Small Efforts, Big Payoffs
You can say it until you're blue in the face, but sometimes it's the hard numbers that really make the case. Recognizing people for the hard work they've put in is crucial if you want to succeed, if you want your organization to succeed, and if you want to outperform your competition.
Recognition has a dramatic effect on business. Just consider these numbers from a recent Globoforce Workforce Mood Tracker, a semi-annual survey that looks at the mood and perspective of U.S. workers.
- 23 percent of those who have been recognized in the past three months plan to search for a new job, vs. 51 percent of those who have never been recognized.
- 89 percent of those who have been recognized in the past three months feel appreciated at their job, vs. 17 percent of those who have never been recognized.
- 83 percent of those who have been recognized in the past three months are satisfied with the level of recognition, vs. 17 percent of those who have never been recognized.
- 90 percent of those who have been recognized in the past three months feel that their manager effectively acknowledges and appreciates them, vs. 21 percent of those who have never been recognized.
- 76 percent of those who have been recognized in the past three months love their job, vs. 37 percent of those who have never been recognized.
And while it's wise—especially in a larger, more complex organization—to have a formal recognition program in place, recognition need not be elaborate or expensive. Sometimes a simple "thank you" or "way to go!" can make all the difference, whether you're praising an employee who put in outstanding effort, a partner who went above and beyond, a sales rep who rose far above expectations or a customer who brings you repeat business.
In addition to the importance of the recognition itself, it's important to bear in mind that sincerity matters.
Do you really mean it when you say thank you? Do you really mean it when you tell someone they've done a fantastic job?
Most people can see right through insincerity, and in today's business world, where many people have been made skeptical or even distrusting due to the cutthroat nature of the past several years, it can undermine your best laid plans.
This is why it's crucial to ensure all of your stakeholders—from the bottom up and top down—buy into the idea and value of recognition. You can't just put a program in place for the sake of putting a program in place. You need to walk the walk in addition to talking the talk.
And it's not just the C-suite that needs to get the message. Employees want to be recognized by the boss, but peer-to-peer recognition is also highly valued.
If you need help convincing your key players that recognition is valuable, you can always turn to the experts—there are plenty of professionals who have developed expertise in how to motivate, engage, reward and recognize people, as well as why these types of programs matter.
And keep reading! In this issue, we talk about the value of recognition with a cadre of experts (Recognition Roundtable), as well as how to use these tools to help navigate change (Sailing the Seas of Change) and specifically, how to boost sales performance (Ready, Steady, Go!).
So, be sincere, and be sure to recognize everyone's efforts. The payoffs make it well worth your while.