Developing a reconcilable and involving strategy for providing employees a favorable environment to work is important for the growth of the company. Effective recognition programs can prove to create an experience that encourages employees to increase productivity. It motivates employees to stay in your company. These programs should be impartial and valuable to employees. Research and studies show that these programs can be a game changer in boosting employee morale. According to some studies, a happier employee serves 20% more productivity towards their work. Another survey explains that 30% of people who left their job said being recognized more for their unique contributions could have helped them stay longer. If an employee gets the appreciation and recognition he deserves, he develops a sentimental connection with his work and he gives more effort to his work.
TeamLease HRtech, a global provider of cutting-edge, one-stop-shop HCM solutions, has shared the top 5 employee recognition program that can help your employees feel rewarded –
Gamification – Gamification is basically adding a fun element into a serious environment. This urges the employees to work in a team. By incorporating game-like features such as leaderboards, badges, points, and challenges, employees become more engaged and motivated to participate actively in the recognition program. Gamification helps to establish a learning culture and find and fix the knowledge gaps.
Tech Integrations – Technology plays an important role in driving peer recognition. The extensive use of technology in HR functions, enhances the value and reward of the recognition program. It helps to increase program visibility, instills efficiency and creativity. It can include creating comprehensive benefit programs that cover various aspects of an employee’s lives, including health, life insurance, loans, and retirement planning. By providing such holistic benefits, employers can demonstrate their commitment to employee’s well-being and financial security.
Automation – Organizations can streamline and automate the entire process of recognition programs. This automation eliminates manual tasks, reduces administrative burden, and ensures a consistent and efficient recognition program. After switching to automation, HR departments may experience a decrease in excessive paperwork, which reduces the costs of materials and manual workflows. Automated systems can provide real-time recognition and instant feedback, increasing the immediacy and impact of rewards.
Peer-to-Peer Recognition – This kind of program enables everyone in the workplace to recognise and appreciate each other. This boosts up their relations on personal as well as professional level. This also includes that the employees should recognise their leaders as well. A peer recognition program might take the shape of an internal platform with a social feed of continuous thanks, hi-fives, and kudos. By leveraging HR technology, companies can facilitate and empower employees to actively participate in peer-to-peer recognition, ultimately fostering a culture of appreciation, collaboration, and shared success.
Holistic Benefits – This kind of program enables in addressing employees’ diverse needs and concerns.
Various comprehensive programs and modules can help in the holistic benefit of employees.The connection between a holistic benefits program and employee rewards and recognition lies in the thought of valuing employees beyond their immediate work contributions. All of this includes the mental, financial , social, intellectual and physical well being of employees. It’s associated with the future and retirement plan of the employee as well.
Other than monetary rewards it is necessary to explore alternative approaches which provide equally effective results. This is where HR technology comes into play, revolutionizing the way organizations reward their employees.
Conclusion – HR technology offers a wide array of possibilities beyond monetary incentives.These programs create a sense of job satisfaction in the employee. All this translates to a healthy work environment, stress free working, attracts higher- quality of employees and a flow of positivity flows within the company. This ultimately contributes in building a stable workforce, and better teamwork which benefits the overall growth and success of the company.