The magic of appreciation and recognition in organisations
It's up to you how you shape your organisation's culture. Regular appreciation and recognition are pure magic when it comes to creating a healthy culture. And this happens only when the practice of appreciation and recognition flows 360 degrees in the organisation. American research-based, global performance-management consulting company Gallup found that recognition is an important psychological need. Employees who know that they will receive recognition for acting on the brand promise will have a strong incentive to do so.
The traditional autocratic mentality of organisations is no longer suitable for most types of businesses. It is not so difficult to shift towards a culture of appreciation and recognition. If you can make managers understand its necessity in serving the organisation's values and vision, it is just a matter of time before the word spreads all throughout. Motivation through recognition and appreciation leads to better employee productivity and higher dedication towards service.
SHRM/Globoforce Employee Recognition Survey has further found that 41% of companies have seen marked positive increases in customer satisfaction that use peer-to-peer recognition. Not just that, peer-to-peer appreciation is 35.7% more likely to have a positive impact on financial results than manager-only recognition.
It's good to have strategic and planned monetary recognition programs, but non-monetary recognitions and habitual appreciations can also turn out to be a very effective tool for employee motivation. According to McKinsey & Company, praise and recommendation from managers were rated the top motivators for performance, beating other non-cash and financial incentives. Compliments, a smile, a thank you, a meal out, a letter of appreciation, sharing a book, a box of chocolate, a theatre/film ticket, an invitation to coffee or lunch may all sound very simple, but they can turn your most de-motivated and frustrated employee into a real superhero. In fact, Forbes says that companies which give regular thanks to their employees far out perform those that do not.
Organisations with recognition programs that are highly effective at enabling employee engagement have lower voluntary turnover than organisations with ineffective recognition programs. As mentioned earlier, it is important to ensure that the culture flows 360 degrees. So, what are you waiting for? Start with yourself: appreciate the good work of your colleagues and channel the flow from yourself to the rest of the organisation. Sit back and enjoy the fruits of your labour.