Morale. It’s one of the most important emotional and psychological aspects to maintaining a smooth, profitable organization or business. Said simply, high morale produces big results. Low morale results in terrible results. If you’re running a business, there are relatively simple methods for boosting your employee morale, even as often as on a monthly basis. You’ll find that by following just a simple program of employee recognition, you can increase your annual return on investment (ROI) significantly.
Says EDCO.com, a business awards company, one good idea is to come up with some effective employee of the month award ideas. What exactly are employee of the month awards? They are awards you present to your employees once per month that demonstrate your appreciation for your workers, not as cogs in a machine, but as talented and productive human beings. The awards are said to encourage positive behavior, while motivating them to push your company forward.
That said, what are some of the key components to pay attention to when it comes to boosting your employee morale and your company ROI? According to a new report by The Business Journals, it’s human nature to want to be appreciated and recognized for the contributions you make to a company. When you become recognized for the role your play, you automatically feel as though you are an indispensable member of a team.
It’s said that employee recognition is one of the top motivators of worker engagement. Says the research organization, Quantum Workplace, your employees are nearly three times more likely to become highly engaged in their work when they know for certain they will one day be recognized for their contributions. However, despite the statistics, only about 25 percent of U.S. employees ever receive any kind of recognition for their services be it monthly, or at all for that matter. For some employees, handing out paychecks is enough of a reward.
What it all comes down to is this: employers are missing out on a terrific opportunity to boost their ROI simply by recognizing their worker’s achievements. It means less absenteeism, less turnover, and a healthier, more happy work environment.
Here’s how you can boost your employer morale along with your bottom line.
Get to Know the Individuals Who Work for You
Employees are said to embrace company recognition in a variety of ways. While some are more appreciative of a private gesture, others would love to receive a monthly award in front of the entire staff. This is why it’s imperative for you as an employer to get to know each individual you hire so that you can then customize your approach toward recognition.
You can then have some good fun with the way you choose to recognize your exceptional workers. You can engage in public recognition by throwing a small office party along with the handing out of a trophy or plaque in honor of a team or an individual. Going with a more private recognition approach can mean asking an employee to see you in your office whereby you issue them a personal thank you along with a bonus check.
Make Sure to Schedule Important Dates
Make sure you make note of basic, but important dates like the anniversary of your employee’s first day on the job and his or her birthday. Recognition can’t get any simpler than that since all it requires is a calendar.
You can add monthly or quarterly performance awards along with employee appreciation events to the calendar also. You then have a decent framework which won’t get lost in the hustle and bustle of your daily work tasks and all those fires you find yourself having to put out.
Peer Recognition is Also Important
Says The Business Journals, while it’s important for company employers and leaders to provide a culture of worker recognition, all the responsibility does not rest with them alone. You can ask employees to make an effort to recognize their peers for their outstanding contributions and for demonstrating the company spirit on a weekly or monthly basis.
In the end, you’ll want to recognize the most outstanding employees not only internally, but publicly by putting out press releases about award ceremonies, board appointments, new hires, significant promotions, and more. By being an active participant in boosting your employee morale, you will not only be treating your employees like decent human beings, you will also be boosting your bottom line. And that’s good thing for everyone who’s taken a vested interest in your company and your company’s future.