Why Employee Recognition is Vital to Organizational Success

cup-1010916_960_720MMR has grown significantly in the past year alone. We’ve added new offices and expanded existing locations, adding new facilities to service our growing professional community. At the same time, we’ve been fortunate to receive several awards and the honor of being considered one of the Best Places to Work in Baton Rouge. Such success, we know, is a testament to the brilliance of our workforce and the privilege I’ve been afforded to lead a team that not only understands the company’s vision, but is passionate about bringing it to fruition. Thusly, a part of our company’s culture is celebrating one another and recognizing the efforts of the team.

If you frequent MMR’s website or follow us on social media, you’ll see multiple examples where we highlight individuals whose contributions benefit the entire company. Many times these individuals have worked with MMR for decades, making an invaluable impact on every part of the company just by doing their jobs. So we make it a point to say thanks, and I think every organization, large or small, should do the same.

Of course, recognition is not a requirement for employing people. Subsequently it is often overlooked as long as fair pay and benefits are provided. However, employee recognition (or the lack of it) has a major impact on the success of your business in the following ways:

  • Retention: Recognition of great work is likely increase employee loyalty. When employees feel valued where they work, they will stay (and may even bring along promising recommendations). Why is this important? Employee turnover stalls growth. Having to use value time on retraining and getting new hires up to speed can be counterproductive for key goals. Additionally, it hurts the bottom line. The amount of loss increases when replacing more experienced employees, and the longer it takes to find them.

  • Morale: Creating a workplace in which people feel excited about coming in, and are ready to work when they do, is essential to a thriving organizational culture. Acknowledgement of the time and effort people invest into the company’s goals will encourage continued, meaningful investment and it is infectious–as is low morale, so do what you can to keep engagement high.

  • Productivity: With high morale comes an increase in productivity. That means employees  can get more done more done more efficiently. When this is the case, continued growth and expansion as an organization is inevitable, creating a cycle of success that reaches every level of the company.

Take the time to give back to your employees by acknowledging their effort and celebrating success. It makes a world of difference for the company at large and it’s the right thing to do.