Imagine if every new hire moved up the ranks to become an experienced and productive employee in your company.
Of course, it goes without saying that this is the hope you hold out for everyone who joins your organization. And yet, those hopes fail to come to fruition more often than we like to acknowledge.
In 2022, the Bureau of Labor Statistics found that the average tenure of employees has recently dropped to just 4.1 years. And 40% of those who quit do so within their first year.
This high turnover rate brings with it implications for your bottom line. The Society for Human Resource Management estimates that the average cost for every new hire is about $4700. When left unaddressed, this can add up to substantial losses for your business over time.
This information has many leaders wondering how they can not only attract new talent, but also retain it for the long term. The solution to that problem may lie in appropriate and effective employee recognition programs.
What Is Employee Recognition?
“Recognition” is a blanket term for the many ways in which companies show gratitude and appreciation for the work of their employees.
You might think recognition may translate into some form of monetary reward. However, the most effective forms of recognition come in the form of frequent, timely acknowledgement and attractive, tangible rewards.
Employers may choose to recognize all kinds of behaviors as a way of promoting positive culture in the workplace, including achievements and/or milestones.
Why Does Employee Recognition Matter for New Hires?
You might wonder why you need to recognize the efforts of new hires, when they may have not yet had the opportunity to make a meaningful impact.
Just by looking at the statistics above, we can see how the success and confidence of new hires contributes to the overall productivity of your company.
By providing positive reinforcement from the very beginning, you make an essential investment in new employees by building confidence and establishing a rapport with colleagues and leaders.
If your company has already established a strong Culture of Recognition, all you need to do is bring new employees into that culture as part of their onboarding.
Demonstrating recognition for hard work sets a standard. When new hires see that everyone is expected to participate in creating a positive environment, they will be more likely to buy in and more likely to stay invested.
Setting these expectations also promotes a positive image of your business. When newcomers feel welcomed, they will convey those impressions to others, building positive associations for your company in the public eye.
Different Kinds of Recognition
When we think “employee recognition,” we automatically think of recognition from a manager or leader. However, peer-to-peer recognition is often just as powerful. And when these forms of recognition are tied to tangible rewards with trophy value, they advance the Cycle of Motivation and cause the impact of this effort to increase exponentially.
Even anonymous recognition, such as a handwritten note left on their desk, can also be highly motivating, as it can add a dimension of sincerity to the acknowledgement.
There are many creative ways to recognize the efforts and achievements of new hires.
You might consider implementing a workplace recognition calendar into your company routines. This way, you can bake all kinds of recognition opportunities right into daily life through special days like Employee Appreciation Day, National Work from Home Day, or even something more industry-specific like National Educational Support Professionals Day.
Personalized items such as desk awards or framed certificates or photographs are also great ways to show appreciation and commemorate important milestones.
It’s certainly a nice gesture to hand out a generic “Well done” to employees on occasion. But when it comes to new employees, research shows that the most effective feedback for learning is tied to specific accomplishments.
When you want to offer recognition, it’s best to do so as promptly as possible. If feedback comes weeks or months later, it won’t be as effective. Your new employees may see the recognition as fake or forced if they have to wait for it long.
It’s helpful to set a very specific timeline in place which prioritizes employee recognition and provides it in a timely manner.
The Big Picture
Your new employees will feel more invested in positive behaviors if they clearly see how these relate to the overall mission and vision of your company.
So when you provide recognition, try to tie it into a specific company value. This will encourage more workplace behaviors that align with your overall mission.
The Little Things That Mean a Lot
It can be all too easy to limit your focus to major accomplishments. But don’t miss all the little opportunities to recognize small, everyday wins. This is especially true of your new recruits who need to feel that even their smallest contributions are valued.
Try giving new employees a handwritten thank-you note or send them a shoutout via company email.
It doesn’t take a rocket scientist to know that an appreciated employee is a happy employee. And a positive experience from the very first day at your company can lay the foundation for a long and happy career in your organization.
The truth is that unhappiness in the workplace often spills over into other areas of life. Employees may take their negative feelings home with them. Over time, this can build a negative perception of your company in the eyes of the public.
Conversely, a happy employee will spread that emptiness not only to family and friends, but also to colleagues, promoting a positive work environment for all.
Ultimately, the biggest benefit you gain from providing recognition to new hires is reduced turnover.
With each new hire, you must start all over again from the beginning with intensive training and onboarding to transform that new hire into a productive member of your team.
This process will eat up dollars and working hours, compromising your overall company productivity.
Reach Out to Xceleration Today
It’s clearly in your best interest to keep new hires on for the long haul so you don’t have to repeatedly engage in this costly and time-consuming process of training new employees.
Here at Xceleration, we have the expertise to develop recognition programs that start at the moment of onboarding, leading to a happy, productive and engaged workforce for your company.
If you’re ready to make a meaningful investment in the success of your new hires, reach out to us today.