Today’s world is moving at a break-neck speed. Constant innovations and lightning fast communications are bound to increase expectations at an equally fast pace. Customers tend to increase the level of their demands. This atmosphere might create a culture where previous achievements are seen as requirements in the present. Such an environment accumulates expectations and deposits them on the shoulders of the employees. The incline in expectations, coupled with due recognition not being provided might make the employees feel incompetent, even pushing them to look for jobs elsewhere.
Recognition for a job executed well should be the gospel in the company culture and not only in monetary terms. Appraisals and bonuses befitting the achievement should be a part of the culture, but the culture should not be based on it. Employees who feel underappreciated might still go searching in the job market for recognition. If you wish to retain your top talent, then there needs to be a system that provides appropriate recognition for efforts made.
Add Praise to Daily List
Incorporating recognition and praise organically into the daily routine can be daunting. Meetings can be divided in a manner that devotes a stipulated amount of time to sharing thanks and praise amongst employees and those received from the clients. Positive messages from the customers are important to increase motivation levels of the employees. Recognition from team members builds a sense of companionship and highlights that each member plays an equal and crucial part within the bigger picture.
Swinging by someone’s cubicle to say a few encouraging words is good but to retain employees, recognition has to become a part of the system of the company. If employee recognition is not already a part of the company culture, then take measures to include this activity in all levels of meetings. The management team also plays a role during one-on-one sessions to encourage the employees.
Acknowledge the Importance of Individual Growth
The recognition stems from the understanding that each employee is uniquely talented and offers varied skills to the company. The knowledge of these talents and cultivating them to the maximum will prove beneficial for your team, and the company at large. It doesn’t matter if you are leading a large corporation or a small start-up, career and personal growth should be a priority for all employees.
A part of the budget should be allotted to fund learning opportunities for the employees, every year. Team members should be motivated to acquire new skills and creatively absorb them into their work routines. Leaders should connect with the employees often, to chart out the aspirations of the employees and thus provide them encouragement and support to fulfill such ambitions. As the employees apply their acquired skills to the benefit of the company, make sure to give them proper recognition and acknowledge their contribution to the team and company.
Time is a Valuable Currency for All
As they say, time is money and your employees have no time to waste. Even though they are being paid a fixed salary, it is important to remember that employees spend their time away from other priorities to be in the office- the family, pets and other high-value aspects. Therefore, it becomes necessary to firstly, acknowledge the efforts of the employees and secondly, to incentivize their efforts with the boon of time.
As they collect more and more years in your company, be sure to publicly acknowledge their loyalty and hard work. Specificity is key in describing their time at the company and how the organization benefits from their time. A thank-you gift follows without saying, for the investment of the employee’s time in the company. In the short-term, you can show appreciation to your employees’ efforts by giving them early-release days, so that they can catch up on life outside the work sphere.
The Bottom Line
Though money is a significant motivator in retaining one’s job, it is by far not the sole motivation. Each employee wishes to be a part of a stable and positive company culture. If you wish to retain your employees, then you need to cultivate a system of management that acknowledges the contribution of each individual and helps them grow.<< back to Content