Retaining Employees Through Recognition Plans

Retaining Employees Through Recognition Plans

The job market has changed in the last 20 years. We could ask our grandparents what kind of dreams they used to have related to a hard-work life; baby boomers generation used to think of stability like a part of job definition. Individual that were born between 40´s and 60´s could reach their dreams when being a part of job opportunities, coercitive work atmosphere and consistency, but nowadays the rules have changed and the labor market has different scenarios.

For today’s generations creativity, work time and individuality are considered values in jobs and that´s why acknowledgment is a very important issue in the employee-company relationship. It is imperative to express that the company’s goals are achieved because of the sum of all employees efforts, from janitor who helps to organize and keep control on the first floor area to the CEO who decides the fundamental strategy that the company must follow- every single effort helps to build what the company is and where it will be in the long term.

It is a fact that organizations who make recognition a priority are highly successful and it also helps to maintain resignation rate low. Remember how expensive is to recruit and teach new personnel, that is why recognition and acknowledge programs are a must for every organization.

There are basically two types of recognition: formal recognition, which supports the objectives and strategic goals of individual departments or units and it´s usually in the form of rewards of service, contributions and achievements; and Informal recognition, that can be used everyday to acknowledge contributions of individuals , teams and work groups, usually showed up by a pat on the back or a word of praise in the front of the team which can go a long way in boosting the morale of employees.

If we want to develop a formal recognition program we have to take into consideration these seven steps:

1.- Establish goals and purposes of the recognition program.
2.- Create a committee.
3.- Set criteria and guidelines.
4.- Determine eligibility and frequency.
5.- Determine budget and awards.
6.- Communicate to your employees
7.- To Establishment and monitor the program.

Of course every organization has its own requirements and needs, but the most important criteria is to get the employees satisfied with their jobs so the recognition programs can be a common practice in your organization.

Employees can be recognized for both individual and group achievements. When recognizing a group of individuals, it is important for each person to be distinguished for their own contribution.

Group recognition contributes to team building and informs the group that together, they are valuable to the organization. To be effective, employee recognition must be sincere and heartfelt. Employees will sense if their efforts are acknowledged only out of duty or if comments are lacking on sincerity.

Acknowledgment of effort and accomplishments must be timely in order to be effective. Remember that each person has their own preferences for how they want to be recognized – what one appreciates could be a real turn-off for someone else, therefore it is imperative to know your employees and be empathetic with them.

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