Motivate Employees with Recognition
Corporate leaders often proclaim that their employees are the most valuable asset of their organization. Yet, a recent study conducted by Clear Review and reported in Business found the number one workplace frustration with employees was a lack of appreciation of effort and performance. Over 40 percent of employees felt that employee recognition was not a priority in their business. How do leaders and employees see it differently? Unhappy employees can lead to loss of morale, decreased productivity, and a higher turnover rate. Motivate your employees by learning what works for me, Andres Pira – Founder and CEO of Blue Horizon Developments in Phuket, Thailand.
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THE 18 PRINCIPLES TO SUCCESS
Don’t Emphasize Money, Focus on Engagement and Recognition
Everyone knows if you want the best, you need to pay the best. Employees know their worth. Corporate culture adheres to the philosophy of “that’s what they are being paid for” instead of praising employees’ work. Money can only motivate employees for so long. Employees need recognition and acceptance. They want employers to acknowledge that their work is contributing to company success. American psychologist, Abraham Harold Maslow‘s hierarchy of needs states the most valuable psychological needs as appreciation and belonging.
Tenure Alone Shouldn’t Merit Employee Recognition
Homeless to Billionaire
Recognize Your Employees Today
I believe in not only celebrating the success of an individual employee but of the whole team by organizing outings for all of my employees. In my book, Homeless to Billionaire, I discuss ways that I celebrate with my employees, like the time my sales team broke a long-lasting sales record and went to the summit of one of Southeast Asia’s highest active volcanoes! Not every celebration has to go to the extreme. The job site, Cleverism recommends three types of employee recognition that would suffice: Day-to-day, informal and formal.
- Day-to-Day Recognition – Motivate and encourage employees to perform well on a daily basis by using words of praise, encouragement and constant motivation.
- Informal Recognition – A pat on the back or words of praise in front of the entire team can go a long way, especially when it comes to boosting staff morale.
- Formal Recognition – Organize events to celebrate your employees’ achievements.
HOMELESS TO BILLIONAIRE
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Recognizing your employees is crucial if you genuinely believe that they are your greatest asset. You must make a concerted effort to prove it to them. Don’t make them wait 40 years for a gold watch and their moment to shine.
About Andres Pira – philanthropist, real estate tycoon, author, speaker, and global citizen. Andres Pira enjoys living in Thailand where his journey began from Homeless to Billionaire.
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