The Failure of Employee Recognition in This Specific Industry

by Sabrina Son on Dec 17, 2016 5:00:00 AM

When recognition fails

If transparency isn’t the cause of this dissatisfaction in the finance industry, what is? It turns out recognition and appreciation, or rather the lack thereof, are playing a major role.

When asked to rate on a scale of 1 to 10 how well they were recognized for doing a great job, a paltry 21% answered a 9 or 10, meaning very few feel truly well recognized on the job.

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Is it any surprise, then, that when we asked employees how valued they felt at work, only 20% said they were strongly valued?

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And their candid responses on the subject are cringeworthy:

I do great work all year, very rarely do I even get told Im doing a good job. Come review time all is forgotten and Im only reminded about a few things I could have done better. Maybe it’s to make me grow, maybe it’s because you know itll keep me working hard to try to please someone, either way its depressing.

I am not looking for a pat on the back every time I do something for a coworker or a customer. But I think my hard work has been ignored. I have gone above and beyond in many ways and never recognized for it.

No recognition or acknowledgement for hard work, commitment, and achievement. Extremely disappointing. Lately I have felt no matter how much work you do, it is not recognized, only the bad things are brought to light and blown out of proportion. One or two people may say "Good Job" but for the most part, I feel as if the perception of me is that I am a waste of cubicle space.

 

How to Make Recognition Part of Your Workplace

Employee recognition and appreciation tools are a critical part of making employees feel valued for the time, energy, and effort they put into meeting organizational goals. That’s why Cheers for Peers is a critical part of our TINYPulse tool. It includes all the recognition tool best practices to help drive positive cultures of appreciation:

  • Leverages peer-to-peer recognition: In today’s cross-functional, multinational workplaces, the traditional manager-subordinate recognition structure is outdated. Tools that allow colleagues to give each other praise better capture the dynamic of peers helping each other regularly in the workplace.
  • Is digitally accessible: Employees are tech savvy and expect their tools to be digital. Make sure any tool you select works across desktop, laptop, tablet, and smartphone devices.
  • Ensures 24/7 access: Great deeds happen all the time. Make sure whatever tool you use is always available so recognition can be given on the spot.
  • Includes sharing features: The only thing better than being recognized for a great job is others knowing how hard you worked. Find a tool that makes sharing recognition of good deeds across your organization a cinch.

 

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This post was written by Sabrina Son

Sabrina is the managing editor for the TINYpulse blog. A Seattle native, she loves her morning (or anytime) coffee, spending her weekends on the mountains, and of course, the famous rain.

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