Employee recognition is an important factor in the success of any company. It not only helps to boost morale and job satisfaction, but it can also improve productivity and reduce turnover rates. In fact, according to a study by Gallup, employees who feel recognized are more engaged and perform better than those who don’t.
Here are five reasons why employees need awards and recognition to be successful:
Boosts Morale
Employees who feel appreciated are more likely to have a positive attitude towards their job and workplace. This positivity can translate into higher levels of motivation and productivity, which can ultimately lead to greater success for the company. According to a study by Globoforce, 82% of employees feel motivated to work harder when their efforts are recognized.
Increases Job Satisfaction
Employees who receive recognition for their work are more likely to feel valued and appreciated, leading to increased job satisfaction. In fact, a survey by Officevibe found that 82% of employees feel that being recognized motivates them to work harder, and 69% would work harder if they were better recognized.
Improves Productivity
When employees feel recognized and valued, they are more likely to put in extra effort to achieve their goals. This increased effort can lead to greater productivity and improved performance. In fact, according to a survey by O.C. Tanner, companies with recognition programs in place have 31% lower voluntary turnover rates than those without.
Reduces Turnover Rates
Employees who feel unrecognized and undervalued are more likely to leave their jobs in search of better opportunities. According to a survey by CareerBuilder, 50% of employees would be willing to leave their current job if they didn’t feel appreciated. Additionally, a study by O.C. Tanner found that 79% of employees who quit their jobs cited a lack of appreciation as a key reason.
This engagement can lead to increased loyalty and a greater sense of ownership over their work.
Increases Employee Engagement
When employees feel recognized and valued, they are more likely to be engaged with their work and committed to the success of the company. This engagement can lead to increased loyalty and a greater sense of ownership over their work. According to a survey by Gallup, employees who feel recognized are more engaged, have higher job satisfaction, and are more likely to stay with their current employer.
In conclusion, awards and recognition are essential for employee success. They help to boost morale, increase job satisfaction, improve productivity, reduce turnover rates, and increase employee engagement. Without recognition, employees may become disengaged and ultimately leave their jobs in search of better opportunities. Companies that prioritize recognition are more likely to have motivated, engaged, and successful employees.