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Think about the best job you ever had, probably one of the reasons why you loved it was because of the relationships you had with your peers. You spend an extraordinary amount of time with your coworkers, and knowing that they appreciate and respect you has a direct influence on your motivation.
While most companies encourage manager and leadership feedback, they neglect the power of peer-to-peer recognition. Not only does peer recognition boost team morale and enhance engagement, it also increases productivity, improves customer service, and decreases absenteeism. These all ultimately have a dramatic impact on your bottom line.
This blog will explain what peer-to-peer recognition is, how it can benefit your company, and give suggestions and best practices for creating a culture of recognition.
WHY IS PEER-TO-PEER RECOGNITION SO IMPORTANT?
In a Harvard Business Review interview, Whole Foods Market co-founder and co-CEO John Mackey put words to what most of us instinctively know:
"Happy team members result in happy customers. Happy customers do more business with you. They become advocates for your enterprise, which results in happy investors. That is a win, win, win, win strategy."
While there's been an increasing emphasis on employer-to-employee recognition in recent years, less has been said about the value of employees saying "thanks" to each other.
But peer-to-peer recognition matters in ways that top-down recognition never could. According to an SHRM report, 41% of companies that use peer-to-peer recognition have seen positive increases in customer satisfaction.
When your employees are actively uplifting each other, they're actively uplifting your customers, too. Maybe that's why companies who spend a minimum of 1% of payroll on recognition are 79% more likely to have better financial results.
AWESOMELY UNIQUE APPROACHES PEER-TO-PEER RECOGNITION
1. Typeform
Keeping Recognition Spontaneous
Make it simple the "TypeForm" way!
In one of our favorite examples of peer-to-peer recognition, software company Typeform has what they call a "Spontaneous Applause clause". Employees are invited to start literally applauding an individual team member for a job well done. And because the whole company has embraced the quirky approach, once one person starts clapping, the whole office joins in.
2. Zappos Dollars
Zappos is famous for being an epically awesome place to work and, as you'd expected, they have a set peer-to-peer recognition program in place. At Zappos, every employee can give a $50 reward to any other employee for a job well done.
Nhà bán lẻ giày và quần áo trực tuyến của Mỹ
3. Jetblue
JetBlue started their peer recognition program, “Lift” . Employees and team leaders can access the company's recognition platform via mobile, desktop, or tablet to call out each other's awesomeness — both for everyday tasks, as well as big, juicy game-changing acts. The stories are then shared throughout the company.
It seems to be a pretty productive approach — Lift has increased recognition satisfaction at Jetblue by 88%! JetBlue data also revealed that for every 10% increase in people who reported being recognized, the airline saw a 3% increase in retention and a 2% increase in engagement.
4. Suntory Pepsico Vietnam Beverage - SPVB Kudos by EveHR
Suntory Pepsico Vietnam Beverage that currently employs more than 4000 employees in Vietnam uses peer to peer recognition application "SPVB Kudos" that the SPVB HR Team has worked closely with EveHR to develop.
SPVB Kudos gives employees the flexibility in rewarding their colleagues anytime and anywhere on both mobile app and web. Employees can also redeem gifts from over hundreds of top brands across the country, as well as SPVB in-house branded gifts. An advanced and easy-to-use technical platform, SPVB Kudos platform played the key role in shaping SPVB's recognition culture, building a meaningful and timely reward culture, meanwhile enhance working experience to all SPVB employees
During Covid-19 period, an online engagement platform was designed to help you know how to say “thank you” effectively and the ways to encourage your team is the key to maintaining a happy, healthy and productive team.
About EveHR
EveHR is an online platform that helps companies to boost employee engagement & motivation. EveHR aims to become a leading Employee Experience - Engagement - Rewards & Benefits platform.
EveHR - a member of Fram^ Group – IT development company listed on the NASDAQ stock exchange.
Website: https://www.evehr.vn | Phone: (028) 3829 9715 | Email: help@evehr.vn
