Employee recognition is about more than just bonuses and awards; it’s about making your team feel appreciated in whatever way means the most to them. This includes things like a team trip, a paid day off, free company branded merch, or even building out a peer recognition program.
Finding the right combination of options for your organization can take time and doesn’t have to happen all at once. Here is a list of ideas to consider bringing into your workplace.
Formal and Informal Recognition Programs
Most companies have some sort of formal recognition program in place. Examples include years of service awards, employee of the month celebrations, and performance-based bonuses directly tied to individual and team goals.
Informal recognition efforts have less structure. They could include thank you notes and shout-outs in company meetings or virtual channels or encouraging employees to celebrate one another in your company slack channel or communal areas.
It’s very helpful to have both kinds of programs in place, as one shows an ongoing dedication to your team, while the other offers a higher level of personalization and on-the-spot opportunity for acknowledgment.
Monetary Recognition
Monetary recognition programs tie the achievement of goals or the identification of excellent performance to a payout of money or gifts. However, they do have their limitations and are not always appropriate for every situation. Are you incenting the right behaviors? Do your gift offerings appeal to a broad audience?
It's also important to look outside the box when providing monetary awards. Beyond money, how can you show appreciation in a more personal way to your team? Consider creating a company branded store and letting them choose their reward. This can be much more impactful than an impersonal cash prize.
→ Related Content: How to Create a Custom Company Store for Your Employees
Non-Monetary Recognition
When an employee does a great job on a single project, you’ll likely want to show them gratitude, but you may not want to be handing out cash for every accomplishment. Non-monetary programs are a great way to provide a much more meaningful and personal experience as a way to show your thanks.
- Flexible work arrangements - from working hours to working location, offering this for consistent high performers can greatly enhance work-life balance and employee satisfaction
- Professional Development Opportunities - providing opportunities to attend conferences, workshops, and even webinars on company time can help your employees expand their knowledge, which benefits both the company and the employee
- Reserved Parking - maybe your organization has a few parking spots that are more desirable than others… Make these the prize for your employee of the month program
Social Recognition
When considering social recognition programs, you should explore both internal and external platforms. Many employees respond well to external validation, such as sharing their achievements on your company social media, while others may prefer to keep things internal on your company intranet. Offering up the rewards that mean the most to each employee will supercharge any recognition program you put in place.
Employee Recognition with QRG
Our meaningful recognition solutions can help strengthen connections between employees and employers which creates a strong sense of community, leading to increased satisfaction and loyalty. Check out QRG’s recognition and retention solutions and contact an account executive for help starting a program at your company.
QRG is a customer-driven, single-source commercial printer, branded merchandise agency, and direct marketing firm tailored to meet your business goals. Our corporate identity solutions create deep connections with a lasting impact on your audience. Learn more about how it works and check out our website for more information.
