How important are recognition and support from management in the workplace? To say they can increase employee engagement is an understatement. “A supportive manager can improve an employee’s likelihood of retention by 300%,” reports Workday, a cloud-based business management platform.
How does it impact the level of engagement? As reported by human resources platform Quantum Workplace, “When employees believe they will be recognized, they are 2.7 times more likely to be highly engaged.”
A Win-Win
Besides increasing commitment, showing appreciation for good work serves to boost morale while underscoring and promoting your practice’s core values. It’s not just about raises or even bonuses. There are many other ways to recognize employees and make them feel appreciated besides yearly or semiannual monetary measures.
TOP TIPS
The Harvard Business Review published a short list of low- and no-cost ways to thank staff in an article, “A Little Recognition Can Provide a Big Morale Boost.” Suggestions include a personalized note, recognition at the next team meeting, and a special gathering to celebrate team successes.
On the other hand, one study mentioned in the same article found that merit bonuses reduced motivation “due to a widespread perception that the performance levels needed to earn the incentive were nearly impossible for many employees to achieve.”
The goal? To make ongoing appreciation part of your culture. Besides feel-good reasons, an article from MIT Sloan Management Review asserts that, when it comes to turnover, a company’s culture is viewed as 10.4 times more important than compensation.
Research from O.C. Tanner shows that employees at companies with well-crafted recognition programs plan to stay with their organization two to four years longer than employees at companies without recognition programs.
Good Ideas
Here are examples of what three of your peers do to show appreciation and keep those employees in place.
→ Colleen Hannegan, who has been an optician for 45 years, works part time for a VSP clinic in San Diego. In addition to monthly bonuses, depending on sales goals achieved, she says, “VSP recognizes outstanding employees through a monthly email blast, and when employee names are mentioned by patients for extra efforts, they get a shout-out.”
→ In Chicago, Todd W. Sims, OD, recently started incentivizing staff members who reached their sales goals with an Amazon Prime, Hulu, or Netflix membership. “Because it’s an annual membership,” he explains, “that gives them a full year to enjoy the benefits of their accomplishments.”
→ In Kirkland, WA, Specialty Eye administrator Suzannah Jerden says that in addition to a bonus structure, the practice hosts staff appreciation lunches and occasional outings, and sends thank-you notes for birthdays and work anniversaries. “It’s important to us that everyone feels seen and appreciated—both in big ways and small,” says Jerden.
Large or small, tokens of recognition and appreciation shared with staff can make a huge impact on both commitment and retention.