I just read a great blog by Robert Eckert - former CEO of Mattel in the Harvard Business Review ( www.hbr.org ) on the two things that all employees want - recognition and praise.
We often overlook this as an effective tool for motivation and retention. Instead we focus on compensation and perks rather than two of the most powerful motivators around - the need to be wanted and the need to be validated.
Too often the focus seems to be on the exotic perks - foosball tables or massage chairs anyone? - rather than on things that can have a greater impact and meaning:
- A sincere thank you
- Recognition from your peers and senior management for a job well done
- Validation
Creating a culture of recognition and praise will deliver tangible business results - increased productivity, higher retention rates, and more effective recruiting. With employee engagement levels and job dis-satisfaction at low levels organizations will need to look inward towards more recognition and praise if they want to retain their team.
It does not take a major financial investment to improve in this area. It takes a commitment from management to develop, nurture and maintain a culture where they take the opportunity to celebrate wins, give praise where praise is due and show everyone in the organization that they are valued for the contributions they make.
