Treat Employees like they make Difference and They will - Jim Goodnight CEO, SAS
I and two of my friends who are budding entrepreneurs were in one of the city's best restaurants for a lunch. As we were chatting we got into the business kind of discussion. A question soon popped into my mind.
I asked them a question - as a business owner what are your entrepreneurs’ business goals? Both of their answers had common business goals which I am sure business owners too will agree with them.
Their answers to the above question were:
- Enhancing your sales and generating profits.
- Improving the quality of your product /services
- Bringing innovations in your services and products to attract your customers.
My next question to them was what they do or have done so far to motivate their employees? And oops… there was nothing but complete silence to this question.
I thought since they are budding entrepreneurs, maybe they did not focus on it or maybe they were too pre-occupied with their other goals or maybe they did not want to think on that aspect and maybe could continue with ample of other reasons.
Let me tell you, that the two of my entrepreneur friends are not the only ones. But there are other entrepreneurs too who miss out on something very beneficial to them as well as their business
‘Customers come first’ – a common notion that every business owners think. But the fact is that employees should come first for entrepreneurs. Take care of your employees and they will take care of your customers.
If you take a look at the above business goals they all have to do and are all connected with your employees. If your employees are happy they will be eager to put in more hard efforts. This will drive your sales and generate revenue for your business. It will take your business to the next level which I guess is every entrepreneur's dream, isn’t it?
Well, an employer and an employee relationship are like that of a give and a take relationship. In simple terms, if you want the most output from your employees you need to value their efforts.
We, as humans, are social animals. We strive to connect with one another. We long for appreciation and enjoy rewards when we receive one, don’t we? Rewards and recognition programs serve as a communicative tool. When employees receive appreciation they create significant results for your business.
As an entrepreneur - Do you wish to yield positive outcomes in your present business? Do you wish to craft an effective strategy for your business? If you have given a nod to the above question, then you need to do two things.
- You first need to treat your employees like your assets
- You need to maintain cordial relationships with them.
Did you know?
Employee appreciation is one of the top five desires of employees across the globe. If you want to bring the best out of your employees use the reward and recognition strategy.
So what is Employee Reward and Recognition?
Employee recognition is an open acknowledgement of the accomplishments achieved by the employees. It is also an expressed appreciation towards individuals or teams for their efforts. It can have an adverse impact on all aspects. Aspects that range from productivity to motivation and engagement to retention.
It infuses a friendly atmosphere that stimulates a sense of closeness and belonging. In simple words, it crafts a supportive work atmosphere. Being appreciated or recognized for one’s work serves as a superb motivator. It can curtail attrition and enhance employee morale.
Times Jobs conducted a study on employee appreciation. The study included an industry-wise analysis on employee appreciation. Here are some of the key findings of the study:
- Manufacturing and Retail: 52% of employees said they received enough appreciation from their bosses.
- IT and Telecom: 87% of employees stated that they don't get much appreciation from their bosses.
- Automobile: 75% employees said no to any sort of appreciation from their bosses.
- BFSI: 70% employees said no to any sort of appreciation from their bosses.
Nilanjan Roy, head of the strategy, Times Business Solutions says that happy employees are the best brand ambassador for any organization. Organizations should ensure this by appreciating, recognizing and rewarding their employees. Appreciation is an effective as well as a proven strategy for enhancing employee engagement and business output. Thus, creating a formal structure for employee recognition is very important.
Importance of Employee Reward and Recognition Programs:
- Boosts productivity:
Engaged employees are more productive. Appreciating employees for their efforts will make them work harder than before. Times Jobs survey more than 1,600 employees for their study on employee appreciation. Times Jobs Study reveals that 82% of employees are willing to work harder if their bosses appreciate them.
- Reduces the risks of turnover and retention:
Employee turnover is a costly expense for any business. Entrepreneurs incur huge costs in hiring and training resources. They do it to make them capable enough to achieve business goals.
Here's a question to business owners:
After all these efforts and expenses; would you want your resource to soon leave the company? Definitely not! Instead, you would make sure that you do everything to keep them associated with your company.
A little bit of recognition, appreciation and reward can do a lot of wonders when it comes to your employees. A recent study by Times Jobs states that almost 90% of India Inc. employees said they would stick around longer if they feel appreciated for their work.
- Boosts employees’ morale:
If employees have low morale the business goals are bound to suffer. But, if employees have high morale they are more creative and productive. This would enable employers to achieve their business goals.
Employee appreciation enhances employees’ morale and motivates them to perform better. Enterprises use employee reward and recognition systems to reward, encourage and motivate employees.
HR Automation Tools for Employee Reward and Recognition:
Employers use reward and recognition as a tool to keep their employees motivated. We currently belong to a digital era where almost every task has an automation tool. Today, the digital era and advanced technology provide an organization with various digital tools. These tools help enterprises to implement, manage as well as tracks such programs.
Here follows a list of some of the top HR automation tools for employee reward and recognition:
Happy employees are productive employees. With this aim in mind, we at Xoxoday help employers in managing their staff. Our help ranges from motivating to engaging and rewarding to incentivizing your employees. We help you reward your employees that are in alignment with your enterprise's goals, strategy and objectives.
Xoxoday- an HR automation tool; offers employee reward and recognition solution based on your business need. Our easy to use tool enhances team communication and employee engagement.
It's a self-serve platform. This means one can manage the employee reward and recognition program at any time and from any place. We let you appreciate, recognize and reward your employees with reward point on occasions like Birthdays, anniversaries, performance, spot awards and a lot more...
Some of our core features include reminders, nominations, employee mood, user management, badges, polls & surveys, Kudos& greetings, Global catalog, Reporting and Analytics etc.
2. Wishlist Rewards:
To create a memorable reward and recognition program, one can use Wishlist Rewards an HR automation tool.
This tool offers multiple automated spot reward programs. You can choose from a catalogue of extensive experiences and gift cards. Wishlist Rewards makes sure to offer employees an option they will actually enjoy.
3. 360 Recognition:
HR automation tool like 360 Recognition encompasses peer recognition program. It also includes service anniversaries awards, achievement rewards and a lot more. Employers can customize as many or as few modules as per their need.
This tool offers a complete picture of your enterprise’s recognition culture. It helps employers to identify their recognition programs strengths and opportunities.
Yammer is a social network for organizations. HR automation tool that offers a platform to organizations where the enterprises can stay connected with their staff. They can share asset and other information amongst their team members.
It includes features like - document sharing, search, contextual discovery, rich user profiles and an intelligent feed. Yammer enables the broadcasting of peer recognition activity.
5. Small Improvements:
It’s an HR automation tool for employee review and talent management. Small Improvements offer tools like goals and tracking, 360 degrees feedback, one-on-one support etc.
It also provides employee recognition data. With this data, one can have a complete picture of an employee’s contribution toward the organization at the time of his / her reviews. You can view your employees’ achievements within the employee’s profile.
You don’t need to go back and look for an employee’s achievement during the past year or quarter. Few clicks in employees' profiles and the information about their achievements are available
An HR automation tool that uses pulse surveys. These surveys enable managers to have a better understanding of their team members. This tool sends a quick one-question pulse to your employees on weekly basis.
Employees can respond using the employee portal on their desktop. For this, they could even use their smartphones. This tool sends reminders to employees who don’t respond.
Employees are not limited to the survey question only. They can send peer recognition. Employees can also submit their own suggestions that they would like to give or share. This tool lets HR to gauge the effectiveness of the employee appreciation initiatives.
Officevibe is another HR automation tool. It measures the sentiments of employees in an organization. This tool has more than 350 pre-build questions which are based on industry standards. It covers every aspect of your organization in their survey.
Employee feedback, reports from every team and the whole organization, eNPS tracking and an extensive enhancement section are a few of its features to name.
With the help of this tool, your HR can send out weekly surveys to your employees to gauge employee engagement and satisfaction. They can also use this tool to seek useful and actionable advises on ways and means to enhance employee engagement and satisfaction.
8. Benefit One:
Benefit One is an HR automation tool for employee reward and recognition. It uses a peer-to-peer platform. This platform allows employees to give real-time recognition to one another.
What’s more? Well, this tool permits managers to customize incentive plans for their team members. They can also craft unique rewards and awards for employees at different grade level.
A bucket list is an HR automation tool that entrepreneurs use. They use this tool to track employee engagement, satisfaction and other performance metrics.
It has a catalogue of rewards to appreciate and recognize employees’ successes and achievements. You can customized awards which mean it lets your HR craft awards as per their parameters.
Kudos an HR automation tool creates a hub. It's a platform where managers and peers can appreciate and reward the successes and achievements of employees.
This tool offers tailor-made manager-to employee reward and recognition features. Sending feedback messages from one employee to another or from a manager to an employee, congratulatory videos etc. are some of its features.
Motivosity is another HR automation tool you can use to reward and recognize employees in your organization. It offers a social platform for your HR. HR can issue reward currency to reward and recognize top talents who are meeting the company’s goals.
The employees can accumulate the reward money. The accumulated money they can spend it in the Motivosity store. This store consists off say about almost 200 digital gift cards.
The store has an added feature called 'for a cause'. The employees can use this feature to make donations to support their organizations' causes.
Recognize is also one of the HR automation tools. It has rich inbuilt features such as automatic employee birthday or anniversary recognition, on the spot employee appreciation notes from colleagues, manager recognition & notification, nomination voting, more than 100 gift cards and a lot more.
You can use this features to send messages through text, emails, instant messaging or even through a company’s mobile app. It’s a customizable tool that permits managers to create rewards catalogue of gift cards, experiences as well as non-monetary rewards.
13. Tap My Back:
Tap My Back, is an HR automation tool. Employers can use it to boost employee engagement with the help of peer-to-peer engagement.
It offers insights to managers about their teams and which areas need improvements. Community feed, descriptive and personalized badges along with extra remarks are a few features offered by this tool.
Fond an HR automation tool offers an employee engagement platform. This platform can assists companies to attract, retain and motivate their employees.
With this tool employers can recognize and reward their employees, access exclusive corporate discounts as well as measure engagement levels in your organizations.
Some of its features include employee pulse surveys, survey customization, goal and challenge creation of peer recognition, wellness assessment, social feedback portal, performance benchmarking, reporting and dashboards etc.
Benefits of Using HR Automation Tools for Employee Reward and Recognition:
Engaged and motivated staffs are far more productive than those who are not. When you appreciate your staff they feel valued and go the extra mile to put in more efforts.
Rewarding employees’ efforts will make them least interested in looking for other jobs. Hiring and training new joiners is far more expensive. Hence it is always wise to look for ways and means to retain your employees.
- Job Satisfaction:
When you recognize your employees’ efforts they tend to connect with your organizational goals. They feel that their presence does make a difference to the organization. It also sets an example for the rest of the employees that hard efforts do pay off. This itself increases satisfaction
- Team Culture:
Peer-to-peer recommendations are best to boost your teams’ spirit. It encourages your staff to spot the positive attitudes amongst their colleagues. Rewards that use peer-to-peer recommendations let employees of an organization know their worth. They get to know that their colleagues value and recognize their hard work and efforts.
A loyal employee can promote your brand far better than those who are not loyal. Frequent reward and recognition programs will increase your employee’s loyalty towards your organization
- Employee happiness:
If your employees are happy your company is bound to grow and achieve success. This is because if an employee is happy he/she will be motivated to perform better. Treating your employees with respect will create an overall happy working atmosphere.
HR automation tools for employee recognition are very important. It helps business owners to keep their employees motivated. To compete amongst your competitors in the market; enterprises need to maximise the output from their employees.
By introducing HR automation tools for reward and recognition programs employers can make their employees feel valued. This also enhances and increases the productivity.
Recognizing and rewarding employees in a right way can refurbish an enterprise. It sparks and kindles enthusiasm, increases motivation and drives bottom line results. HR automation tools for such programs let you celebrate achievements. It inspires employees, encourages growth and let employers achieve their business goals.
Do you have an HR automation tool for your employee reward and recognition program? If not, begin using one and soon you will reap the benefits it offers!