The last year has been a challenging year for almost everyone around the world and the employees working in various organizations are not an exception. Employees have gone through a lot of changes at the workplace and in work culture due to the transition made from working from office space to working from home. They also had to go through a lot of stress both at the personal front and professional front for various reasons and HR consultants insist that recognizing the work of employees in such crisis is all the more crucial than in other normal times.
According to the top HR consultants, it has become imperative for the human resources department and the top-level management of organizations to analyze and plan how they are going to –
Motivate their employees to perform their best at work
Drive employee appreciation
Retain employees in their roles
Positively impact company culture
Working on these aspects is critical because managements are building connections among teams that are working remotely in a novel working world. Studies by HR consulting firms have shown that the impact of genuine employee recognition is powerful and straightforward on the way employees are motivated and appreciated thereby making them remain in the organization and improving work culture.
It is a well-known fact that employees feel motivated when they are promptly recognized for their work. It has another importance also that, when you recognize your employees, you increase employee engagement to a great extent. For this to happen, it is not just enough if you offer gift cards or cash prizes to your employees; you should be able to provide experiential rewards that are personalized to your employees’ preferences. Such rewards make an instant connection with your employees, unlike the monetary rewards that give an impersonal and transactional feel and can probably have a demotivating effect on your employees.
HR consultants opine that experiential rewards can be truly engaging and rewarding because your employees get a feeling that they are being truly recognized as to, who they are, what are their likes and preferences and they are being recognized as individuals and not just their employees.
During this pandemic period, it is all the more significant to recognize your employees promptly and appropriately as you cannot afford to lose an employee due to the mere dissatisfaction of not being recognized among the peers. It is to be understood that there’s a direct correlation between employee recognition and employee retention wherein, in organizations that do not have appropriate employee recognition programs in place, the employees feel less connected to the organization and the organizational goals and tend to look for a career outside. It is estimated by the HR consulting services professionals that replacing an employee, costs nearly one and a half times the leaving employee’s annual salary. Hence, it is required that you make wise investments in programs that help retain the top talent in your organization rather than scouting for new talent when the reliable old talent quits.
Understanding the value of employee recognition and appreciation is of utmost importance in this crisis period and you need to make every effort to retain your employees with credible rewards and awards and communicating across your work culture effectively. To identify and implement the right kind of employee recognition programs for your organization, partner with Accuprosys, one of the best HR consulting firms in Hyderabad.