Recognition is the primary factor of engagement

Recognition is a powerful tool in the corporate world. It has the ability to drive people to try their best efforts. A kind word, a simple thank you works like magic in the otherwise mundane, ‘taken for granted’ roles in the regular 9 to 5 lives of many employees.  They feel more involved with their jobs, takes responsibility of their actions and doesn’t just think of passing the blame on to other team members. Engaged employees tend to have a mature eye in handling people related issues, in responding to their colleagues in a positive manner instead of generating strong reactions, and in avoiding unnecessary arguments.

As per global Work Trends 2013/14 data, 28% of people who have not received any recognition on doing a good job has less than 40% engagement with an organization whereas 76% of people who had been recognized have touched double engagement levels for the same organization.
Recognition is the primary factor of engagement
Motivation keeps the adrenaline high for high performers too. On a 5 point scale, conducted by Work Trends 2013/2014, high potential employees have a higher agreement with employee engagement, job satisfaction, and collaboration and innovation levels as compared with other average performing employees. And the same enthusiasm takes a deep dive when they are not recognized judiciously for their efforts. People who are intrinsically motivated needs visibility to keep their stature shining.
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Engagement impacts business outcomes in a fundamental way

By sitting down and writing business plans by yourself with a ground breaking strategy is not enough to drive growth. You need people. Good people to support your goals. People who buy in your thoughts and work whole heartedly to execute the plan. The pulse of the organization needs to be beating in sync with the management. The Vision-Mission statements need to be reprinted from the print to the daily work ethics and principle of every single employee.

Back in 2013, Research from Harvard Business School and the Balanced Scorecard Collaborative, now part of The Palladium Group based in Boston, found that 95 percent of a typical workforce in US doesn’t understand its organization’s strategy. They work merely to earn their living and secure their future. But if they don’t understand your strategy, how would they contribute positively to the organization’s needs? And most importantly, how would they know the right direction and take the right decisions?

GALLUP, in a study in 2016, gave us a deeper insight to the engagement levels across the world.

  • A staggering 87% of employees worldwide are not engaged. Many companies are experiencing a crisis of engagement and aren’t aware of it.
  • 32% of employees in the U.S. are engaged — meaning they are involved in, enthusiastic about and committed to their work and workplace.
  • Worldwide, only 13% of employees working for an organization are engaged.

Recently, AON Hewitt in their 2017 Trends in Global Employee Engagement survey report defines employee engagement as “the level of an employee’s psychological investment in their organization.” As per their study, a disengaged employee costs 10,000 USD annually in profitability to a company. This is indeed a huge figure. Demotivated employees not only contribute much lesser than expected, wasting valuable time and space, they also influence other employees to a certain extent. It creates a self-sustaining momentum which tends to move downward and becomes difficult to reverse unless effective steps are taken to motivate and inspire the workforce on a daily basis.

What the study also measured is the motivation level based on the following three factors: Say, Stay, and Strive. Employees were asked:

  • If they Say positive things about their organization and act as advocates
  • If they intend to Stay at their organization for a long time
  • If they are motivated to Strive to give their best efforts to help the organization succeed

It tries to understand the psychological environment within which an employee works and what he thinks and feels about his company and its leaders.

Another study, conducted by Gallup in 2012 and published in 2013, relates the engagement levels directly to business outcomes. Although the numbers and figures may vary as on today, the fact remains to be noted that employee engagement is a key driver for growth.

The figure below represents impact areas identified under the following categories:

  • Customer satisfaction ratings
  • Productivity
  • Profitability
  • Lower absenteeism
  • Low employee turnover
  • Fewer safety incidents
  • Lower quality defects

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What inspires employees to engage with the organization depends mostly on the trust, visibility and credibility given to each other at work. Colleagues help boost each other’s morale. They can uplift and uphold the spirit of the organization. It’s important to recognize each other’s efforts the moment it’s executed. “BRAVO” is the word!!!

Recognition Vs Attrition

Doesn’t seem to be a likely match isn’t it? I mean, why would anyone put up their papers just because they haven’t been appreciated for doing a good job? After all, everyone gets paid for their work. Along with the promised bonuses! So why the heck are we even talking about it?

BECAUSE it makes complete sense!

BECAUSE we are human and NOT a machine.

BECAUSE motivation is necessary to survive and overcome our weakness and not succumb to failures

BECAUSE it’s natural to have expectations from your employer to provide you with a healthy and happy work environment

The list is endless.

Studies reveal that 51% of employees feel they would want to leave their jobs in the next 12 months if their contribution at work is not given due recognition [Source: Work Trends 2013/2014]. Reinforcing the fact that recognition is inversely proportional to turnover intention. The power of recognition rules above the intent to quit.

The power of recognition rules above the intent to quit

Bravo works in multiple ways to-

  • To promote and sustain the power of motivation
  • As a catalyst in encouraging peer recognition on an official broadcasting platform
  • Assign company values and monitor the adoption of the same

To know more … Book a demo today!

Inspire to retain top talent

Look beyond salaries, if you want to retain your best hands in the business. Rewarding higher salaries is a good option but not an end-all. Higher figures are a necessity and for skills much sought after in the market, can be overtaken by competition which may get increasingly difficult for you to match every time.

Next to salary, work life balance plays an equally important role in retaining employees. What commonly goes around as “too much work, too little time”, has an infectious negative impact on employees and requires immediate corrective attention.

Overcoming limits on salaries and balanced work life, the other most important driving factor in employee retention is to treat one as an ‘asset’ to be valued and nourished and not just any one else in the fold. Companies need to make an employee feel that his or her contribution is of outmost importance to the business. Thus comes the need for reward and recognition programs for high performers.

Peer recognition goes one step ahead from regular R&R to create a more personalized working relationship. Appreciation from a colleague creates a ‘warm and friendly’ environment which increases collaboration and motivates one to grow as a team.

A respectable salary, suitable work life balance, sense of being valued and recognized are all contributors to create an engaged workforce. However, high performers who thrive on a challenges thrown at them are driven by a sense of purpose and the need to be a part of something bigger they can foresee. Inspired employees contribute to a much greater degree to the organization’s goals and objectives. By keeping employees inspired and involved in the business, offering them challenging assignments, and recognizing their valuable contributions, stands a good chance against higher-paying competitors.

Capture the fire in their bellies

People are hungry for appreciation. It’s a basic human need that drives us to excel in what we do. Businesses need to wake up to understand the need to harness this hunger for recognition in every employee in order to capture the best efforts. Back in school, teachers rewarded students with shiny star stickers which they would bring back home and proudly display. It pushed them to work hard to get more stickers.

In a recent Gallup workplace survey, employees were asked to recall who gave them their most meaningful and memorable recognition. The data revealed the most memorable recognition comes most often from an employee’s manager (28%), followed by a high-level leader or CEO (24%), the manager’s manager (12%), a customer (10%) and peers (9%). Worth mentioning, 17% cited “other” as the source of their most memorable recognition. Source: http://www.gallup.com/businessjournal/193238/employee-recognition-low-cost-high-impact.aspx

Organizations that give regular thanks to their employees far out perform those that don’t. According to Forbes magazine, modern, re-engineered recognition programs can have a huge impact on business performance. Companies that scored in the top 20% for building a “recognition-rich culture” actually had 31% lower voluntary turnover rates. Most CEO’s would pay millions of dollars to reduce voluntary turnover (this is when good people leave on their own). It turns out that a well-designed recognition program can achieve this result.

Lack of recognition equals to lack of encouragement equals to (may sound hard) non-acknowledgement of one’s very existence in the organization. Hence, it’s extremely important to boost morale and keep the momentum high by capturing the fire in their bellies! Recognition has the innate ability to create a positive energy which must be encashed by the business to multiply growth and productivity.

BRAVO gives the space and freedom to give wings to your recognition programs in a manner which will align the strengths of your employees to the values and beliefs of your business. Log on to www.bravo.spadeworx.com for further insights to BRAVO.

What lies beyond money?

WHAT is that ‘something’ that inspires you every Monday morning to kick-start another week of your 9-5 life? What drives you for just another day? Is it just the paycheck? Many would agree, but most wont. Yes, salary can give you the basic comfort required to survive but what is it that motivates you to work at your work place every day? In short, what lies beyond money?

In a word, it’s the FEEL GOOD factor that propels you to work every day. It involves all the necessary attributes that every employee dreams of – a warm welcome from a colleague, a cheerful team environment, appreciation from boss, feeling of being valued for your contribution, the fact that you are not just one of them, fun events etc., and the list can go on and on.

If you look carefully, all these intrinsic parameters foster an environment where you feel engaged with your workplace, and this engagement is woven together with your colleagues as you step together with the management towards a common goal and create ripples which directly impacts business. In short, happy employees are bound to ensure happy customers. Engaged employees are the force majeure that pushes the company to cross growth targets.

The question now, is, how would you best utilize the power of social recognition to drive employee engagement? Take a look at BRAVO, where we address all your thoughts and queries on how to get the best value out of the best minds. Invest in your future. Look beyond money.

Unleash the power of Employee Social Recognition

Anthony Jay Robbins, the motivational coach designs programs that help people overcome their limits and beliefs which curtail their progress to become a stronger, more resourceful and a more powerful person. It’s an important lesson for individuals both in their professional and personal lives to actually look within to find the will to win, to overcome road blocks and be successful in their endeavors.

But how does an organization transform itself from the tortoise to the tiger? The answer lies in inward thinking: Investing in people who are the lungs of the business, who have the zeal and the drive towards personal growth. Align their requirements with your business goals. A perfect match. It’s the people who work for you with all their heart makes all the difference in your balance sheet. Period.

Inspired employees has the power to lift an entire organization to new heights with what outwardly appear to be simple gestures of appreciation. A simple smile, a handshake with a simultaneous “great job on the project”, a moment to stop by someone’s cubicle and ask how their son’s doing, all propel people to continue to charge the hill. The lack of human touch or an acknowledgement can set an irreversible downward trend.

Such is the power of social recognition. A simple employee recognition tool can turn the tables for you. It brings in the much needed oxygen to the floor that motivates people to collaborate and create a win-win workplace. Being appreciated for the good work as against being taken for granted boosts morale and self-esteem. Empowers him to do better and better at his otherwise mundane job. This is where BRAVO can help in organizational setting. Check out www.bravo.spadeworx.com to know more.

Peer recognition is the key to success

Recognition motivates employees to go that extra mile to contribute to the success of the organization. All employees have the innate desire to be recognized and appreciated for their hard work. It may be as simple as a “thank you” or a regular structured program of recognition like the “star of the month” or the “star of the year” for achieving certain goals. Unfortunately, many employers fail to understand the magic of employee recognition. It impacts the turnover as employees who feel less appreciated, loses morale and motivation to work, and leaves the organization.

Keeping employees productively engaged by keeping their morale at an all-time high will reflect on the good health of the business. Lack of engagement will impact the brand image negatively as employees will tend to perform less than desirable levels which may directly impact client relationships. Driving employee engagement programs thus becomes a prerogative for any organization.

In fact, monetary compensation doesn’t boost so much morale as an open and transparent recognition program does. Rather than depending on the management to organize awards night, bringing talent to the front and appreciating them, employees themselves can be the torch bearers in this process. Peer to peer recognition brings an altogether different value to the person who is being recognized as to the person who is recognizing the other. It’s a two way process which creates trust, transparency and a partnership amongst team members who values each other’s work. It’s creates a positive environment fostering collaboration and teamwork. Helps in increasing retention and employee engagement levels.

Check out www.bravo.spadeworx.com

Visualize success in your business with [BRAVO logo], the employee social recognition platform which helps you provide consistent and timely feedback to your deserving employees. Boost up with BRAVO!