants were doing, produced video kudos and shout-outs, offered free sessions to update resumes, and hosted a special webinar.
People thrive when they are recognized, supported, and appreciated. So whether you offer employee recognition programs or express appreciation for your extended success team of consultants, contractors, and clients, spend time putting the focus on them. There’s an additional benefit for you in that it feels good to let others know you are thankful for them.
Michele is a seasoned director of recruiting with more than 25 years of experience in the staffing industry. Since joining TrainingPros in 2010, she has successfully helped staff thousands of learning consultants in multiple industries. Michele is highly respected within the staffing community for her exceptional leadership skills and ability to build strong relationships with clients and candidates. She earned a master’s degree in human resources from Mercy College in Dobbs Ferry, New York.
TrainingPros has served the training, eLearning, and technical writing communities by providing qualified L&D consultants to clients on a contract basis. In addition to staffing services, TrainingPros provides custom eLearning and instructor-led training development for companies through managed services. For more information, visit trainingpros.com