Top 6 Reasons to Implement a Rewards and Recognition Program
Rewarding and recognizing employees leads to greater employee engagement, which increases retention and helps create a more positive overall workplace.
Incorporating a rewards and recognition program helps increase employee engagement, leading to many benefits for the company, like increased productivity and retention. In one survey, employees cited personal recognition as the top way a manager or company could get them to produce great work.
Recognition initiatives are effective because they focus on the positives, sending employees a clear message that what they’re doing matters. Rewarding great performances and successes with things your employees want will keep them focused and driven to do better. These programs encourage employees to set and reach goals, whether daily, weekly, quarterly, or annually.
So, why start a rewards and recognition program? Doing so will:
- Increase motivation
- Show appreciation
- Encourage friendly competition
- Improve productivity
- Boost employee retention
- Create a positive workplace
Let’s dive deeper into each of these points.
1. Increase employee motivation
Offering recognition and rewards for employee performance will boost motivation so workers stay on track and maintain a positive attitude. These programs encourage collaboration and give employees something to work toward. When they receive a reward for doing something right, they’ll be more motivated to do it again and again.
2. Show appreciation
Employee satisfaction just isn’t possible without showing teams how much you appreciate what they do. By recognizing wins, you’re sending a direct message that they matter to you and to the company as a whole. This helps employees feel seen, heard, and valued, which are all required for satisfaction at work. Appreciated employees are happy employees who want to work hard to help the company grow and succeed.
3. Encourage friendly competition
Rewards programs support feelings of friendly rivalry among workers. Workers will start to compare their performance to each other and strive to do better next time. When they’re finally at the top of the list, they’ll feel accomplished and everyone on the team will want to get there.
Communicating with the entire company about one person’s or team’s success increases awareness and encourages employees to give it their all.
4. Improve productivity
Employees are more engaged at work when their successes are recognized, either verbally or with a reward. Teams of workers who are trying to reach goals are more productive, as they become more efficient with their time and energy to reach those goals and see actual results.
When employees are more invested in what they’re doing and take pride in it, they’re empowered to take control of their tasks and more likely to complete them on time. They’ll make sure that the work is high-quality when they’re being measured against other employees or working toward a reward.
5. Boost employee retention
Satisfied, engaged employees are more likely to stick around. One survey of HR professionals showed that 68% of them said that their recognition programs positively impact employee retention. That’s because employees want to work for companies that value them and show that appreciation with tangible actions.
Incorporating rewards and recognition is the kind of action that will retain more employees, contributing to the long-term success and growth of the company.
6. Create a positive workplace
Teams comprised of satisfied, motivated, appreciated employees are not only more productive, they’re also more positive. And those feelings are contagious, leading to a better overall workplace of enthusiastic and fulfilled employees.
Company culture is one of the most important components of a successful business. With rewards and recognition initiatives, engagement, satisfaction, motivation, and collaboration are all encouraged. And all of these components work together to create a flat-out great place to work.
Employee rewards and recognition with Crewhu
Ready to get started recognizing your employees? Crewhu is here to help you begin. We are the first platform on the market to integrate customer service management with employee recognition. These two aspects of your business are related and ensure that all moving parts are balanced moving forward.
Collect employee feedback so you better understand your teams, and track and reward employee performance with Crewhu. Create company or team goals and recognize your individual employees for hitting those targets.
The Crewhu Café feature in the platform ensures that everyone can view positive feedback and recognition, always giving the worker credit for a job well done. Integrate contests to encourage fun competition among team members when using our platform.
Contact us to get started and download our 3 Cornerstones of Employee Rewards Guide for more tips about recognizing employees.