5 Things HR Execs Need to Know About Employee Recognition

According to a Gallup study on workplace recognition, employees who say their contributions are recognized are less likely to feel burned out, more likely to thrive in their overall lives, and less likely to look for new job opportunities. And yet, the same report shows that most companies fall short in this area, with just one in five leaders saying that recognition is a major strategic priority for their organization.

When it comes to employee recognition, many organizations struggle with the “how” – which is where modern technology, such as employee experience platforms, comes into play. But also, many companies struggle with the “why,” as executives don’t always appreciate the power of a few words of praise or a simple thank you.

Here are five things every human resources leader should understand about employee recognition in the workplace.

Not All Recognition Is Created Equal – While employee recognition is, at its core, a simple matter, some methods are more effective than others.

Quality beats quantity, personal and specific always beats generic, and it doesn’t do much good to offer praise in a scattershot, perfunctory fashion. In the Achievers Workforce Institute survey, 64 percent of workers said they would prefer to receive more meaningful recognition instead of more frequent recognition.

Gallup lists five “pillars” of employee recognition. Recognition, the researchers say, should be fulfilling, authentic, equitable, embedded in the culture, and personalized. It is essential to understand your employee personas when applying these pillars. The definitions of these terms will vary from employee to employee, but the list provides a good starting point. According to Gallup, more than 40 percent of employees say the “right amount” of recognition is a few times per week or more.

Recognition Is Especially Important for Younger Workers – As the Achievers Workforce Institute points out, this is the first time in history that five generations have been in the workforce at the same time. And while employees of all ages want to be recognized for their work, this recognition is especially important for younger workers. That’s not just because Millennials and Gen Zs grew up receiving more feedback from parents and teachers than previous generations (although this is largely true). Younger workers also tend to earn less money and feel less anchored to their current jobs, increasing the importance of recognition. In the Achievers Workforce Institute survey, 43 percent of Gen Zs said they didn’t feel valued by their superiors at work, the most of any generation.

For relatively little money, employers can reward these workers in ways that build loyalty. In the daVinci Payments survey, 70 percent of younger workers said they would be motivated to stay in their jobs another year if they were rewarded with three $50 prepaid gift cards over a one-year period. This $150 annual expense obviously pales in comparison to the cost of recruiting, onboarding, and training a new employee.

To Know More, Visit @ https://hrtechcube.com/5-things-hr-execs-need-to-know-about-employee-recognition/ 

Article source: https://article-realm.com/article/Finance/42866-5-Things-HR-Execs-Need-to-Know-About-Employee-Recognition.html