The Importance and Power of Praise and Employee Recognition

What’s the one thing your organization can’t do without?

If you thought of your employees as soon as you read the question, you’re right. Employees are the lifeblood of your business. If they were to down their tools today, your operations would come to a screeching halt.

But how well do you take care of and appreciate your employees? If you want to get the most out of your workers, you ought to do more. You need to praise them and recognize their efforts.

Continue reading to learn more about the power of praise and employee recognition.

Praise and Recognition Boost an Employee’s Self-Esteem

If you’ve ever been an employee, you probably know how low your self-esteem can get when you feel like nobody notices the work you do, especially when you’ve done nothing but put your best foot forward.

When you’re low on self-esteem, you’re less likely to keep putting in a proper shift. Your productivity will take a nosedive.

As an employer, you want all your employees to give their best, every day. Recognizing them and praising them for good work is an effective way to keep their esteem high. An employee with high self-esteem is a productive employee.

Improves Organizational Performance

One of the top reasons employers shy away from recognizing their employees is the cost of implementing an elaborate recognition program. Of course, verbally praising an employee goes a long way, but mere words can only do so much. Proper recognition involves finding unique reward ideas for employees.

Examples of rewards that employees want are monetary incentives, vacation days, custom awards or plaques, work-from-home days, and other perks and privileges that make work more enjoyable and promote work-life balance.

What if we told you investing in employee recognition is more than worth it?

You see, when you praise and recognize your employees, they’re more motivated to work harder. Increased individual productivity leads to greater organizational performance. You’ll recoup a lot more than you invest in an employee recognition program.

Enhances Employee Loyalty

High employee turnover is bad for business.

Replacing a lost employee can cost your business as much as twice the ex-employee’s annual salary. Not to mention the amount of time you’ll spend conducting interviews.

How do you keep your employee turnover low?

There are many measures you should put in place, but one of the most effective is to appreciate your best talent. An appreciated employee is more likely to be loyal to your organization. On the hand, an employee who feels they aren’t appreciated will jump ship as soon as they find an opportunity.

So, if you want your best employees to stay at your company for a long time, don’t just pay them an attractive salary, because there’ll always be companies offering more. What makes a difference is the words of praise and recognition you say to them.

The Power of Praise and Recognition Cannot Be Overstated

Saying “well done,” “good work” or any other words or acts that show praise and recognition might seem cliché, but to your employees, they mean a lot. It’s the power of praise. Few words and actions that boost your employees’ self-esteem, productivity, and loyalty.

If you ever needed a reason to recognize an employee, you now have a handful. Keep reading our blog for more workplace tips.