The benefits of a peer-to-peer recognition program can be long-lasting and reach beyond the achievements of award recipients. They extend to the entire organization and its employees, allowing them to feel valued and make an impact on their peers. Furthermore, employees who their peers have recognized are more likely to continue their job satisfaction in the organization.
Benefits of a peer-to-peer recognition program include:
- Positive Emotions Increase
When employees feel recognized for their work and efforts, it can positively boost emotions. Emotions such as pride, gratitude, and admiration lead to more motivated workers. Research by Psychology Today found that recognition led to feelings of increased productivity and motivated employees to perform better, increase the amount of effort they put into their work, and even be more creative.
Moreover, employees who have been recognized were also more likely to approach their managers when they were not recognized for their work. For example, giving awards such as the Crystal Globe Trophy is an excellent way of identifying the effort employees put into their work.
- Endeavor To Perseverance
Employees who feel like peers appreciate their hard work tend to push through with their objectives. For example, studies showed that people recognized for their efforts are more likely to persevere and surpass their expectations and even reach new heights and achieve more than they would have otherwise done without being recognized by peers.
One of the primary reasons people recognized were more likely to persevere was that they felt rewarded for the effort they put into their work and felt proud of their accomplishments. In addition, when employees feel recognized for their actions, they are also more likely to be more confident and motivated to work hard.
- Relationships Strengthen and Grow
Peer-to-peer recognition programs are not only for employees to feel valued for their hard work but also allow them to reach out to peers and strengthen relationships within an organization. Furthermore, peer recognition can help forge bonds within the organization and is an excellent way of building trust and a feeling of support among colleagues.
Managers who participate in peer-to-peer recognition programs also reported more significant relationships with bright employees than managers who did not participate in the program. Solid relationships and bonds within the organization can go a long way in boosting employee morale and productivity.
- Job Satisfaction Increases
Studies have shown that employees who feel appreciated by their peers are more likely to feel job satisfaction and even have higher self-esteem. In addition, peer-to-peer recognition programs are great ways of rewarding employees for their work while also giving them a sense of value, worth, and motivation to continue working hard towards the organization’s collective goals.
Studies have also shown that employees recognized by their peers are more likely to be an inspiration to other less-impressed employees. Employees who feel acknowledged for their work are also more likely to feel valued and respected by their managers and colleagues. The importance of receiving peer recognition is significant enough to keep staff members from quitting their job, even if they are dissatisfied with the job itself.
- Increases Transparency
A peer-to-peer recognition program can help boost transparency both within and outside the organization. For example, it can create more democratic environments and make employees feel part of a more significant cause. Peer recognition programs are great ways of creating more inclusive workplaces that focus on the value of people in the organization rather than just on their skills and productivity. Research has shown that employees who participate in peer-to-peer recognition programs are more likely to report feeling included within their workgroup.
- Increased Profitability
Research has also shown that peer-to-peer recognition programs can improve productivity and profitability. When employees feel appreciated for their work, they are more likely to put in the extra effort. This can lead to increased profits because the employees who have been recognized are often more productive. Furthermore, they report that they are better at getting along with their coworkers and have higher satisfaction in their jobs.
A peer-to-peer recognition program can help boost employee morale, productivity, and profitability. For example, peer recognition can lead to more motivated employees who are more likely to stay within the organization for longer and even further their careers.