Day-to-day recognition is defined as the genuine everyday expressions of appreciation given to reinforce and reward positive behaviors. Although each dimension of recognition (day-to-day, informal, and formal) is important, day-to-day recognition occurs most often and has the greatest ability to impact employee performance. In this series, we’ll explain how day-to-day recognition can help you create a great place to work, establishing higher levels of employee motivation, engagement, and retention.
Do it to Retain
The economy is making its comeback and while that’s good for business, it’s also good for job hunters. Remember when we were all forced to do more with less? Remember when you’re leadership M.O. may have been “my employees should just be thankful to have a job!”? Well, times they are a-changin’. Talent is at a premium and companies are noticing an uptick in voluntary turnover as their employees are feeling safe to explore their options.
With every employee who walks out the door, organizations spend thousands of dollars finding and training a replacement. Employee retention is a big deal and recognition is used by many organizations as part of their talent retention strategy. A survey conducted by WorldatWork and Recognition Professionals International found that 51% of companies with recognition programs had improving retention as a key goal; and 76% reported that their programs were meeting their needs.
Day-to-day recognition is a means to achieving a culture where employees feel valued and can save an organization thousands of dollars every year. Lack of appreciation in the workplace was found by the Department of Labor to be the number one reason for voluntary turnover, ahead of compensation or benefits. The research identified 64% of working Americans leave their jobs because they didn’t feel appreciated.
So what can you do to make sure your top talent is secure? We all know strategy has to start at the top and trickle down, so start by getting C-level buy-in. Once you’ve made the business case for your recognition strategy and gotten buy-in from above, your front line managers are where you need to focus your energy. If your managers are practicing what you’re preaching, you’ll see retention rates on the rise. Check out our Recognition Resource Center for tools to help you inform and train your managers.
Set a strong example by looking for opportunities to recognize and deliver recognition in meaningful ways, and others will be inspired to follow your lead. And don’t forget to spread the good news! During weekly management meetings or all staff gatherings, get the managers and staff excited about your day-to-day recognition program by communicating examples of recognition in action throughout the organization.
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