3-Tier Employee Recognition Strategy to contain attrition - by Mrityunjay Sharma

A recognized survey results reveals the following:

1.?????87% of IT, telecom, ITeS and internet employees feel they don’t get enough appreciation from their bosses and management.

2.????88% employees are willing to stay longer if they are appreciated at work

3.????66% employees said they might leave their present employer if not satisfactorily recognized

While the Great Resignation that we are witnessing right now might have to do primarily with the pay raise, this is certainly going to be a temporary phenomenon. And with the survey results out, one can’t dismiss that the feeling of lack of appreciation/recognition is acting as a catalyst to this trend.

Before I abreast the 3 employee recognition techniques which together can prove to be holistic across level of employees,

Let’s look at few exemplary, yet real workplace scenarios.

Example 1:

The situation:

A high-performing employee manages a large group project that has a significant influence on the organisation. While everyone on the team worked hard, it's evident that this individual put in a significant amount of time and effort. The leadership team takes everyone to a wonderful lunch at the end of the project, but they do not specifically recognise this individual.

The problem:

This one-size-fits-all attitude to acknowledgment can generate animosity. When your employees' efforts to go above and above aren't appreciated, they wonder why they bothered to work so hard in the first place. If they are not recognised, they may eventually disconnect or leave for an organisation that will recognise their contributions.

Example 2:

The situation:

Every year, your sales force anticipates the coveted President's Club trip, which is your company's only formal award programme. However, the trip is exclusively for the top 1% of sales people, which means that the majority of your team—and organization—will be overlooked.

The problem:

Without additional opportunities for acknowledgment, the majority of your salesforce will feel neglected and will likely look for work elsewhere. Because only the sales staff is eligible for President's/CEO's Club, the rest of your company—including many individuals who support your sales process—feels left out, which breeds hostility and low morale.

?WHAT SHOULD BE DONE?

Building a culture of recognition that powers employee experience and encourages engagement and retention requires a multi-tiered or holistic approach to recognition. Let's look at the 3 tier in more detail and see how the components fit together.

1.?Day-to-day employee appreciation and recognition.

Consider it employee recognition that is "always on." Your employees are always performing tiny acts of brilliance that a central leadership team may not see. As a result, every employee should be able to express and receive gratitude at any moment.

Examples of instances where daily appreciation can be triggered by the following behaviours:

·??????Assisting a team mate with a challenging task

·??????Continually pursuing a lead and setting up a meeting

·??????Speaking brilliantly at a workplace function

Ways to do this:

a.??????Give a public shout-out.

Employees that don't mind being in the spotlight can benefit greatly from public appreciation. To share amusing shout-outs, use Slack, all-hands meetings, or even social media.

b.?????Send a note of gratitude.

If you want to go the extra mile, send a note of appreciation. This simple gesture is personal, impactful, and guaranteed to make someone’s day.?

2.?Informal or decentralized employee recognition.?

You'll want to recognise important personnel successes with a bit more zeal than day-to-day gratitude. This brings us to the next type of employee appreciation: informal recognition. To encourage employees to repeat highly significant acts, this form of recognition should always be accompanied with an incentive.

The term "informal" is a little deceptive. We're talking about decentralised employee recognition with a monetary incentive. Your company can set criteria for why and when to acknowledge and reward employees, but informal recognition means that personnel at all levels of the company can hand out prizes at their discretion. Timing, reward value, and how guiding criteria are interpreted should all be fairly variable.

Examples of actions that may result in informal acknowledgment include:

a.??????Going above and above your job description to assist a seller in closing a big deal

b.??????Delivering higher outcomes than anticipated on a quarterly project

c.??????Filling in for a coworker who is on maternity leave.

Way in which this can be done:

Introducing a Spot Recognition Programme

When certain actions, contributions, or achievements occur, spot recognition is used to reward them. This sort of programme is beneficial because it can be tailored to your organization's specific goals. You may also recognize employees instantaneously or at any frequency you choose.

3.?Formal employee recognition.?

Formal employee recognition should be related to a noteworthy achievement or milestone for the employee and provide a meaningful incentive. Formal employee recognition, unlike daily appreciation and informal recognition, is centralized, meaning it is usually part of a planned programme and overseen by your HR or People team.

This coverage is essential for instilling a lasting sense of gratitude among your staff.

Examples of behaviours that might result in formal acknowledgment include:

a.??????Reaching an important professional milestone

b.??????Using a key corporate value to drive company culture

c.??????Improving the efficiency and profitability of an established process

This can be done in the following ways:

a.??????Launching a Values Awards programme

Employee recognition like this makes recipients feel seen, recognised, and appreciated, while also reinforcing actions that are in line with your company's culture. Rewards are provided on a recurring basis (e.g. quarterly or annually) based on a nomination process in a formal Company Values Awards programme. Because a central committee—usually your company's HR and/or executive team—evaluates the nominations and selects the winners, this is formal acknowledgment.

b.??????Celebrating Employee anniversaries.

Celebrating years of service demonstrates that you cherish and appreciate an employee who continues to provide their time and talents to your firm year after year.

c.??????Hosting an annual President’s / CEO’s club.

President's /CEO’s Clubs are an excellent example of annual performance-based formal acknowledgment. While most of these clubs cater to salesmen, other companies make them available to all growth-related departments.

Evaluate the following questions as you consider the various types of employee recognition and how to manage recognition at your company:

• ??????Is there a way for any and all employees to express and receive gratitude?
• ??????Is there a way for every employee who goes above and above to be acknowledged and rewarded?
• ??????Is there a way for each employee who contributes to the corporate culture to be acknowledged and rewarded?
• ??????Is there a way for managers to recognise and reward their direct reports in order to develop the manager-employee relationship?
• ??????Is there a potential for public recognition and shout-outs to remind all employees that we have a recognition culture?
• ?????Are there structures, processes, or technologies in place to support all of the above in order to assure consistent recognition?