If you have a company, or any kind of business that requires a certain number of employees ,you already know how vital it is keep the people that work under you happy and motivated. After all it's training new employees is hard, expensive and has an impact on productivity.
As mentioned above all of us are recognition hungry ,regardless of our position in a company. So when you recognise an employee's effort you keep them motivated and even an unknown capability of them may surface.
These claims are not empty. Many studies have concluded that people who are recognised and rewarded for their valiant efforts, are more productive and happy. Also a bigger amount of loyalty is expected.
The first motivational strategy is based on the results of economic theory. This theory is describing the homo economics as a self interested being that it's primary interest is financial gain. This strategy has been applied to other areas too, such as politics, sports, etc. and had great success.
Sociology and psychology are supporting a different approach. Human preferences and standards are not stable and they often don't bring in any financial reward. What really seem to have an impact is values like decency, honor or dignity and emotions like envy, love or hate.
b. Intrinsic motivation on the other hand is supporting the claim that employees find satisfaction in the activity itself and they are provided with a pleasurable experience.
As a result intrinsic motivation is more preferable by companies that want to achieve a higher amount of teamwork a friendlier environment for their employees. Extrinsic motivation can create jealousy, hatred and in general negative emotions between co-workers.
If a company is not capable of offering rewards of this magnitude there is a different approach on the matter. Employees can also be rewarded with gratitude and respect.
Recognition programs demonstrate respect for your employees. An honest and thoughtful employee appreciation program is based on valuing employees' efforts and having respect for their employees' personalities and effort. Getting rewards like nice cars or vacation does not always mean that a person is recognized. There are many cases that, senior management equates the “reward” with “recognition” when in fact, they are very different things.
Recognition starts with having a personal relationship or even friendship with the people that work for you. Meaningful and sincere words can be extremely more powerful than a fancy sport car.
You may have a hard time justifying your “rewards” budget, but you absolutely need to justify the concept of “recognition.” Challenge your senior leaders to practice recognition every single day. If they engage in this practice, it will become your company's gold.
Holistic programs that aim at building relationships and make an improvement on the performance across organizations can influence the amount of success of any recognition program. When employees inside a company feel useful and appreciated, they will extend that same attitude and commitment to the company's costumers. This strategy is the reason why recognition alone or combined with rewards can change the future for all businesses.
If you consider all the things mentioned until now a conclusion naturally comes to your mind. When recognition and rewards are used properly they can lead to a very bright future for a company. And we must always keep in mind that happier and more satisfied employees can produce better results.
If you join our mailing list we will send you a brief introduction to the way the book can be used to unlock your passion, achieve your goals and reach ultimate success.