Editor’s Note: This post is by Paul Slezak, Cofounder and CEO of RecruitLoop – the World’s largest marketplace of expert Recruiters and Sourcers available on-demand.
Employers know that good compensation and benefits are great motivators to help ensure they hire the best and the brightest. Yet not as many employers fully understand the value that the recognition of their peers can have for motivating their employees.
More and more companies are scrambling to find the employee perks that will set them apart as the most desirable place to work for the best talent in the industry. An effective peer-to-peer recognition program can be the ideal solution to help create a happier and more engaged workforce.
Simply put, peer-to-peer recognition works because it means more when employees get a pat on the back from someone with whom they share responsibilities or a workspace. When employees get a thumbs-up from a colleague who understands exactly what they do day in and day out, it can make them feel more appreciated by the rest of the team — giving them a sense of satisfaction that their efforts make a difference.
This not only helps individual employees feel more motivated in their jobs, but it also helps to build a stronger sense of community and morale within the entire organization. What’s more, businesses can improve their employee retention rates and better attract top talent to their organizations.
Having a successful peer-to-peer recognition program can make a significant difference for your business. The following guide put together by Carl Martens – resident catalyst for change at Award Concepts – details the most important elements you need to know about these programs and how you can implement them in your workplace.