Employee recognition – put people before profits for greater success.

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Companies are in the business to make money. So why would a company even consider putting its people ahead of profitability? Because in our post-recession economy, employee recognition methods that put people first may be the key for future success.

 
The emergence of social media, an increasing need for transparency, and labor market trends are transforming the global marketplace into a people-centered economy and giving rise to a new concept called “Employee Enrichment.” These are the findings according to a new study entitled Leadership and the Performance of People in Organizations: Enriching Employees and Connecting People¹."

Employee enrichment is a strategic approach that genuinely emphasizes the quality of people’s lives with a “people-first” orientation that extends far beyond the typical work/life balance.
Very simply, the concept is that the better a person’s well-being, the better that person performs. So if a company takes care of its people first, its people in turn will take care of the profits.

Move over employee engagement
Over the past few years, employee engagement has been the hot button with techniques such as special training, career development and employee incentives often yielding impressive and measurable results. But that was fundamentally driven by a profit-first approach – companies wanted employees to be engaged so they would perform better.
Now visionary leaders are adopting the new mantra of employee enrichment as they recognize that today’s workers are looking for more than money and advancement in their careers.

More powerful perks for employee recognition
Smart companies are moving to an employee enrichment model by taking a more proactive interest in their people and fostering personal growth through education support, training programs, physical and mental wellness efforts, rewards and incentive programs.

According to the most recent selection of Fortune magazine’s Best Companies to Work For (CNN Money.com, downloaded 1/21/10), some new perks that work include things such as a fully staffed on-site medical center, a free fitness center and natatorium, corporate artists in residence, an on-site farmers market, healthy living incentives, concierge services and paid sabbaticals along with the more common techniques like generous retirement investment matches, etc.

The ability to attract, retain and motivate high-performers will become increasingly important for today’s companies. Managers that put their people first and reward them in ways that truly enrich their lives will be more likely to keep profits in the picture.
 
Written by Leslee Vivian
Leslee Vivian is a professional writer specializing in employee recognition and blogs for Power2Motivate®, the On-Demand service that helps companies recognize, motivate, train and reward their employees.                                                                            
¹ Study by The Forum for People Performance Management and Measurement, “Leadership and the Performance of People in Organizations: Enriching Employees and Connecting People” (Won-joo Yun and Frank Mulhern, Nov. 2009).