Revitalizing the Employee Recognition Strategy
The term quiet quitting has emerged recently as a post-pandemic trend for employees who are burned out and actively choosing to the bare minimum. It’s just a fancy way of saying that employee engagement is taking a nose dive.
Companies that routinely rank high in employee engagement are committed to fostering a great workplace where culture is seen as a business imperative in both good and challenging times. It’s more important than ever that employees feel connected, appreciated, and recognized for their efforts. That’s where a sound employee recognition strategy can make a difference in overall performance and workplace culture.
Employee recognition programs should be a vital component of every company’s employee engagement strategy. It’s a smart retention approach that’s also good for the bottom line.
Studies show that businesses with formal recognition programs have approximately 30% less voluntary turnover than those without them. And they’re 12 times more likely to have strong business results.
But often recognition programs encounter two problems.
A new recognition program may start with hoopla, but as time goes by, suffers from diminishing visibility. Without consistent internal marketing to employees and continuous leadership sponsorship, the recognition program loses participation and effectiveness.
Recognition should be clearly aligned with a company’s purpose and values so that there’s a common language for what success looks like. When behaviors and achievement are linked, it sends a clear message of consistent, visible recognition across the business
It’s a virtuous cycle. When people are recognized for their contributions, they perform better, trust grows and so does workplace culture.