I recently came across this article in Forbes that emphasizes the power of well-planned and executed employee recognition programs “Modern re-engineered recognition programs can have a huge impact on business performance. Companies that scored in the top 20% for building a ‘recognition-rich culture’ actually had 31% lower voluntary turnover rates!” I was especially intrigued with the article’s comments regarding peer-to-peer recognition. One of this author’s specific suggestions which I wholeheartedly agree with is to implement a formal peer-to-peer recognition program. Why? Many times, praise from management can be viewed as political even though it is not meant to be(i.e. they are recognizing me because they want something in return) while praise from coworkers is going to be viewed as genuine and informed. Peer to peer recognition is often more gratifying than top-down recognition.
That point is more forcefully made in this Human Resource Executive Online article in which author Carol Patton notes that formal peer-to-peer recognition programs “are among an employer’s most powerful, low-cost tools for reducing turnover, improving productivity and boosting employee morale. . . . peer acknowledgements are often unexpected, selfless and inspirational. Employees are usually so touched that they end up forming strong bonds with co-workers and become more motivated to do a better job.”
The problem for most companies is finding and implementing a system that enables employees to easily and effectively recognize each other. Time for the plug…… this is where Snowfly excels. We can provide your organization with a cloud-based application that will allow employees to recognize their colleagues publicly or privately.