The Power of Recognition for Employee Engagement and Performance

Employee recognition is essential for cultivating a positive work environment and a thriving company culture. By regularly acknowledging and rewarding employees for their contributions, your organization can boost employee engagement, performance, and retention.  

Recognition can take many forms, from public shoutouts on social media, to financial incentives for hitting professional development milestones, to quarterly awards for high performers. The key is finding what best fits your organization and makes your employees feel valued. 

Read on to discover why you should leverage the power of recognition and actionable tips to get you started!  

Why Employee Recognition is More Important Now Than Ever Before  

Investing in a culture of recognition is vital for making your employees feel engaged with your organization and its mission. Gallup research shows that 70% of workers today are disengaged, and this number is even higher for employees under 35. And with a potential leadership gap looming in the risk management and insurance (RMI) field, it’s more important than ever to engage your emerging talent.  

A recognized employee, on the other hand, is five times as likely to be connected to company culture and four times as likely to be engaged. This engagement leads to enhanced job satisfaction, a greater sense of belonging and loyalty, and an increased motivation to contribute to team goals.  

4 Tips for Leveraging the Power of Recognition within Your Organization    

If you’re looking for inspiration to enhance employee recognition efforts in both the short and long term, try implementing these tried-and-true methods. 

1. Establish Clear Recognition Criteria  

Provide clear goals for your employees to work towards, and then celebrate them when they achieve important milestones. For example, if you have structured learning pathways, your employees will understand how to progress in their professional development and which credentials are most valued for their career path.   

This structured approach also brings equity to career advancement and shows your employees that commitment to development and performance will be recognized and rewarded. 

Explore our guide for sample learning pathways covering the entire RMI employee lifecycle: from onboarding, to technical development, to strong leadership.  

2. Use Formal and Informal Recognition Methods 

You should make a commitment to celebrate wins both big and small. When an employee in your organization completes one of The Institutes Designations, for example, do they earn a bonus? Is the credential worked into promotional criteria? 

Financial and promotional incentives are powerful motivators, but you can celebrate hard work in other ways too. Try highlighting accomplishments in a company newsletter, all-hands meeting, or social channel. You can use this recognition graphic template to quickly create images that can be shared to enhance your employee recognition program. 

And for everyday wins, encourage managers to show appreciation on a more personal level. A quick email or message acknowledging a job well done can make a big difference. 

3. Foster Peer-to-Peer Recognition 

When you develop a culture of recognition, your employees will begin to cheer each other on as well. Encourage team members to share their learning achievements with their managers, peers, and social networks.  

You can use this communication template to inspire employees to proudly share their accomplishments. And when they do, be sure to interact with their posts from your organization’s accounts to fuel excitement and motivation!  

4. Ensure Recognition is Timely and Specific 

Recognition is most powerful when it’s delivered close to the achievement. Set reminders or a consistent schedule to recognize and celebrate employees within your organization who achieve a major goal or milestone, like earning a designation.  

Remember that if you’re a corporate client of The Institutes Knowledge Group, you have access to detailed reports on exam statistics and designation completers, among others. Explore our Key Person Resources Manual for step-by-step instructions on viewing and exporting reports, reviewing student scores, and more! Then, use this information to recognize your high achievers.  

Use Recognition to Boost Employee Engagement and Your Bottom Line  

The power of recognition influences every aspect of your organization, from motivating employees to boosting profitability. Start putting these recommendations into action and get more tips and tools by subscribing to our Key People Resources today.  

To learn more, contact Sales@TheInstitutes.org.