02 Aug How to Ace Employee Recognition
Employee recognition is critical to keeping the right people on board, achieving business outcomes, and driving employee engagement. Additionally, the HR Council of Canada says that recognized employees are better for an organization because they:
- Tend to exceed performance expectations
- Are highly motivated and more productive than their peers
- Are more likely than their peers to stay with the company
If these sound like characteristics you’d like your employees to have, then it’s possible that you could create a more committed and engaged workforce by improving employee recognition.
The Manager’s Role in Employee Recognition
A large part of employee recognition falls on managers. In fact, employee recognition should be one of the primary pillars on which your managers’ performance management system is built. To make an impact on employees, managers must give feedback that’s timely. Instead of saving praise (or conversely, criticism) for the annual review, managers should approach employees as soon after the positive/negative behavior happens as possible.
Feedback should also be genuine and appropriate in volume, according to Forbes. While frequent feedback is effective for making employees feel recognized, it should also come at a natural pace. Encourage managers to give feedback in a way that matches employees’ efforts and results; it shouldn’t be random.
In addition to ensuring that managers are doing their part to recognize employees, you must also make sure that you have a competitive compensation plan in place, which we’ll discuss next.
Where Compensation Comes In
Employee recognition is two-sided, and it takes efforts on managers’ part as well as competitive pay to make an employee feel valued. According to a HayGroup study, only 47% of employees polled feel that they’re paying paid fairly for the work they produce, so it’s important to ensure that your company’s compensation plan is doing its part to show appreciation.
Of course, effective compensation planning is easier said than done. If your HR team is already overloaded with responsibilities, compensation planning software could simply the process for them and help ace employee recognition to drive retention, engagement, and performance.
HRsoft is a leading provider of strategic talent management software that improves manager effectiveness and business results. Our full suite of cloud-based HR software solutions includes applicant tracking software, compensation planning software, total rewards software, stay interview software, performance management software, and content management software. To learn more about our Compensation Management Software, COMPview, click the button below!