Recognition in Tough Economic Times
Every business today is examining the necessity of formerly "essential" functions and expenses in microscopic detail. Necessary in a challenging economic climate, yes, but this kind of tightening has one significant result that can't be ignored. Employees are being asked to do more…much more.
From finding creative ways to maximize budget dollars to taking on new and unfamiliar responsibilities to increasing productivity in staff members who are already stretched thin, each employee is being asked to step up, pitch in and do more with less.
This is the time when an effective, cost-conscious approach to recognition can pay big dividends. Consider these key criteria when selecting your approach.
- It doesn't need to be costly to be powerful. Study after study has shown that the majority of employees place a higher value on recognition items than on monetary rewards. Easy to understand when you consider how much heart your staff has put into their work during this difficult time. The mere recognition of their over-and-above contribution is what counts.
- If you've been drastically reducing budgets, be sure to choose a moderately priced recognition item that will not be off-putting to your staff like instant recognition items. No one wants to see the company's money being spent frivolously when they are working longer hours and scrutinizing their own department's budgets. Certificates, available for just pennies apiece, make a strong statement at an affordable price.
- Make it personal. Keep it simple with a greeting card with your own handwritten note and signature. Acknowledge each person's specific contribution with a medallion or lapel pin featuring an appropriate message. If your budget permits, make recognition a slightly bigger "event" by handing out unique, customizable items like our glass Shining Example gems.
In times like these, human capital is your most valuable resource. However you choose to go about it, don't forget to acknowledge the extraordinary efforts of your team throughout the year…small can make a big difference.