What is Employee of the Month?
The Employee of the Month award enables employers to commend their team for effort and achievements. Many companies use this as a way of showing appreciation, congratulating, and even motivating staff. There are many other ways that Employee of the Month awards can benefit your business and your objectives. It can also have an amazing impact on your work culture.
So, if you are yet to hold Employee of the Month awards, or wish to learn more about how you can cultivate a positive work culture in your business, keep on reading.
The Employee of the Month is a very simple yet effective scheme. It rewards an outstanding employee, this is usually decided by a board, manager, or the rest of the team. The winning employee may receive a gift, certificate, or incentive. Some businesses may choose to have their EOTM on a noticeboard to showcase their appreciation.
Why is this beneficial to you as an HR team or employer? Let’s take a look at 5 key reasons why you need ‘employee of the month’ for your business.
1. Positive Work Culture
‘Employee of the Month‘ is great for creating a positive work culture. Recognition is essential for employee wellbeing and high performance. And both of these factors can significantly impact the success of a business and its people. Positive work culture can also help you attract, hire and retain the best people for your team.
2. Employee Recognition = Keep Your Talent on the Team!
You should continually reward your employees and show your appreciation. EOTM allows you to showcase this gratitude. A study showed that almost half of employees agreed that they would leave a company that didn’t praise them or thank them enough for the work they did (1). So, if you want to keep your best talent in the business, create a culture of appreciation and shout about people’s achievements.
3. Increase Productivity and Motivation
Good Company Culture + Employee Recognition + Clear Objectives = A more motivated and driven team.
EOTM can encourage people to be more driven and act as a form of healthy competition. This kind of recognition helps reinforce your business’s values and goals, making people more aligned with your vision.
4. Increase Morale
Inexpensive things such as certificates, letters, and public recognition are shown to increase intrinsic motivation and morale (2). Creating a work culture that celebrates success and good work is also linked to happier employees and in turn, higher retention rates.
5. Employee Wellbeing
Lastly, Employee of the Month awards can help improve your people’s wellbeing. Employee wellbeing is the overall emotional, mental, physical, and economic health of your employees. Many factors contribute to this, but implementing reward and recognition schemes is a great way to make people feel appreciated and part of a winning team. Make sure that you award for resilience and personal growth, not just sales or numerical targets.
Why Do You Need Each Person’s Recognition Scheme?
Are you looking to put employee recognition at the forefront of your business? Choose Each Person to help you do it.
Our solution offers visibility to your company values. It enables you to reap the benefits of employee recognition and the brilliant work culture this can bring. We have automated tools and features so you can quickly provide credit to your employees. Start seeing the amazing results that Employee of the Month and employee recognition schemes can offer by getting in touch with us today.
Sources:
- Tom Conran, ’21 employee recognition statistics worth memorising’, Reward Gateway, https://www.rewardgateway.com/uk/blog/21-key-employee-recognition-statistics
- Shibeal O’Flaherty, Michael T. Sanders, Ashley Whillans, ‘Research: A Little Recognition Can Provide a Big Morale Boost’, Harvard Business Review, https://hbr.org/2021/03/research-a-little-recognition-can-provide-a-big-morale-boost