Now is the perfect time to Appreciate and Recognize your people!

If you are an Employer, Manager or Team Leader you probably already know, have heard or read about the benefits of recognition and the facts to support it. If not, please let me know.

The size of the organization doesn’t matter, you could have a company or team of 3 or 3,000 and the benefits would still apply.

 Here is a quick synopsis of the benefits of recognition: 

• Improved Morale
• Enhanced Productivity
• Increased Competitiveness
• Higher Revenue & Profit
• Decreased Stress
• Decreased Absenteeism
• Decreased Turnover
• Lower Related Costs

It isn’t rocket science to figure out why all major sports venues have coveted awards for the team and individual players; visions of Michael Jordan kissing the silver NBA championship trophy and the Gold Medalists of the Olympics proudly displaying their medals enter my mind.

The fact is people work hard and long to make certain goals and really do cherish the symbol (award) of reaching their goal. The award then serves as a constant reminder of their achievement not only to themselves but also to others long after the event itself has passed. It is the best ROI for the dollar a company can invest, guaranteed.

Knowing people will engage themselves towards achieving amazing accomplishments and those same people positively react to being recognized for those efforts coupled with the fact that the benefits of Recognizing these people far outweighs the costs; is there any valid reason for not engaging in the process?

The question then is; what are you or your company doing for your employees, co-workers or customers when it comes to Recognition?

According to a report released in January of this year by the Conference Board, a non-profit global business research organization; 55% of the American workforce are unhappy with their jobs.

There is no better time than this economy to invest in your people and send the message “You are important to us and we appreciate you”. Don’t wait for the economy to turn around, that is an excuse and it will haunt you in terms of human capital erosion when the economy does turn around.

Recognizing and appreciating employees, as well as customers, is one of the most effective motivators to offset the effects of a down economy. It fortifies the very foundations or your business and sustains the future of your company.

If you look beyond monetary compensation, you will notice that employees, partners, and customers actually want two things. In addition to being fairly compensated, most people also want to be “appreciated” by those with whom they do business.

Therefore, particularly in the midst of financial stress, it’s more important than ever to communicate and to show employees, partners, and customers that they are truly valuable to you and your business.

Giving out gift cards, holiday edibles are nice, but they don’t compare to the lasting emotions that come from a lasting commemorative or award that says, “You are appreciated.”

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