Thursday, February 22, 2024

Organisations Using Employee Recognition to Boost Dwindling Engagement

employee recognition

Increasing numbers of organisations are using employee recognition as a cost effective tool to tackle low levels of engagement amongst workers.

Just nine per cent of UK workers feel enthused by their work and workplace today, according to Gallup’s latest State of the Global Workplace Report*, which concludes that the UK is home to one of the most dissatisfied workforces in Europe following a two percentage-point fall in employee engagement levels over the last year.

The UK’s nine percent of engaged workers compares to 16 percent in Germany and 33 percent in Romania – home to Europe’s most engaged workforce. Across Europe, just 14 per cent of people feel engaged with their work, with rates dipping below 10 per cent in Spain, France and Italy.

“Engaged employees are 21 percent more productive than their disengaged counterparts**,” comments David McCormack, CEO of employment solution expert HIVE360.

“Low employee engagement rates not only have a negative impact on productivity, but also rates of absenteeism and retention – recent data suggests between 85 and 87 percent of engaged employees are less likely to leave their organisations,” he says.

“Employees are the lifeblood of a business, working every single day to drive the business forward and meet objectives. With this in mind, it’s no surprise that organisations are constantly looking for ways to improve performance, retain talent and build a positive work culture.

“When employees feel like their work is valued, it fosters a positive workplace culture, boosts engagement, and encourages further effort and productivity,” David says. “While organisations can offer comprehensive benefits packages to help retain staff, one critical factor that could have even more of an impact is employee recognition in the workplace.”

Employee recognition is the acknowledgement and gratitude shown to staff for their hard work, dedication and performance, and can come in many forms, from financial incentives to verbal praise.

David adds: “The core aim of employee recognition in the workplace is to spotlight staff members who go above and beyond for the company and to ensure they know their efforts do not go unnoticed. Employee recognition in the workplace is crucial for retaining top talent and fostering a more productive, happier, and, ultimately, more successful workplace.”

Five steps to employee recognition in the workplace

Effective staff recognition doesn’t always have to be a grand gesture or costly investment. These are HIVE360’s ideas on how organisations can show employees appreciation and recognise their hard work:

  1. Verbal praise: Simple yet effective, a ‘well done’ or ‘great job’ from upper management can make an employee’s day. It’s instant, costs nothing, and can have a significant impact.
  2. Written recognition: If an employee goes above and beyond, send out a company-wide email acknowledging achievements, or give shout-outs in team meetings. You can also consider a ‘recognition board’ where employees can celebrate their colleagues’ achievements.
  3. Financial incentives: Monetary rewards like bonuses or gift cards are an excellent way to acknowledge an employee’s contribution. These can be regularly scheduled (such as quarterly or at the end of the year) or ad hoc.
  4. Team lunches or outings: These can be a great way to celebrate team accomplishments, promote camaraderie, and show recognition to the team as a whole.
  5. Employee benefits: Investing in employee wellbeing by offering unique benefits like private GP phone consultations, extra paid leave, or perks like gym memberships is a great way to recognise employees and support their wellbeing. 

HIVE360 is an employment solution expert, that is focused on adding value to its client’s businesses, and looking after their people and workers. As a specialist, expert outsourced employment services and administration partner, HIVE360 provides effective outsourced employment administration and PAYE HMRC compliant payroll, and employee engagement and employee benefits solutions. The company works with owner-managed, privately-owned and medium-sized (150-plus employees/workers) businesses, as well as recruitment businesses and agencies, their workforce and candidates. By tackling the challenge to attract, engage and retain the best talent, HIVE360 strives to help its clients become employers and recruiters of choice by giving them a strong employment offering in the market.

Its customisable, branded, unique Engage Employee Wellbeing and Benefits app, is included as standard and at no extra charge for all clients and their workforce, and uses pioneering technology-based solutions that create a ‘bridge’ between an employer and its workforce. Engage is supported by HIVE360’s dedicated engagement team, is available in 120 languages, and includes My Training, My Health, My Money, My Discounts, and My Work features.  More information: https://www.hive360.com/payroll-pension-perks/