"58% Of Employees Feel They Don’t Have A Healthy Relationship With Their Leader"
Effective leadership shapes the employee experience, engagement, and wellbeing, all which are critical to achieve a thriving workplace culture. Employee experience can improve the most with employee recognition. Recognition ensures every person in your company feels appreciated and valued.
Importance & Impact of Employee Recognition
According to Zubin Zack, Managing Director – IMEA Region at O.C. Tanner, "Recognition directly impacts productivity. If you can make the employees feel valued, bring in a sense of belongingness and connect them to the company's purpose, you, by default, increase the effort the employee puts into making an impact. Recognition done correctly has a positive impact, and it says that working hard or going above and beyond does matter to the organisation. If we fail to recognise the great work done, it will have a multi-fold negative impact on productivity."
There are many benefits of employee recognition, some large and some small. Recognition's four most significant benefits are increased productivity, increased engagement, increased retention, and improved company culture.
Productivity
Employee recognition supercharges employee productivity. Humans have an innate need to be seen by and receive praise from others, and employee recognition does just that. Wouldn't you work harder if you were publicly recognised every time, you did great work?
Engagement & Retention
Recognised employees are more engaged employees. When employees feel acknowledged and appreciated by their place of work, they are more likely to develop the mental and emotional connections needed to be engaged.
Research on retention has shown repeatedly that employees who feel valued are less likely to leave their employer. When you genuinely appreciate employee’s contributions and effort, they're more likely to stay with you for the long haul.
Employees who develop strong connections and trust their leaders, genuinely feel that their leaders care about them as people. They’re also 11x more likely to stay with their organization for at least another year and 3x more likely to stay for three more years.
Company Culture
Besides incentivising achievement, employee recognition allows employers to reinforce behaviours they find valuable. Good culture is essential for inspiring great work and helping organisations find business success. Research shows that organizations that have a great culture are 29% more likely to have employees innovating and performing great work.
Leaders As Recognition Champions
"I would not say "Recognition Champions," but they should make Recognition as part of their leadership style. Leaders should look for good and amplify great work. Leaders should think of it as a way of being, and it comes over time if not natural to some. We do not want the leaders to be totally different and do things which are a step above or beyond something that others cannot do. Whatever the leaders do and the way they do it should be duplicatable by everyone," claims Zack.
All extraordinary pioneers share similar characteristics. One of these is employee recognition. Nearly 90% of employees have high trust in a leader who recognizes their accomplishments, compared to 48% who feel the same level of trust without recognition.
Truth be told, 58% of employees feel they don’t have a healthy relationship with their leader. Modern leaders perceive that every employee is making an interesting commitment to the overall team and culture of the organisation. Therefore, when recognising an employee’s contributions, it is important not only to say that you recognise it, but also to formalise it with a physical and lasting memorial for their efforts. Recognition from leadership boosts employee morale and sets a model that helps build a great workplace culture.
With Culture Cloud Recognition from O.C. Tanner, leaders can help ensure that all employees are recognized for their ideas, work, and efforts they put in every day.
Click here and request a Culture Cloud demo today.
