The world’s most successful companies treat recognition as a critical business process. It is the cheapest, yet the single most influential investment you will ever make for your organisation.
In a global 10 year study performed by the Jackson Organisation and Healthstream Research, the results of 200 000 interviews with management and employees revealed that:
- Those companies where employees scored the highest in rating their managers as doing "a good job at recognising employee contributions" also came in at the top in regard to customer satisfaction, employee satisfaction and employee retention.
- Companies rated as most "effective in recognising excellence," saw their return on equity as well as return on assets tripled in comparison to those organisations that were rated lowest in recognition.
“But organisations are feeling the pinch” says Zelda Pieters, Director of HR Inspiration. “and executives are looking for different ways to motivate staff and build morale”
Even if your company has a formal recognition program in place, 2010 has been a financially challenging year for many organisations, making the usual year end function and bonus far less likely for most.
“We are being forced to go back to basics and delve deeper beyond material forms of gratitude” says Zelda.
Generic emails, recognition ceremonies and gifts have their place, but they cannot replace the incredible impact of a personalised encounter, in which a heartfelt, sincere word of appreciation is expressed.
Simply saying ‘thank you’ however is not enough.
Get personal
“It’s a one-on-one thing where you as an executive, manager or supervisor are able to take a member of your team aside and acknowledge their contribution to the company” says Zelda.
“To get this right, you need to observe that staff member and get to know them well - understanding their values, personal challenges and activities which will enable you to recognise the subtle things they do and express your appreciation in an authentic manner”.
Many managers are unsure as to how to express gratitude. “It’s one of the first things we were taught as children” says Zelda “Keep it simple - we can never devalue the impact of sincere gratitude. It still means so much to people because it resonates with the core of who we are”
Start 2011 off with a bang!
Take time ahead of this festive season to review your mission as a company and pinpoint the behaviors you need to motivate in order for your company to realise better results in 2011. Honing the art of saying thank you will help you achieve your goals.
Companies requiring guidance regarding their recognition strategies are invited to contact Zelda Pieters, Director and registered Industrial Psychologist of HR Inspiration for further guidance or a one-on-one consultation. Please contact her telephonically on +27 21 930 9022 or via email at zelda@hrinspiration.co.za. Visit our website to view our complete range of services. www.hrinspiration.co.za
