Formal recognition in the workplace is a powerful motivator and serves as an inspiration to other employees. People strive to do good work for a variety or reasons. A sense of pride in a job well done may be the most powerful force that motivates employees to work hard and do a good job. Certainly recognition by one’s management and co-workers is a prime motivator for employees to excel at their work.
All people generally seek the approval of others. A company that has a formal recognition system in place can publically give recognition to an employee who has performed beyond expectations. Typically an award such as a certificate of achievement, a trophy or a monetary award is given to an employee to show management’s appreciation for an employee’s exceptional work. Presenting this award in front of co-workers adds to the value of the award and serves as inspiration to other employees to work harder so that they may receive recognition as well.
The employee’s behavior who is receiving the recognition is reinforced and they will tend to work even harder to achieve further recognition in the future. Most importantly, being recognized by one’s management creates a stronger bond and loyalty between the employee and the company. Employees that are regularly recognized or rewarded for their outstanding performance are less likely to leave the company for another job.
This can save the company a lot of money in hiring and training a new employee to do the job. Publically recognizing employees for outstanding performance also tends to boost the morale of the entire workforce. Employees have a need to feel needed by their company and not feel like just another worker who is expendable. To treat employees as if they matter creates a happy work environment and can lead to a fulfilling career for someone and a great asset for a company. This can also result in increased productivity that will benefit the company by reducing costs.
Recognition is more than an ethereal gesture by a company to reinforce good performance. It has real meaning to the employee and adds value to the work experience and to the bottom line of a company’s financial statement. Companies who have a formal recognition system in place are generally good companies who value their most important asset – people. These companies are usually the top performing companies in their industry.
A statement sums up the value of recognition best: “Employee recognition is not just a nice thing to do for people. Employee recognition is a communication tool that reinforces and rewards the most important outcomes people create for their business”.
