Research shows that when workers are recognized they're 82% happier. While recognizing workers might seem like a simple task – there's a misperception that exists. Eighty-nine percent of executive-level leaders believe recognition is doled out fairly at their company. The reality—only 62% of people in intermediate positions agree with them.1
Rewarding and recognizing your team leads to increased engagement, and in turn can yield increased retention and improve the overall workplace dynamic, helping to rally the team around common goals.
Recognizing people for their accomplishments sends a clear message that their efforts matter. To ensure fair recognition, you must reward your team based on their unique preferences, acknowledging it's not the same for everyone.
Here are five reasons why rewards matter to your people.