Engaging & Retaining Employees #4 Recognition and Praise
Updated: Jul 17, 2019
I recently saw a survey stating employees would trade 10% of their salary in exchange for work recognition. The idea of pay reduction in exchange for recognition appears to be an unrealistic scenario, however, the true value of recognition and praise needs to be measured to ensure its effectiveness. One way to measure the impact of positive recognition, is noticing a boost of employee morale and increased productivity. Strategic recognition, is an implemented plan with measurable goals, and is a critical factor for success.
You'll need to establish a performance baseline for recognition, and it must be measured regularly and consistently. Strategic planning and communication is essential to ensure employees understand the objectives for each plan. This requires an all-in commitment from every level in order to have a positive impact on employee morale, performance and Corporate Culture.