Employee Recognition Programs Examples – Don’t forget to download: Global Leaders’ Guide to 20 Workplace Secrets for an Engaged Workforce
Over the past two decades, rewards and recognition have been a driving force behind the success of global companies in delivering near-perfect employee experiences.
Employee Recognition Programs Examples
In short, rewards and recognition means recognizing, appreciating and quickly stimulating the efforts of employees.
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To attract and retain top performers, you need to build a workplace culture where employee recognition is the daily norm.
According to Cicero, 69% of employees would work harder if they felt their efforts were better valued.
As companies struggle to find a way to deal with the global economic slowdown, the simple act of recognizing an employee in a meaningful and memorable way is the missing link that can increase productivity levels, reduce employee turnover and create a sense of belonging.
Workplaces are undergoing a dynamic transformation. And with the changing scenario, HR functions are evolving massively.
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The main agenda is to design a more employee-centered work environment where the needs of each employee are considered noteworthy.
Employee recognition is not just a task that managers check off their to-do list. On the contrary, providing timely rewards and recognition should become a natural part of the company culture.
When employees feel appreciated for their contribution and work, it instills a sense of loyalty to the company.
They do not perceive recognition as an unforgettable matter. Today’s mature workforce feels valued for doing great work.
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Attracting, retaining and satisfying the new wave of workers requires recognition in a way that appeals to them.
Although you will find the terms “rewards” and “recognition” used interchangeably, they are anything but the same.
The rewards are tangible. Rewards are mostly cash or have some cash value that can be attached.
Rewards are transactional in nature. For a given input, you get an output in return. So rewards are a great way to attract top talent to your organization.
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Recognition has a relational nature. It is a form of building an emotional bond between employees and the organization. This makes recognition an ideal way to retain said top talent.
The rewards are economical considering you get a much higher return in terms of productivity and ultimately business profits for investing in such small amounts of resources.
Recognition is an emotional, psychological event of feeling seen, appreciated, and important. Adequate recognition has the power to motivate even the most dormant employees.
If you don’t create a great and valuable place for people to work, they won’t do great work. ~Ari Weinzweig
Employee Recognition & Appreciation Awards Wording Ideas [+ Examples]
Before we move on to how and why to foster a culture of appreciation in the workplace, let’s take a look back at seven distinctive benefits of reward and recognition in business:
Corporate culture is a combination of corporate vision, goals and ideologies for the greater good.
An appreciation-based work culture builds trust and respect among members of the workforce. Employees gain a way to recognize and praise the strengths and unique qualities of their colleagues.
Implementing a culture of recognition in a structured and meaningful way ensures employees that their hard work and efforts do not go unnoticed.
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Reward programs give managers a way to connect with employees and send them greetings. It helps both parties to bridge the gap between them.
When recognition (especially peer recognition) becomes the norm in a company, camaraderie is created and team spirit is strengthened.
Recognition of employees inspires them to autonomy and mastery in their work. They are proud of their work and contribution to the company’s success.
Although many factors lead to an employee’s decision to leave a company, employee satisfaction is key.
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When you take care to properly recognize your employees, they will be emotionally invested in the work and the company as a whole. Naturally, they tend to stay longer.
Recognition helps build a strong brand identity. Recognition promotes good relationships and helps create a lively atmosphere in the workplace. This in turn helps promote employee advocacy.
This presents a problem for companies with a large employee base, where it is less feasible for a leader to reach out to each employee and congratulate them on their daily achievements.
Constructive use of technology has made it easier to reward and recognize work in a simpler, faster and more timely manner, thus simplifying the entire process.
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Implementing a digital reward solution provides an environment where employees can be recognized for the high quality of their work potentially the moment it is completed, rather than being left with a ‘good job’ note on their desk a month after the project is complete.
As data becomes more critical, the R&R platform allows you to gain insight into how recognition is impacting employee performance in a lasting way.
The right data will help you identify the top contributors in your teams, making them easier to recognize.
It will also help you identify areas where they perform particularly well and areas that don’t seem to be helping to increase overall engagement.
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Each differs in various factors, such as the number of employees and leadership roles, which means that recognition must be flexible to accommodate multiple parameters.
Panel award is a multi-level approver award system implemented in the Vantage Rewards platform. The award is valid for a specified period of time during which a panel of selected approvers can vote for the nominated employees.
Panel Awards ensures that rewarding an employee is a process in which managers and leaders can actively participate. In addition, it gives employees a fair and equal chance to win.
Rewards and recognition should not be limited to top performers. It must involve all employees within the company to build a sense of belonging and increase motivation to do better.
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A dedicated R&R platform helps make everyday tasks like bug fixing or timely tracking a recognizable task.
The ability of modern reward and recognition systems like Vantage Rewards to easily integrate with team collaboration tools like Slack, Microsoft Teams, etc. has made colleagues appreciate each other on the go.
Appreciating a team member while working on a project remotely can be just as easy as in a collaboration app. It ensures that peer recognition is not only encouraged but practiced by the workforce.
Likewise, make sure your chosen rewards and recognition platform can be easily integrated into your HRMS and allows for seamless integration.
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Traditional methods make it difficult to instill company values in a consistent and continuous manner throughout the workforce. This is especially true for companies that have branches in several countries around the world.
The use of technology has led to a faster and more efficient way of recognizing employees, making rewarding employees on the spot a reality.
Some reward and recognition platforms, such as Vantage Rewards, offer organizations the ability to reward their employees in other countries through SOLI. This ensures that employees worldwide can earn or redeem reward points that match their achievements.
This makes appreciating global employees a simpler task and communicates the organization’s value to the entire workforce.
Employee Engagement At Work: Definition & Examples
Today’s workforce doesn’t just depend on their computers to stay connected. Mobile phones, tablets, Kindles have gradually taken over humble laptops and desktop computers.
The main driver behind the above change is the need for accessibility. Similarly, the success of a rewards and recognition program depends primarily on whether it is available for multiple platforms (ie, mobile apps) and multiple devices (Android, iOS, etc.).
Time required to start the program. Management of additional documents. The Problem of Distributing the Rewards of a Global and Diverse Workforce.
These “hidden costs” make a manually run R&R program more expensive than it first appears. As a result, companies write off such engagement measures as unsuccessful or impractical and will not attempt such a thing again.
Enriched Rewards And Recognition Programs
The solution? Any good rewards and recognition platform like Vantage Rewards will help alleviate the issues above and give you a simple budget allocation that fits your organizational needs.
The best part? The only problem you have to worry about when using an external reward and recognition platform is selecting the employees you want to recognize.
Appreciating colleagues is an incredible motivator for everyone, including your employees. A small but practical feature called Service Yearbook will prove to be the perfect recognition idea to facilitate and encourage peer recognition in your organization.
The Service Yearbook is a Vantage Rewards feature that allows colleagues to collect and share pre-service anniversary memories in a customized online yearbook format.
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This “secret gift” is revealed only at the work jubilee itself, where one sees the significance of the role one has played during those years of service.
In today’s diverse and high-performing workforce, employees seek and want to be recognized by their colleagues at work.
The mutual recognition program opens up an excellent opportunity to create a corporate culture of more intensive communication. Overall, it helps the company to value everyone’s opinion.
Recognition Programs For An Inclusive Employee Experience
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