Employee Appreciation: The Butter for Performance Management Bread
Getting more out of an employee’s day is a top of mind subject for managers and supervisors across all industries. Facilitating an environment where motivation, engagement and productivity exists, is easier said than done! Appreciation is at the center of a great performance management plan. Recognition and gratitude for a job well done is not a nicety to be dismissed, but rather an often overlooked piece of performance management ripe with opportunity.
Companies with high engagement experience 16% higher profitability, 65% reduction in turnover and an 18% increase in productivity.
“THEY KNOW I APPRECIATE THEM”
It’s erroneous and dangerous to think employees already know what’s in their manager’s mind. The “they already know, I don’t need to tell them” attitude is a faulty way of thinking and will eventually put you in hot water (or with a team of employees who feel unappreciated).
69% of employees say they would work harder if they felt their efforts were better recognized.
Think back to before you were a manager…did you always know what your boss was thinking? Or better yet, today, did you always know what executives wanted from you? Even if the relationship spans a couple of years, why risk under communicating and underappreciating?
Not convinced? Check out these shocking performance management stats.
A COMMITMENT TO APPRECIATION
Day-to-day managers are so important to the appreciation and engagement of their staff. Continual, regular feedback about what is happening now (not what happened 6 months ago like in annual reviews) is the sweet spot which can make or break a manager-employee relationship. Setting a time for regular feedback, be it once a week, after a project deadline or every company meeting, can create habit around an appreciative mindset. Employees learn by example as well, so your appreciation will encourage them to appreciate each other and their clients.
“I have always believed that the way you treat your employees is the way they will treat your customers, and that people flourish when they are praised.” — Sir Richard Branson @richardbranson
Check out these cold, hard performance management facts you need to know.
Tweet This: .@richardbranson believes the way you treat your employees reflects the way they treat your customers:
HOW TO SHOW APPRECIATION, EVEN ON A BUDGET
Employee appreciation can be tangible, like a gift card, an afternoon off or a t-shirt. The most effective ways are often intangible. Offering a note of gratitude after a project finishes is a simple, free and powerful tool that reminds the employee you recognize and appreciate their hard work. Plus, 43% of highly engaged employees receive feedback at least weekly. Consider sharing employee wins in team meetings when the entire organization can see the achievement.
Tweet This: #DYK 43% of highly engaged #employees receive feedback at least weekly? Learn more:
How to get buy-in and budget for better performance management.
“Letting your employees know, verbally, that you see and praise their work is the positive reinforcement which can turn a slightly disengaged employee to breathe a breath of fresh air with a new positive outlook and buy-in for work. Companies with a recognition-rich culture had 31% lower turnover.” –@Josh_Bersin
Tweet This: .@Josh_Bersin says companies with a recognition-rich culture had 31% lower turnover:
APPRECIATION MADE EASY WITH REVIEWSNAP
As a manager of people, your goals are top performance and positive engagement. Formulating your approach around appreciation, feedback and recognition can be the difference between a loyal employee and another turnover statistic.
You don’t have to do it all. Performance management has never been simpler. Reviewsnap is simple business solution featuring real-time micro feedback and performance management platforms. Let Reviewsnap be your solution to get the best results out of your team every day.
“By appreciation, we make excellence in others our own property.” -Voltaire