It is critical, particularly during challenging economic times, that business owners recognize their employees for all their hard work. If you can reaffirm and re-enforce your team members’ value and contribution while your organization is coping with the global downturn, you stand a better chance of retaining your best people when the economy turns around and opportunities to leave become plentiful.
When we think of employee recognition, most may think of praise and financial rewards. However, it will require a holistic and integrated approach to ensure that members of your team know their importance to your continued success. Nearly everything we do as business owners in the workplace either contributes to or takes away from how recognized and appreciated our employees feel. If you, as the owner and leader of the organization, go into work feeling and acting as if you are a victim of the down economy, your team will follow your lead and adopt a helpless attitude and blame external factors for lack of growth and sales.
Employee recognition can be used strategically by employers to reward good behaviour and keep team members “present” and accountable for favourable results. It builds and reinforces the belief that they work for a company that cares and it reminds them to look for solutions (as opposed to focusing on problems or what is not working in the business).
But all employee recognition is not created equal. Almost all businesses use varying combinations of intrinsic recognition – health-care benefits, flexible work hours, time-in-lieu for volunteer activities, training opportunities and annual awards.
But recent studies (surveying thousands of workers across Australia) have clearly shown that the cornerstone of meaningful employee recognition is actually “opportunity”. An award may be a tangible, formal sign of recognition, but employees view opportunity as the primary indicator that their manager values them.
Opportunities don’t have to be expensive to be effective. You can provide the chance for a team member to better themselves by doing something as simple as trusting them with VIP customers or introducing them to a key figure inside or outside of the organization. It’s also been proven that employees find recognition more inherently valuable when it’s administered individually (i.e. in private) rather than in public.
The business owner or manager is the essential component when it comes to effectively recognizing valuable team members. Companies should employ the 80-20 rule-keeping in mind that team members respond best to a blend of diverse mix of employee recognition. Only a small percentage (20%) of an employee’s overall recognition can come from peers and financial means before it loses its effect. The remaining 80% should come from the business (i.e. intrinsic recognition) and direct praise must always come from the manager, and be delivered in private, in order to maximize the impact.
When you consider it from the perspective of the employee, it makes perfect sense. The manager or business owner ultimately decides who gets hired, who gets fired and who gets promoted. Timely approval and recognition from the owner or manager is the best way for an employee to judge his/her progress and stay accountable by focusing on targets and solutions. Opportunity is in fact the #1 motivator – and it often won’t cost the business a cent, which is great news in challenging times like these.
Many different factors have the potential to cause stress in a person’s life. If you take a look around you will see that some people have learned to manage and control their levels of stress much better than others. Even though there is no 1 specific key or “secret” to managing stress, the answer lies in learning to balance of a combination of little things and your physiology.
High levels of stress can lead to various medical conditions, negatively impact your daily routine and impair your ability learn and recall. The hormones which the brain releases in stressful situations are meant for fight or flight situations only – over use of these can actually be detrimental to the health of your brain and body.
Work (whether you own your own business or not) is filled with challenges, obstacles and opportunities that have the potential to cause stress. Knowing how this impacts you physically is the first step leading you to new insights and understandings on how to manage and control your reactions in an empowering way.
Your body language is a powerful indication of your ability to handle stress and problems. When your body encounters a stressful situation, hormones are automatically released into your adrenal glands to counterbalance the cortisol in your brain. Equilibrium is established when these stimulating and tranquilizing forces become equal. When one is greater than the other, you will experience a sense of imbalance, commonly referred to as stress.
In fact, your body goes to great lengths to prevent you from experiencing imbalance or stress. Your sympathetic nervous system and parasympathetic nervous system essentially battle each other to bring your body back to equilibrium. This fight or flight response to stress also necessitates the shutting down of many of the other key systems in the body – which makes it much more difficult to reason, react and communicate while in this agitated state.
It is next to impossible to eliminate stress completely from your life. Some stress is actually good for us. However, learning how to quickly and reliably relieve stress and become focused will enable you to tackle challenges with a clear head, communicate clearly and navigate tense situations. In fact, the best way to reduce stress quickly and reliably is through managing the sensory input received by the body: through sight, sound, smell, taste, and touch. Each person responds differently to various levels and types of sensory input – the trick is to find out what works best for you.
We all have different preferences, tolerances and needs. For example, certain kinds of music or distinctive smells may relax one person but irritate another. Take the time to discover what works best for you at home, in your car, at the office, or wherever you may encounter stress. Simple deep breathing and relaxation techniques also work wonders and they are free, easy to implement and produce quick results.
Harnessing the power of sensory stress-busting techniques will provide you with a powerful technique for staying calm, collected and in control. You’ll have the assurance to face adversity and challenge in every aspect of your life, knowing that you have the ability to bring your body back into a state of equilibrium and ease.
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