As we all know, recognizing your team can go a long way in improving productivity, morale and mental health. Showing your team that you appreciate them will help them feel that their hard work is paying off and that they are valued members of the company. In turn, this makes them want to continue to improve their performance and productivity.
Apollo Technical states that over 91% of HR professionals believe that recognition and reward make employees more likely to stay. An employee who has been recognized is 63% more likely to stay at his or her current job within the next three to six months, according to another study. Saying thanks and showing appreciation can be a small gesture that results in big rewards for your employees and the business.
5 Ways to Recognize Finance and Accounting Employees
1. Celebrate wins
When your team member has a win – big or small – it’s important to recognize and celebrate it. Showing your team that you are excited to support their accomplishments shows them their hard work was worth it and encourages them to give their best efforts toward future projects as well. They will see that you notice them putting in the work to help your team get ahead.
How you celebrate them depends on their preferences as well – it could be in the form of gifts (if budget allows) or a company-wide email or giving them some time off.
2. Extra rewards
Incentivizing your team will motivate them to give their best, especially when it comes to finance and accounting. Bonuses and other extra commissions are a great way to show recognition.
If you see top performers or other employees who consistently go above and beyond their goals, giving them extra cash will go a long way in motivating them to continue to meet these goals. They feel content and appreciated as well.
3. Use verbal acknowledgement
A simple “thank you” or “I appreciate your hard work” goes a long way in making your employees feel good. You can even send them a personal note, email or meet them in their office or on a Zoom call for a quick chat.
The more gratitude you can show your team, the more they feel appreciated and that they are a valued member of the business.
4. Give shoutouts
Quick shoutouts during team meetings are also a fun way to show recognition. You can set aside some time during a meeting to dedicate it to all team members, giving recognition and calling out the outstanding work by individuals. This way, all members can participate and hear something good about themselves.
Members who are in behind-the-scenes roles can also get a shoutout which will help motivate them to continue to strive to meet important goals.
5. Take time to get to know them
Last but not least, genuinely get to know your team members and understand what motivates them, what their professional and personal goals are, and what they want their growth to look like at the company. Taking time to understand them is a great way to show your team that you value them and that you want to continue to help them meet their achievements.
Additionally, suppose they want to pursue professional development such as certifications or want to explore opportunities in other areas of the company. In that case, this can give you an opportunity to guide them in the right direction.
Giving recognition and showing that you care about your employees goes a long way in improving employee satisfaction, productivity and loyalty. You want employees to feel like they are working at a company that truly appreciates them and wants to help them grow. So, go ahead and say thank you to that top performer, or set up a recognition meeting for your whole team to participate!
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