According to a new report from Canva, a popular graphic design application:
- 56% of U.S. employees feel appreciated or very appreciated at work,
- 44% feel unacknowledged, and
- 75% of workers wish they felt more valued.
Why does appreciation matter? Employees say gestures that make them feel valued positively impact their motivation, boost their confidence and engagement, and enhance their productivity. Comparatively, only 6% of staffers who don’t feel appreciated say they are highly motivated.
The global employee recognition market is projected to be valued at $46 billion, so there’s no shortage of ideas or programs that an organization can embrace. And while you may be thinking about creating a program that includes points-based rewards, social media shoutouts, free lunch, award certificates, gift cards, and excursions, there are other ways to show employees that they are valued:
- Conduct focus groups and ask employees what they think before making a major decision that impacts them.
- Offer flexible work options.
- Make an organization-wide plan for work-life balance.
Whether you have a recognition program that could use an upgrade or have nothing in place, the most important thing to keep in mind is to build a system that’s easy for both your managers and employees to use regularly and consistently. Peer to peer recognition matters because peers are in close relation with each other and have shared day-to-day obstacles and challenges. This deeper understanding can make peer recognition especially meaningful.
If you don’t know where to begin or are looking for a new idea to take your current program to a new level, consider rewarding people for living your Values. It’s also important to marry several different ideas, such as traditional gift cards and the non-traditional organization-wide plan for work-life balance. By tapping into the old and the new, you are sure to create a program that meets virtually everyone’s needs.
Bonus Material: Check out my 21 Recognition Ideas That Work cheat sheet to help take your program to the next level.