Here are the major takeaways from the above infographic.
1) Employees Want to be Noticed.
Recognition in the workplace is the most effective way to maintain a pleasant and satisfied workforce. Not only do employees want to be recognized for their contribution, but they also desire praise. Employees that are undervalued and unappreciated are less likely to put forth effort, which can impact all areas of business.
2) Praise From Manager is Biggest Motivation.
When breaking down the different types of workplace motivation that exist, praise from the manager actually has more of an impact than cash bonuses. It is hard to believe, but praise from a manager can be a larger form of motivation for employees than actually getting a cash bonus. This shows how important praise can be and why managers need to use it as motivational tool.
3) Business Opportunity is Viewed as a Form of Motivation.
Two other ways to motivate that ranked above cash bonuses include attention from leaders in the workplace and opportunities for leadership. Not only do employees want to be recognized and praised for their current work, but they also want the ability to move upward within the business. Ranking below cash bonuses were other forms of monetary motivation including increase in pay and stock options. Monetary motivation isn’t quite as powerful as you might imagine.
4) Majority of Employees Feel Under Appreciated.
Even though almost 80% of employees admit to trying harder in the workplace if they are recognized for their efforts, more than 65% feel that they get no praise for what they do at work. Many of the issues with employees could have the potential to be solved using strategic recognition.
5) Strategic Recognition is Easy.
Recognition in the workplace can have a profound effect, but it is not difficult to begin strategic recognition engagement. Simply offering employees a “thank you” for their efforts can create a work environment that allows all employees to reach their full potential. Treating employees correctly and giving them appreciation also helps to reduce turnover. If employees are not regularly recognized or praise, they will leave. Companies that don’t implement recognition programs of some type have a turnover rate that is almost 50% higher than those companies that do.
A little recognition or praise can go a long way and be the motivational tool that drives success in the workplace no matter the industry or amount of employees.