An employee recognition program boosts motivation, productivity and can send your business performance off the charts. Too bad there's only a handful of companies that employ such programs to their maximum. Little do they know how powerful they can be in reinforcing creativity and letting employees know in a tangible way they have an impact and are valued. There's a whole chain reaction in play here. And the elements involved are employee satisfaction, profitability and productivity. Studies have shown there's a definite correlation between employee satisfaction and positive business outcome. Profitability is linked to employee satisfaction; and, an employee recognition program can often be largely responsible for employee satisfaction. Incentive programs have been shown to increase performance as much as 44% according to a study by the International Society of Performance Improvement. Furthermore, productivity per person can almost triple. Whether you're a young and growing company or a mature organization, the dividends of an employee recognition program are exceptional. And the best part is it doesn't have to cost you a bundle. A small budget of less than $10,000 is usually sufficient depending on the size of your organization. But beyond the money, think about what it means to you if each and every one of your employees - especially your best and brightest ones - feel valued and work everyday at maximum productivity. Those companies that claim they don't have the budget for such a program yet waste money on holiday gifts and employee birthdays etc. simply don't get it. You simply can't afford not to have an employee recognition program. Naturally, if you're not careful, such programs can sometimes become a distraction instead of a collaboration tool. Internal contests and promotions have been known to divide a company to the point where all departments are no longer working together towards a common vision. Should that occur, you need to reevaluate your program and immediately get to the root of the problem. But don't be too quick to dismiss the program as the culprit because generally an employee recognition program is a win-win.
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