Increasingly, peer-to-peer recognition is emerging as a popular and effective way of employee engagement and motivation across organizations. Experts consider it to be an important contributor towards building an excellent organizational culture, which impacts employee satisfaction and retention. When implemented and managed in the right way, peer-to-peer recognition can offer a wide range of benefits for the organization.
In recent years, peer-to-peer recognition has emerged as a powerful technique for organizations to drive employee motivation. Being recognized and appreciated by their peers give employees a greater sense of satisfaction, self-worth, acknowledgement, and achievement.
The important benefits are as follows:
Peer-to-peer recognition empowers employees with the necessary tools to praise others, appreciate their accomplishments and provide positive feedback. Therefore, this makes them feel truly engaged and helps build a great team.
Moreover, it provides employees with an opportunity to share their views and opinions beyond their own assignments and responsibilities. This creates a more friendly and atmosphere at work and promotes development of strong interpersonal bonds between employees. This ultimately contributes towards creating a positive work culture.
A culture of recognition involves peers helps foster a deep sense of collaboration and camaraderie among coworkers. Hence, appreciating their colleagues’ contributions and achievements improves team spirit and bonding between team members.
Also, being able to recognize and reward the efforts and achievements of co-workers give employees positive energy and happiness. They feel a greater sense of empowerment about the entire process of recognition. This creates a greater sense of empowerment and hence ensures a greater level of participation. This, in turn, has a positive impact on employee efficiency and productivity.
Also, organizations strive to create a transparent and open work culture. Hence, implementing peer-to-peer recognition systems helps in enhancing the level of trust and camaraderie between employees. So, employees feel free to share their opinions and express their views in a free and frank manner. So, as employees become more open with each other and their seniors, the work environment becomes increasingly transparent.
In fact, it is a misconception that popularity of peer recognition may make managers and leaders irrelevant in the whole process. Actually, promoting peer–to–peer recognition program will still remain the responsibility of the managers. Also, despite the effectiveness of peer recognition, employees would still want to be appreciated for their achievements by their superiors.
In fact, most employees may consider appreciation from their managers as valuable (if not more) as recognition from their peers. Hence, it would be safe to say that the management will continue to play an important role in employee recognition.
Peer-to-peer recognition has become an important part of the workplace today and has been helpful for organizations in improving employee satisfaction and well-being, which directly impacts organizational performance and retention.
To stay updated on the latest HiFives blogs follow us on Twitter (@MyHiFives)