The importance of recognizing and rewarding your employees cannot be understated. From boosting morale to providing motivation during particularly tough seasons, showing your employees that you see them and rewarding them for their efforts can improve productivity, efficiency, and quality output.
Companies show appreciation to their workforce for a variety of reasons, from individual triumphs to team achievements. You can celebrate a team member’s anniversary, commemorate a company milestone, and even show your gratitude during the holidays or on Employee Appreciation Day.
Why Employee Appreciation Matters
Being recognized for a job well done is fundamental to the human experience. As children, we love to hear affirmations from our parents. As teenagers, we thrive on recognition from our peers. And as adults, we need to be seen and appreciated for our efforts in the workplace. In fact, we’d go so far as to say that the importance of recognizing and rewarding your employees is so great that it could be a major contributor to your company’s overall success.
Impact of Employee Appreciation
An appreciated employee is a productive and loyal employee. Individuals in the workplace who are noticed for their hard work tend to:
- Stay with the company for long periods of time
- Be motivated and productive
- Produce high-quality work
There’s more good news. Employers have a myriad of options when it comes to rewarding employees. So, if you’re feeling a bit indecisive on the best way to show employees your appreciation, there are a ton of great ideas out there to inspire you.
Different Types of Rewards
You can reward your employees with something meaningful no matter what your budget is. Some of the most popular rewards are electronic gift cards, tickets to sporting events, or lunches on the AmEx. Employee recognition and reward software is also helpful for generating ideas, tracking rewards, and distributing rewards.