Attracting right talent on job is a major challenge for HRs, so is the challenge of retaining top performers and excellent talent within the company. Retaining employees involves keeping them happy on job at all times. This can only be achieved if their efforts are adequately rewarded and recognised through time with employee recognition initiatives.
According to the 2015 Trends in Employee Recognition survey by WorldatWork, “The top five recognition programs have remained the same since 2013: length of service (87%), above-and-beyond performance (76%), programs to motivate specific behaviours (51%), peer to peer recognition (48%) and retirement (34%). Programs to motivate specific behaviour continue to be on the rise, jumping to the third-most prevalent recognition program with a 10 percentage-point increase.”
To stay on top of the employee recognition programs opted by companies today, HRs need to stay abreast of the times. They need to implement new ways to attract and retain talent. Some of the employee recognition trends to stay on watch out for in 2015 are:
Peers recognise efforts of an employee and give due recognition and credits to their colleagues in peer groups. This helps in motivating an employee to perform better and elevates confidence levels.
Employees like to be appreciated for their efforts and recognised in the social world, so you can publicise recent achievements by an employee for excellent performance on a social network platform accessed by the team, colleagues and the fraternity in business.
This will help them earn social goodwill and give them a reason to stay and not move out of the organisation. You can also encourage employees to do good to society through various philanthropic causes such as donations, company-wide charitable programs and the likes.
Read: 8 Ways to Praise the Employees
Your employee recognition programs should be accessible to the fraternity and world at large on their mobile devices. People should be able to gain easy access to reach out to achievers. The gifts to performers could involve discount coupons on online purchase made on mobile, gift certificates for friends and family, creative badges on the company portal etc.
While most organisations celebrate 5, 10 or 15 years completion tenure of an employee with the company and reward them for their efforts, you can start the clock sooner in a year. Employees should be recognised every year for their efforts. They should be provided with a positive feedback on their performance and scope for improvements.
Employees should be receiving more canned messages from the HR department on receiving an award. Even personal messages from their immediate line manager or senior manager will make them feel appreciated for their hard work.
Embrace technology and tools that will allow companies and managers to identify top performers. Best behaviours should be recognised and rewarded accordingly. This will have an impact on employee happiness and facilitate better engagement.
Out of the box platforms like Achievers and Kudos makes it easier for HRs to engage, recognise, and reward employees for their efforts.
“In a talent driven economy, we know organizations that demonstrate employee value and embed a culture of recognition are boosting morale and motivating workers to perform at top level,” said Rose Stanley, WorldatWork senior practice leader. “Today, as more companies are beginning to treat employees like customers, recognition plays a role in creating an atmosphere of higher engagement, motivation and overall job satisfaction.”
Also read: Keeping The Most Valuable Asset, Your Best Employee
Image credits: flickr.com