Employee Recognition Programs for Any Sized Business
Recognition for Any Size
Employee Recognition is a movement that is growing. Company Culture is quickly becoming one of the top recruiting tools and is without a doubt the number one retention tool. Glassdoor reviews that dog on culture are crippling companies. Creating company culture is vital to having a productive and successful company, especially if you have a small or medium sized business that is growing. So why don’t all companies have a great culture?
Building a great company culture requires more than catered lunches or cool perks, those are great tools, but it is deeper. It requires employees to feel wanted and appreciated. More and more companies are adopting titles like “Culture Specialist” or “People and Culture” in an attempt to create programs or initiatives that will allow their company culture to grow and improve. These employees are not equipped with the right tools to establish a company culture program. Small and medium sized businesses do not have the budget to create their own program, and if they do, they are going to end up losing money on cost ineffective methods.
The Old Way
In the past in order to have an employee culture or employee recognition program you needed to be a Google, who spends 80 million a year just on food. Companies of 500+ employees needed to pay between $5 and $12 a month for rewards or recognition programs that were limited to digitizing spot bonuses. Spot bonuses were the king of recognition. Employees worked to receive these bonuses but never new if or when they would come. Other traditional methods are setting goals like “you can go home early if…” or “company party if we sell” these methods work as short-term incentives and may motivate employees for a brief period. Employee engagement has never been lower across all companies are part of this is the epidemic of spot bonuses and other bonuses. Rather than shoveling more money on top of employees it is time to allow them to feel recognized, respected, and needed in their current positions.
Peer Recognition is the New King
Peer-to-Peer Recognition is the new guy in town. Companies are adopting different systems to allow employees to recognize their peers for jobs well done. The benefits of having a peer-to-peer recognition program are that employees feel appreciated by their team and validated for their work. Companies have been doing this over time with any number of ways in past from placing marbles in jars, giving redeemable tickets, and other programs. The reason for these initiatives is that most companies who sell recognition software require large budgets to cover the platform itself and all initiatives to reward employees. This is costly for all companies but especially for companies that are below 500 employees and so they remain using their spot bonuses to try and compete.
How to Set Up a Recognition Program
Setting up a recognition program can be time consuming and difficult, especially if you are a small HR team. You have to determine best practices and what makes the most sense to reward employees. Employee Feedback systems are a must to understand what is working and what is failing. Employee Perks go hand and hand with Employee Rewards as well as employees want to see that being enrolled in the program is worth it. All-in-all setting up your very own recognition program is a hassle that most would prefer to avoid.
What’s the Solution?
Nectar HR is the solution. The founders of Nectar HR recognized that there was a flaw in recognition platforms. Most companies are driven by an enterprise selling business model that requires multiple conversations with a specialist to even make a sale and then weeks of implementation. As a result the only companies that make their time worth it and turn a profit are large companies. They don’t have a solution for the average sized company and so there is a massive disconnect. Enter Nectar. Nectar HR launched a free Employee Engagement Platform, complete with Peer-to-Peer Recogniton, Employee Rewards, Employee Perks, and Employee Feedback. Nectar HR realized that smaller HR teams didn’t have access to the tools that came from most Employee Recognition Companies. They also made the implementation of their platform completely self-service. Signing up for Nectar takes 3 steps and that includes onboarding your entire company.
Why Use Nectar?
Company Culture has a direct relationship with employee retention. Every industry is moving towards the need to recognize employees (you can thank us millennials for that). Using Nectar is a cost effective way to launch an employee recognition program without having to pull out your hair. Nectar HR allows companies to take their existing recognition initiatives (gift cards or spot bonuses) and plug that directly in to their platform to create a more organized and involved system. Small and Medium sized businesses need a recognition solution that fits them, and Nectar HR is that Solution.