Many leaders believe that income is the only source of employee happiness. However, only money is not important for team building. Money can provide job satisfaction, but many employees said that peer-to-peer recognition matters more.
According to Avidon, Founder of Avidon Marketing Group, “One of the main reasons why we fall in love with our work is the relationships that we build with our peers while on the job.”
You need to gain the trust of your employees and understand if your team is happy or not. If you are looking to build a strong team, then you need to take peer-to-peer recognition seriously. But what exactly is peer recognition? How can one make a business through it? What are the tips to increase peer recognition in your team? Too many questions! Here I am with all the answers. In this article, you get a detailed description of peer recognition. Here we go!
What is Peer-to-Peer Recognition?
Peer-to-peer recognition is the act of acknowledging an employee’s skills, talent, and work. It is between team members who don’t manage or report to one another.
Peer-to-peer recognition is considered more effective and personalized than manager-to-employee recognition. Small gestures like a thank you note or saying an excellent job in a team meeting can encourage employees.
Tips To Increase Peer Recognition in Your Team
According to Marriot Winquist, Ceo, and executive leadership coach and consultant at BrightTree Consulting LLC,” True recognition demonstrates attention and appreciation amongst team members and reinforces a culture of trust, which is one of the key foundations of a high-performing team.” Therefore, we have got a few tips to increase peer recognition in your team.
1. Be Clear
It is the most important thing in peer recognition. You must be clear and specific when showing recognition. You must have answers to the following questions.
Who is being recognized?
What exactly did they do?
Why is it important?
How much did it impact the organization?
Giving clear recognition will not only motivate the team but will also help to create a great company culture.
2. Make it Fun and Easy
The best way to ensure peer recognition in a rich culture is to make it fun and easy. If it is not easy going and funny, it will tend to lose the interest of your employees. If you make the process complex, it will create a toxic environment and will degrade the company’s value. Therefore, it should be fun and easy for employees to nominate a peer or give commendation.
3. Give Meaningful Feedback
According to Marriot Winquist, CEO and executive leadership coach and consultant at BrighTree Consulting LLC, “ Recognition should be meaningful to those who receive it, and not necessarily to those who give it.” Fostering meaningful feedback is the key to increasing peer recognition in your team.
4. Work on your Timing
Timing is crucial! Don’t wait for someone to exit the doors for the recognition they deserve. Carve out time to recognize team members on weekly or monthly calls, but also make sure to acknowledge their contributions right after the moment. It will make them glad that they received recognition, the recognition is more powerful and beneficial if it is immediate.
5. Be Inclusive
Christian Eilers, Career Expert at Goodwall says, “ Try not to overly recognize a single person or team in public, even if they deserve it. Top performers are great employees that you want to recognize, but not to the detriment of a greater team or company.” Therefore, ensure that your recognition program is inclusive. With better inclusion, your team and employees will feel valued and appreciated.
Benefits of Peer Recognition
Peer recognition is essential for human happiness, not only at the workplace but in all aspects of life. Here are some of the benefits of peer recognition between coworkers at the workplace.
Increases employee satisfaction.
Improves employee relationships.
Increase confidence in knowledge and abilities.
Promotes good values and company culture.
Creates trust between workforce and management.
Boosts motivation and productivity.
Long-term employee engagement.
Builds a strong team.
Despite the size of your company, peer-to-peer recognition has a tremendous effect on your business. Some research shows that a peer recognition model is 35.7% more likely to benefit your financial results, even more than manager recognition. Therefore, understand the importance of peer recognition in building team, team, and company's culture.
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