Engaging employees with a future-focused recognition strategy
After operating in crisis mode because of the COVID-19 pandemic, employees are making it clear that they expect more from their companies and jobs. Whether it is more flexibility in their work-life balance or recognition for their contributions, the challenge today for C-level executives and leadership is making the investments that ensure everyone wins.
To help organisations build a more effective employee recognition strategy, Achievers has launched a new eBook titled, The case for employee recognition, which highlights the new challenges of inspiring all employees.
For instance, with a hybrid work model beginning to emerge as some workers begin to return to the office while others continue to work from home, employers will need to create a culture that engages and retains employees, wherever they are.
Employee recognition, highlighted Achievers, helps organisations align employees to business objectives by reinforcing behaviours tied to corporate results. It also solidifies employees’ emotional connection with their organisation and values, making them more engaged.
Alignment, engagement and recognition, added Achievers, are key to driving business success on a daily basis. That is because engaged, aligned and recognised employees will work harder to satisfy customers, and in turn, create greater shareholder value.
To ensure an organisation’s employee recognition strategy achieves the best results, senior leaders needed to be actively involved in the process. To convince C-level executives to buy into the organisation’s employee recognition strategy, speak their language, Achievers advised.
For instance, highlight to them how employee recognition increases retention and saves hiring and training costs. Provide them with evidence of the outcomes that can be achieved from a recognition strategy that engages and aligns employees.
As organisations look to move successfully beyond the pandemic, their recognition and rewards efforts must also have an impact and clearly delivers return-on-investment (ROI), Achievers pointed out, because traditional rewards methods will not longer be effective in today’s new world of work.
Instead, take strategic and specific actions. Start by gathering relevant information about the organisation and do not be afraid to ask tough questions. Then, survey employees to determine if the organisation has low or average engagement scores.
Then, present the findings to executives and show them how company costs can be reduced, and results that matter most can be positively impacted by revealing the ROI of employee recognition.
An employee recognition strategy with buy-in from senior leaders can transform the organisation by creating a culture of recognition that promotes strong engagement and keeps the business strong, even in the face of crisis and uncertainty, Achievers concluded.
Click here for the full report, and discover how to create an organisation-wide purpose that helpe employees connect to the bigger picture.