Employee recognition often is the fuel to motivation which leads to success for a business. Therefore, having a positive workplace is a great way to make your office a safe haven and in result, increase employee engagement and productivity. A great workplace will openly and excitedly celebrate the accomplishments of its workers because this recognition promotes the future success of its employees and company. Here are some shocking statistics that show the impact of recognition on engagement.

·       79% of people who quit their job claim it’s due to a lack of appreciation. (O.C. Tanner Learning Group)

·       Recognition is the NUMBER ONE thing employees say their manager can give to help them produce better work, according to a global study. (Forbes)

·       Organizations with effective recognition programs have 31% lower voluntary turnover compared to organizations with ineffective recognition programs. (Recruiterbox)

·       On average, it costs a company 1.5x the employee’s salary for each instance of employee turnover. (Achievers)

·       Annually, $11 Billion is lost due to employee turnover. (Bureau of National Affairs)

·       “Highly engaged employees are 87% less likely to leave their companies than their less engaged counterparts.” (Corporate Leadership Council)

There’s proof in the numbers. Happy employees are productive employees that stay engaged in your brand. Morale boosters are important to keep employees engaged, and recognition helps with that.

Set Goals Often

Help keep employees motivated and on track by setting clear goals. Common benchmarks include the first 90 days and yearly reviews. Check in on a more frequent basis setting smaller goals monthly or even weekly. Then celebrate and recognize those wins!

Help your team reach for the stars with milestone achievements! Set high, but realistic, goals in place to motivate your team members to go above and beyond.

Milestones Aren’t Always for the Individual

When milestones are reached, it doesn’t have to be an individual accomplishment. Celebrate as a team – when one achieves, we all achieve!

Peer-to-peer recognition is just as important. Set up your team members with recognition success by providing them with the tools to do so. Keep shout-outs on hand and accessible, making it easy for anyone to give recognition.

Goals can also be set as a team. Set up benchmarks that are only achievable as a department. These can be based on the number of sales made, days of safety, amount of 5-star reviews are given, and beyond. When the goal is met, throw a celebration to recognize all their efforts in creating a better experience for customers! We’re all about reasons to celebrate at work!

Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.