If you do a quick Google search for “employee recognition tips,” you will find no shortage of articles providing useful information on how to retain top-notch talent. To stay on top of the latest developments in this space, I always peruse said articles to determine how the evolving workforce wants to be rewarded.
Some of the more recent articles I’ve read have centered on simple ways you can show your employees you appreciate them, and I thought it would be the perfect time to readdress the topic as employers are always looking for fresh ideas.
In case you need a refresher on why recognizing your employees is important, here you go: The more employees are recognized, the more they are engaged and invested in your company, which drives them to produce great work thereby benefiting your bottom line.
It seems like a no brainer that management should put in the time and effort to appreciate their employees, especially with statistics like these: 75% of employees who were recognized by a manager once a month reported being satisfied with their job and 85% who were recognized once a week reported being satisfied, according to a 2016 Bamboo HR study.
Employee loyalty and satisfaction is driven by how appreciative your company is of their hard work. However, it’s not enough to just say, “Good job, Michelle!”
Today’s workforce has an array of expectations when it comes to being appreciated and recognized, especially when you throw millennials into the mix. What exactly are those expectations? I’m glad you asked.
Here are three ways your employees truly want to be recognized and rewarded for their hard work and dedication:
1. Time Off
Here’s a scenario: Your employee has been preparing for a big presentation during the last month. In addition to preparing for this big project, your employee still had to maintain his or her daily tasks. If your employee is faced with this scenario, it is highly likely that he or she has had a pretty stressful month.
Chances are this employee could use some extra time off, no questions asked. I am willing to bet that they would love nothing more than a breather for a job well done. It will show that employee how much you appreciate their hard work, which is all employees want at the end of the day, regardless of generation.
Many companies are moving in the direction of unlimited vacation time, but as many articles have pointed out, employees don’t always take advantage for a variety of reasons such as feeling guilty or not wanting to get behind on work. If you want to truly encourage your employees to take time off (especially after a stressful month) offer them a once-in-a-lifetime vacation. For inspiration, read our blog from June about companies that are insisting employees go on vacation by providing them with perks like a stipend.
2. On The Spot
When implementing a rewards and recognition program at your company, it can be easy to draw up a formulaic “tier” for recognizing employee, as it avoids confusion among management and employees. However, “selling” recognition by coming up with a checklist of things employees need to do to be recognized and rewarded could rub some employees the wrong way, especially millennials.
It’s best to have a program that ensures your managers know it’s imperative they recognize their team for a job well done. Then, weave in “on-the-spot” kudos to show your employees you notice the small things they do as well. Better yet, encourage peers to recognize one another for the little things, too.
If your office has room for it, try implementing a Wall Of Recognition to inspire and empower employees to celebrate each other’s victories. To take it a step further, at the end of the quarter, take each of those notes of recognition and put them into a drawing for gift cards (have one for 1st, 2nd and 3rd place i.e. $15, $25, $50).
3. Social Media Recogniton
When I asked around the viperks’ office about how my colleagues would prefer to be recognized, we of course all came to the conclusion that food and money are the ways to our hearts. However, we began discussing how cool it is to be recognized on a public platform such as Facebook or Instagram.
Social media is a great way to recognize your employees and show the world how much you appreciate them. For instance, if your company recently completed a website overhaul or implemented an employer branding strategy, let the world know by acknowledging star employees in a public way. Chances are said employees will be inclined to share the kudos on their personal Facebook or Instagram pages, thereby increasing reach and exposing the company to a whole new audience.
Additionally, celebrate your employees’ wins by adding a new column to your company’s newsletter. It’s just one more way to publicly recognize their accomplishments and hard work.
How viperks can help
Of course I can’t end this blog without reminding you that viperks’ employee-only, discount shopping platform is an easy (and cost-effective) solution to help drive loyalty and appreciation at your company.
Believe it or not, millennials are more likely to see the importance of financial wellness programs than workers who are 50+ (91% versus 82%), according to Harris Polls. viperks helps employees stretch their paycheck by providing an exclusive online shopping experience guaranteed to be cheaper than Amazon. It’s purpose is to save your employees time and money, thereby improving their financial well-being.
viperks is easy to use and simple to launch. All you have to do is follow these two steps:
Step one: Provide all your employees’ names and email addresses, your company’s mission/vision/core values and logo with company colors to viperks’ customer experience manager.
Step two: Sit back and in two to three days your private online company store will be ready to launch. viperks creates all the launch announcements with instructions on how employees can activate their free accounts. Did we mention there is no on-going administration work?If this sounds like a great solution for your company, we’re here and ready to talk. Let’s schedule a demo today so we can show you around the platform一and show you how easy it is to use.