Why Peer-to-Peer Recognition has THE Best ROI

In Recognition and Engagement, Retention by Lori McKnight

Be the reason someone smiles every day

Think of your culture if everyone recognized one person daily

Alex, You did a great job facilitating today's meeting. Well done! -Susan
Jack, Thanks for taking care of my client's tricky request. You make us all look good. -John
Lauren, Your attention to detail saved us considerable rework. Thank you. -Justin

Receiving kudos like this feels pretty darn good, right?

No expression of thanks is ever wasted. Being thanked for the everyday things employees do is like putting money away for a rainy day. It feels great AND helps people get through the not so great days.

If your organization only engages in top-down recognition, it will be very difficult to engage employees and cultivate a Culture of Recognition.

Build your recognition toolbox with Peer-to-Peer Recognition

Given 70% of recognition should be informal, non-monetary thank yous from peers, managers and senior executives is an easy and effective way to engage employees. It also happens to exist in abundance thus generating a positive return on investment due to higher productivity, better retention and a stronger culture – all KPIs that will boost your bottom line.

Since many teams aren’t physically working side by side anymore, stick it notes won’t work for everyone.

Peer-to-peer recognition software is a critical tool to bridge gaps and a way to appreciate people for their work at a moment’s notice.

Read: Engaging a Remote Workforce

Peer-to-peer thanks is particularly important to Millennials who want their achievements acknowledged sooner and more often than previous generations.

Read: Engaging a Millennial workforce

CSI STARS mobile-optimized peer-to-peer social recognition tools help employees connect, motivate performance and inspire others to sing their praises.

A clap and pat on the back

  • Everyone can give thanks, on any device in real-time
  • Employees throughout the company can see and welcome new hires
  • Peers can like, share and congratulate others on a job well done
Congratulations
Recognize now!
Well done!

When words just aren’t enough

  • Employees can give discretionary reward points to others for great work that can be redeemed for popular gifts, saved for a bigger ticket item, or donated to one of our 1 million charities or their child’s local team
  • Peers can nominate others for company-specific awards or send an eCertificate when they see colleagues going over and above and doing the things that reflect the company’s core values

Peer-to-peer recognition is an effective way to amplify participation in your recognition initiatives. Too many studies to count have proven employees who recognize others and feel appreciated are better performers.

Did You Know? Managers who give frequent recognition sell more, have more engaged teams, and enjoy higher retention.

Start with making one person smile every day by recognizing what they are doing to help you or the team. A little recognition goes a long way!

For help cultivating a Culture of Recognition, give us a call. You also might want to check out these 10 additional ways to boost engagement and 12 ways to “up” your office fun quotient.

Author: Lori McKnight

Lori McKnight
Lori is Vice President Marketing for CSI STARS and a Certified Recognition Professional. Prior to CSI she worked at Mercer Human Resource Consulting and Youthography, a youth market research agency. Connect with CSI STARS on LinkedIN to learn how we help organizations cultivate a workforce that loves coming to work.