To get the most out of your employees, you must keep them engaged at work. The question this poses however, is how can you achieve this?
Employee recognition schemes are becoming increasingly popular in businesses and by making your staff feel more valued it can drive a significant improvement in their commitment and performance in the company.
These schemes don’t need to be pricey and can involve as little offering a bit of praise to your staff, or publicly acknowledging hard work. The benefits are likely to outweigh any cost in the long run anyway.
This infographic by our friends at Terryberry outlines just how important employee engagement is for the success of a company and some simple cost effective ways that you can implement an employee recognition scheme in your organisation.
- Keeping your employees engaged can have a multitude of positive implications for the company. The results of good employee engagement can be an increased level of productivity at work, a lower turnover of staff and higher profits and customer satisfaction.
- Employee recognition schemes can help to achieve these results and 46% of senior managers consider them an investment, rather than an expense due to the positive outcome, and 41% of companies who use peer-to-peer recognition report higher customer satisfaction.
- As little as a 1% spend from payroll on employee recognition can see a positive influence on engagement, and praise and commendation from managers was voted as the best motivator for performance at work.
- A mere 13% of employees worldwide are engaged at work, so there’s definitely room for improvement. North America has the highest proportion of engaged workers at 29%, followed by Australia and New Zealand at 24%.
- Some low cost ways to start employee recognition are acknowledging hard working employees in a newsletter, thank you cards, face-to-face meetings to express gratitude and issuing awards to mark achievements.