PS Reviews: Pablo Luna’s Article on the Impact of Employee Recognition
In the recent Pulse Headlines article, “How Employee Recognition Programs Impact Business,” Pablo Luna explains the impact that recognition has on the success of a company. There are two primary benefits to recognition, which are increased productivity and higher employee retention. Get more value from the existing workforce – something every organization desires. “To stay ahead of the competition, you can introduce employee recognition programs in your workplace,” Luna explains. At its core, performance management is recognition, and continuous performance management systems (like Performance Scoring) are a great option for organizations looking for a jolt in employee recognition. Recognize and celebrate employees for their achievements, while recognizing and coaching employees in the ScoreCard Categories with low performance, a win-win.
Increase Recognition to Increase Productivity.
The current workforce wants to be recognized, and organizations that have effective recognition programs are rewarded for it by productivity increases. Recognition “is one of the best ways to keep your employees motivated and also increase the productivity of your business,” mentions Luna. The continuous feedback of Performance Scoring drives recognition through scoring positive factors and notifying employees of recognition in real-time. Luna ads that “with appreciation and a sense of ownership, employees get engaged with their tasks and work harder to meet their goals.” Employees of organizations using Performance Scoring always have a sense of ownership in their performance because they know their real-time performance scores, but also, they know the factors that will increase or decrease these scores. “Staff recognition practices drive the force of employee satisfaction leading to a positive balance sheet.” Performance Scoring’s case studies provide insight into the ROI’s of recognition and effective performance management.
Employee Retention Rates Rise with Recognition
Competition for top talent between organizations is higher than ever, and recognition boosts an organization’s confidence in retaining their talent once in place. “Employees feel motivated, which alters their mindset from looking somewhere else and utilizing their time and energy towards their company,” observes Luna. When recognition is paired with continuous coaching and leadership employee relationships strengthen, and strong employee relationships dramatically increase retention rates. “Promoting team culture fosters a good relationship between your colleagues without any extra effort,” Luna concludes. All the benefits to an effective recognition program (productivity, development, retention, etc.) all cultivate a company culture where businesses thrive. Performance Scoring’s system allows organizations to change their recognition programs, and to do so measuring what leaders know matters to success in each organizational role, and there is no better time to get started than today!