Whether you manage a whole office, a small sales team, or a mass of architects and engineers, your employees do the jobs that allow you and your company to succeed. Understanding how employees feel and how they’re motivated is essential to creating an award or incentive program to keep them engaged and make them feel appreciated.
What Human Resources Studies Have to Say About Employee Dynamics
About 1/3 of companies in the US have significant trouble with losing their best people because they don’t feel engaged or appreciated. And over 60% of employees are so disengaged from the company’s identity they don’t even know its mission statement.
As far as reward programs go, the statistics on their successes are pretty compelling. A recent study showed that 93% of employees want to be recognized quarterly or more, but only 43% of employees reported satisfaction with their company’s recognition programs. From the company’s perspective, about 50% of employees say they feel satisfied in their jobs, but that number increases to 75% in a workplace with a recognition program.
How Goals Make Employees Feel More Involved
Giving your team goals to work towards increases employee engagement. It involves them in the processes of the company, which makes them feel more a part of the procedure and how progress at your company works. Employee recognition programs can include staged incentives. If you celebrate the small moments along the way to a goal, your employees will remain engaged. Simple items like personalized trophies and awards, or matching engraved name plates for the whole team can make a big difference in motivation.
Tips to Make Your Rewards Effective
- For easy implementation, make sure your platform is compatible with your HR platforms.
- Make sure to pair rewards with recognition.
- Keep a short timespan between when you promise something and when you follow through.
Designing and starting an employee recognition program may seem daunting, but if you make sure you’re in touch with what your employees want, it’ll make it easier. Following these simple principles and consulting your HR department will make the process easier, and your program will be more likely to succeed.