Many companies focus their employee engagement efforts on the manager to employee relationship, and although this level of recognition is important, they may be missing out on an extremely impactful relationship – those between peers.
Having a Total Rewards program that allows for peer-to-peer recognition is an awesome way to create team spirit and a sense of belonging, plus drive exceptional internal service.
The Ability to Recognize and Be Recognized
When peer recognition is ingrained in the company culture, it creates a workforce that keeps engagement top of mind at every touch point. When you think about it, how many of your daily interactions are made with your direct supervisor, and how many with your colleagues? It will vary depending on each role, but there are many roles in which most daily interactions are with colleagues versus managers.
When you allow for peer-to-peer recognition in your Total Rewards program, you are giving each individual employee the ability to recognize and reward their colleagues, and to be recognized by their colleagues. This keeps recognition top of mind in all of your employee’s daily interactions and fuels the fire of employee engagement and motivation within your organization.
Monetary and Non-Monetary Recognition
Effective peer-to-peer recognition does not have to just be in monetary form, it can also take on the form of a simple Thank You or acknowledgement of a peer in front of their colleagues. When you have a Total Rewards platform to do this, it formalizes a culture of rewards and recognition and gives employees a way to be part of that culture in a collaborative environment on a daily basis. Read more about why you want to create recognition at every touch point.
For example, at GES we use our Total Rewards platform to thank one another in the Total Rewards’ social feed. Sometimes it is as simple as saying Thank You to each other for contributions to a project or going above and beyond to help each other out. Sometimes it involves giving each other points or monetary rewards that can be exchanged for gift cards, merchandise and more! It’s a very personalized experience and always makes me happy to both be acknowledged, and see other people being acknowledged in our platform!
Benefits of Peer to Peer Recognition
Having the ability to recognize peers in your Total Rewards program has many benefits including:
- Encouraging teamwork
- Recognizing exceptional behaviours and setting the bar for others
- Fostering employee friendships
- Creating an organic expression of gratitude
- Supporting a culture of recognition at every touch point
- Giving employees the ability and power to recognize how they want to recognize
- Improving the internal service chain
- Making recognition more interactive and social
Peer-to-peer recognition is an important, but often overlooked aspect of a Total Rewards program. It can be an extremely influential piece to your Total Rewards program that helps to continuously drive engagement in your organization.
If you would like to learn more about how to harness the energy of your people with peer-to-peer recognition, get in touch for a demo of our Total Rewards solution. We look forward to chatting!