Importance of Employee Recognition in an Organization
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BY: Ruzly Ismail
Employee recognition is an essential component of any successful organization. It is the acknowledgment of an employee’s performance, behavior, or effort towards achieving organizational goals. Recognition can come in different forms, including verbal praise, written communication, awards, and incentives. The importance of employee recognition cannot be overemphasized as it serves as a motivation for employees to do better and encourages them to be more committed to the organization. In this essay, I will discuss the significance of employee recognition in an organization with academic references.
One of the significant benefits of employee recognition is increased employee engagement. Engaged employees are committed to their work and are more likely to put in extra effort to achieve organizational goals. Research has shown that engaged employees are more productive, have higher job satisfaction, and are more likely to stay with their organizations (Harvard Business Review, 2018). Recognition has been identified as a significant factor in employee engagement, as it helps employees feel valued and appreciated for their work. According to a study conducted by Bersin by Deloitte, organizations that have effective employee recognition programs have 31% lower voluntary turnover than those without (Bersin by Deloitte, 2012).
Employee recognition also enhances teamwork and collaboration among employees. When employees feel valued and appreciated, they are more likely to work together effectively, and there is a sense of camaraderie in the workplace. Recognition can create a positive work environment, leading to increased employee satisfaction, teamwork, and collaboration. According to a study by Globoforce, companies with a culture of recognition have a 14% lower turnover rate than companies without (Globoforce, 2015).
Furthermore, employee recognition can lead to increased creativity and innovation in the workplace. When employees are recognized for their contributions, they are more likely to feel motivated to come up with new ideas and innovations that can benefit the organization. Recognition can serve as a catalyst for creativity and innovation, leading to improved organizational performance. According to a study by McKinsey & Company, companies that foster a culture of innovation have 30% higher revenue growth than those that do not (McKinsey & Company, 2018).
conclusion
employee recognition is an essential component of any successful organization. It increases employee engagement, enhances teamwork and collaboration, and leads to increased creativity and innovation. Organizations that have effective employee recognition programs have been shown to have lower turnover rates and higher revenue growth. Therefore, organizations should prioritize employee recognition as part of their overall strategy to improve organizational performance.
References:
Available at: https://www2.deloitte.com/us/en/insights/topics/talent/designing-talent-experience-for-better-business-outcomes.html [Accessed on 03-May-2023]
Available at: https://www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/Documents/SHRM-Globoforce-Employee-Recognition-2015.pdf [Accessed on 03-May-2023]
Harvard Business Review. (2018). The Value of Employee Engagement.[online] Available at: https://hbr.org/2018/01/the-value-of-employee-engagement [Accessed on 04-May-2023]
Available at: https://www.mckinsey.com/business-functions/mckinsey-design/our-insights/the-business-value-of-design [Accessed on 04-May-2023]
Wow Ruzly this is nice content .You have brought very important facts in the article .Thank you for sharing the knowledge .Well done
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