Each year, tens of millions of Americans make New Year’s Resolutions.  You probably make personal New Year’s Resolutions yourself, but have you considered making one for your company?  If that idea intrigues you and you’re struggling to come up with a suitable business-oriented resolution, may we suggest making Employee Recognition more of a priority this year?

Employee Recognition is something most business owners like to talk about, and many actually act on, but there are a surprising number of firms that don’t yet have any sort of formalized recognition program in place.

That’s too bad because it’s as good as leaving money on the table.  The issue of employee recognition has been studied for decades.  The results are not only in, but they’ve also been repeatedly verified.  In brief, employee recognition, done well, will:

• Improve employee morale
• Reduce stress levels at work and create a better environment overall
• Increase Employee engagement
• Decrease turnover rates
• Boost productivity

And if all of those weren’t enough, recognition is also a key component of getting and keeping the top talent in whatever industry your company operates in.

If you don’t already have an employee recognition program up and running at your firm, a great way to kick 2024 off would be to launch one.  If you do, make it employee and data driven, and give the steering committee enough resources to really put some teeth into it.

If you have a recognition program in place already but the results you’ve been getting are underwhelming, it’s time to dust it off, meet with your steering committee and find out what’s causing it to underperform.

Either way, it’s a superb New Year’s Resolution to make that will help you take your company to the next level.  2024 stands to be a very good year for business and you want to make sure yours is poised to take advantage of all the opportunities that may arise as the new year unfolds.  Ensuring you’ve got a robust recognition program in place is an excellent way to start!

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