Though the bulk of a total rewards package may come from pay and benefits, a sincere acknowledgement or thank you from a colleague supports employee motivation and the ability to work as a team.
Though leaders should still offer individual recognition and feedback, encouraging peer-to-peer recognition creates a culture of positive recognition and reaches more people. According to Gallup, the number-one reason most people leave their jobs is that they don't feel appreciated. Workplaces that adopted a peer-to-peer recognition system show a 26% increase in engagement scores from the belief that they are doing great work that their peers appreciate.
Check out some of the "15 Slam-dunk ideas for peer recognition" from Insperity for some free or inexpensive ways for you to encourage a voluntary system of peer-to-peer recognition. As a preview, some are as simple as:
giving everyone a pad of sticky notes with the goal of using that pad just to leave specific, positive notes on coworkers' desks,
passing around a trophy or stuffed animal for outstanding effort that week , or
sharing a personal, health, financial, fitness, or spiritual goal with each other and then having peer recognize personal accomplishments as individuals meet their goals.
Do you have a peer-to-peer recognition system that you want to share? Let us know in the comments.