Stephen Covey wasn’t talking about gardening when he wrote “You have to water the flowers you want to grow.” He was in fact referring to employees.
This quote is particularly relevant as employers get ready to celebrate Employee Appreciation Day on March 2.
“There’s a big difference between getting people to come to work and getting them to do their best work.” says Bob Nelson, the unofficial founder of Employee Appreciation Day.
Recent studies by Gallup and Towers Perrin illustrate that recognition is highly correlated to improved employee engagement with both the employee’s work and organization.
Gallup found that only 29% of workers were “engaged,” while 54% were “not engaged” and 17% were “actively disengaged.” Gallup estimates the cost of this disengagement to the national economy at $300 billion a year.
In contrast, business units within organizations with higher-than-average levels of engagement enjoy higher productivity, lower turnover, increased profitability, and increased customer satisfaction.
According to research by Towers Perrin, organizations that have a “culture of recognition” have employees who report they are: *Five times more likely to feel valued,
*Six times more likely to invest in the company,
*Seven times more likely to stay with the company, and
*Eleven times more likely to feel completely committed in their jobs.
HR POINTER: There can be a disconnect between the type of appreciation employees want and what their managers think they want. Managers often rank promotions and cash bonuses as the two most effective ways of recognizing employee accomplishments. However, workers say they prefer an in-person thank-you or having a job well done reported to senior management.
Using a combination of monetary and non-monetary recognition programs can be an effective way to recognize and appreciate employees. For an overview of Monetary and Non-Monetary Recognition Programs, view the link below: http://www.yourparttimehrmanager.com/recognition-program/