Power Of Recognition

 

- Prasad Rajappan

Organisations have always placed immense emphasis on finding the right talent. However, at the modern workplace, retaining talent is quite a challenge. So, what motivates employees to work to their full potential? How can organisations lead and develop a team of high-performing talent? How can the HR ensure employee satisfaction, which would then lead to increased productivity? How to keep the workforce happy, and how best to engage employees and keep the morale high?

Each one of us feels motivated when appreciated for our efforts. This is reflected in how happy an employee feels to get up and go to work every morning. Yet, the value of recognition at work is often undervalued by organisations.

A Gallup study states that on an average, organisations lose $300 billion in productivity each year. This is the cost of employee disengagement, as 71% of employees are disinterested and disengaged from their jobs. Considering this shocking statistics, experts are chalking out reward programmes to incentivise the workforce.

The workplace is evolving and so are employee needs. It takes a lot more than monetary incentives to motivate them. A survey conducted by Market Tools Inc. suggested that 77% of employees were willing to work harder if they were appreciated. About 27% look for better career opportunities. In light of this, nonmonetary appreciation may seem to be the right approach. So it has become imperative for organisations to find out what truly challenges and motivates their people.

These intrinsic factors cater to people’s deep-seated need for growth and achievement. So, why not consider another way to motivate? We need to embrace the key concept that motivation is less about people and more about doing great work. The focus has to be shifted to getting employees to feel great about the work they do.