There are plenty of ways to recognize excellence. The bottom line is that employees who are continuously acknowledged for their contributions tend to be more driven and innovative. In other words, rewarding excellence pays off!
In this article, we’ll discuss the advantages of implementing a corporate recognition program. We’ll explore how appreciation affects workplace morale and the many ways in which you can recognize the valuable efforts of your team.
Let’s dive right in!
Why Award Performance?
Because isn’t a monthly paycheck enough? Well, no. In fact, research shows that performance-based increases often don’t work as well as personalized recognition. And the reason for it is that the power of recognition is mostly in its psychology.
It’s not about the reward itself – it’s about the intrinsic value of being acknowledged.
Recognition taps into the fundamental human need for validation and affirmation. Unlike a regular paycheck, which is transactional and expected, authentic recognition acknowledges individual contributions. It also reinforces desired behaviors, making the team more engaged and motivated – which is the ultimate rocket fuel for productivity!
Recognition Can Tip the Scale
Awarding excellence has become a key part of most corporate productivity strategies. Your workforce is the most valuable asset of your organization. Keeping the team happy and engaged will definitely tip the scale towards success.
In a recent partnered recognition research study, Gallup and Workhuman reports that employees who receive great recognition are 20 times more likely to be engaged. And yet it's still pretty common for employees to feel that their work is being overlooked.
Thoughtful Employee Recognition Ideas in 2024
In 2024, the global workplace landscape will continue to flex its muscles – keeping a strong focus on work-life balance. The current recognition trends are riding on the wave of wellness with personalized rewards, peer-to-peer recognition and DEI.
It’s time to celebrate excellence!
Here’s a list of 5 popular employee recognition ideas that will have a long-lasting impact on the team.
1. Hybrid Work Opportunities
Flexibility has become the new power word for companies aiming to stay competitive in the job market. Remote work has become common, but the one model that stands out is the hybrid one.
It allows employees more control over their work schedule – choosing to work on-site some days and at home others. A great perk for workers who could use a break from the corporate environment.
2. Paid Professional Growth
One of the best gifts you can give an employee is the chance to move up in their career. Where there’s potential, there’s room for growth.
If you have a high-achieving member on your team, supporting their journey to mastery in their field can lead to significant development and success
3. Wellness Credits
Turn your employees into wellness champions! Using credits, you can reward your team with perks that help them stay fit and healthy. Call these health credits, wellness credits, power credits, or any other term that fits the spirit of the team.
Offer gym memberships, wellness retreats, mindfulness classes, and relaxation sessions that will help your champions recharge and reset.
4. Gift Cards
Gift cards are great if you want to reward your employees without having to worry about getting them something they’ll truly appreciate. With a gift card they can shop for themselves at their favorite stores, completely guilt-free.
Harness the power of gift cards to ignite creativity and innovation in your workplace! Here’s a practical guide to implementing this strategy.
5. A Monthly Subscription
This is the gift that keeps on giving. Everybody has a favorite series on Netflix, HBO, or Disney+. Why not surprise your team once in a while with a paid subscription to their favorite streaming platform?
No binge-watchers on the team? How about a subscription box? Nowadays, there are boxes for all kinds of tastes and interests.
Perhaps exotic foods? Books? Clothes? Lightbulbs? Ask around and choose the box that matches the hobbies of your employees. Guaranteed, they’ll love it!
The Magic of Recognition
There’s magic in recognition, and it starts with a thoughtful and personalized reward. We hope this list brought you more inspiration!
Also, if you’re looking for more ideas on how to craft the ultimate rewards strategy, don’t miss out on our guide.
About GoGift
GoGift, a leading global provider of gift card solutions, specializes in offering innovative and versatile gift card services to over 15.000 corporate clients worldwide. With a commitment to simplifying the gift-giving process, GoGift provides a broad range of gift card options from numerous popular brands, catering to a diverse array of tastes and preferences. Their services are designed to enhance the gifting experience, making it more convenient, personal, and enjoyable for both the giver and the recipient.
For more detailed information about GoGift, please visit their official website: https://www.global.gogift.com/