Today’s article is all about The Power of Appreciation at Work. How we analyze it, its benefits and how you can apply it at your work today.
Appreciation is an essential part of human needs. We want to be appreciated for who we are, what we do and what we achieve. Whether it is at home, in school, at work or just simply self-appreciation, we need it. ?
Today we are going to talk about the power of appreciation in the workplace but we should first note the relationship between the terms appreciation and recognition. The way we see it is that employee’s efforts and accomplishments should be appreciated through acts of recognition. In this case, recognition is the mean and appreciation is the goal.
In today’s workforce, employee appreciation is not merely a nice-to-have, it’s possibly the lowest cost/highest impact practice that benefits your entire organization. Why is this? Take a look at Deloitte’s study where they found companies with employee recognition programs have a 31% lower voluntary turnover,and according to Hays Group research valued employees are up to 43% more productive.
Why is this relevant?
Having a recognition program is highly beneficial for organizations, but having one is one thing and doing it well is another. This is where we come in to help.
According to Gallup, out of six different types of recognition such as:
1. Private recognition from a manager
2. Peer or customer recognition
3. Receiving or obtaining a high level of achievement through evaluations or reviews
4. Promotion or increase in the scope of work or responsibility to show trust
5. Monetary award such as a trip, prize or pay increase.
Still, most employees prefer employee recognition in the form of public recognition or acknowledgment via an award or a certificate.
“So you’re saying employees prefer public recognition over money, trips, promotion and customer recognition?!”
Yes. The Power of Appreciation at Work is HUGE. Even if you may have the same reaction as our friend above, it’s true. To appreciate your employees effectively is very simple.
Here’s how we do it:
We have combined these industry insights and our Happyforce know-how to create an easy and effective recognition module. From today on, managers and employees alike can appreciate and acknowledge their teams and peers publically. Everyone activated on the app anis able to recognize others based on their organizational values. These values are personal to each company and are aligned with the purpose, brand, and culture of the organization and should also reflect its aspirational identity to inspire others. Recognizing based on these company values highly impacts into creating a stronger culture since rewarded behaviors are often repeated.
Take a look at our app to see how this would look if a manger was recognizing someone!
From our point of view, top to bottom recognition should be complementary to peer recognition, which is why we decided to enable this recognition module to all employees alike. According to a study made by SHRM in 2012, peer-to-peer recognition is 36% more likely to have a positive impact on financial results than manager-only recognition. We know, it’s insane.
So before going away, we wanted to say, we appreciate you for reading this! Thank you for taking the time to do so.
(See that felt nice, didn’t it? )
So, who’s work or help are you grateful for today? Start today to appreciate your teams and see how far you can go. Try it 30 days for free!
Note: This module’s intent is not to replace face-to-face appreciation, but merely created to enrich it publicly and openly to match current employees preferences for recognition.