A company is only as great as its employees.
People who have founded today’s great companies are often solely credited for their growth. They may be regarded as the geniuses behind top tech giants or formidable financial corporations.
But in truth, behind every formidable CEO is a team that brings his vision to life. Good employees make a business thrive, but it’s the great ones that transform start-ups into billion-dollar corporations.
Employee Satisfaction in 2023
Undoubtedly, employee satisfaction took a hit during the pandemic years. Fortunately, things started looking up in 2022. Gallup’s State of the Global Workplace reported that employee engagement reached a record high of 23% this year.
Still, not all statistics are in the green for the world’s workforce. In the same report, 6 out of 10 employees have done ‘quiet quitting.’ These individuals report being disengaged with work and not having a strong, reliable support system in the office.
People who are ‘quiet quitting’ no longer see the value in their jobs. And the resulting costs can be astronomical — to the tune of $8.8 trillion.
And last year was worse. According to BenefitsPRO, employee happiness has been in freefall since the beginning of 2023. The article explains that several factors need to be taken into account for the drop.
Company size is regarded as one such factor. Small and medium-sized enterprises tended to have fewer but happier team members. The study shows that when employers and owners are able to keep their businesses small, their employers are happier for a much longer time.
The New Hire Experience
It is worth noting that the trends around employee satisfaction do not just affect tenured team members. Even the new recruits are feeling the burn.
The same BenefitsPRO article talks about how onboarding sets the tone for how a new employee feels about their company. New hires want this process to include a presentation of the organization’s employee guidelines. They need to hear what its values and mission statement are to understand how they can contribute.
Needless to say, new team members need to be nurtured so they can thrive in a company. Unfortunately, not all companies offer the right resources and environment for them to succeed.
Managers need to be the driving force for this. Research published in the Harvard Business Review again points to onboarding as a crucial component in effective new hires. Systematic onboarding brings fresh recruits up to speed 50% faster.
Furthermore, through effective onboarding, managers can drive down failure rates. It can also contribute to increasing employee engagement and retention. Bosses who start to support their staff earlier will be in the position to get the best results from them.
Value of Recognition
There are other ways to keep new employees on the happy train past the onboarding phase. Showing appreciation for the new guy or girl’s progress can instill confidence and belongingness.
With that, here are some ideas that go beyond the printed certificate or nondescript coffee mug.
Plaques
A plaque of appreciation is often an effective and meaningful way to show how much a new staff member contributes. It is a tangible expression of how a manager (as the company’s representative) recognizes the time and outstanding effort that an individual has shown.
Plaques are manufactured out of metal and wood. Both materials exhibit strength and durability. Traits would also be deemed desirable in any worker.
Personalized Items
Bespoke gifts for valued newbies are not as common as the symbol of recognition mentioned earlier. However, a fountain pen with the recipient’s initials or a ladies’ handkerchief that’s personalized can be viewed as sincere gifts.
When using personalized items to show recognition, it’s important to do ample research. A quality product isn’t enough, as learning the preferences of the giftee is more important.
Experiences
A Starbucks gift certificate is nice, but a free spa treatment is even better. Or free baseball tickets with a meal coupon. New employees are hungry to be seen, and enjoyable, luxurious, or even once-in-a-lifetime experiences will make them feel special.
Conclusion
The main ingredient in fostering an awesome workplace lies in recognizing new employees’ invaluable contributions and nurturing their engagement from the onset. When you invest in meaningful recognition, you can help build a culture of satisfaction and loyalty.
As a business owner, how do you make sure new recruits feel included? How do you reward them for a job well done? Share your comments below!