Why Peer Recognition Must Be Your New Year’s Resolution

Why Peer Recognition Must Be Your New Year's Resolution

Before we kickstart this blog, let’s take a moment and let it sink in.

We’re already in 2023! 

Yes! To put that in perspective, it’s been 3 whole years since the new decade began, 3 years since we first heard of COVID, and 3 long years since the world had to adapt to the new normal. 

But the silver lining is the very fact that we made it. Humanity persevered in working out of a tough fight. Now organizations and businesses of all kinds have found the path to recovery and are cruising on the highway to success. 

Now perhaps is the time to ask yourself the following questions:

“Is my organization really cruising on the highway to success?” 

“Are we witnessing growth as expected?”

“Are my employees driven towards the organization’s ultimate goal?”

If the answers to the above question are “yes,” then congratulations, you’re doing things right, and we’re sure you made peer recognition a resolution in the years gone by. However, those who answer any of the above questions with a “no” must realize that it is 2023, and organizations must make it their primary agenda to promote peer recognition amongst employees, irrespective of the fact that the employees may be working on-site or remotely. In fact, peer recognition is needed more than ever in the latter’s case. 

For those wondering why we have an answer for you.

Peer recognition is the most cost-efficient and effective way to create a productive workplace. Furthermore, when aided by technology, peer recognition becomes simpler, empowering individuals to extract the best from themselves and their peers by increasing overall engagement in an increasingly digitally connected yet emotionally distant world. Through the points listed below, we ponder upon a few more reasons that will compel you to add peer recognition to your to-do checklist for 2023:

Ethics & Morals: 

Ethics & Morals

Gone are the days when CSR was just tokenism, and corporations could get away with it. The digitally connected world demands accountability, and if your organization is not ethically and morally sound, the damage to your business could be irreparable. While instilling ethics and morals isn’t something that happens overnight, using peer recognition as a platform to build a solid foundation can help unlock the true potential of your employees. 

Using peer recognition, employees will develop a sense of responsibility and follow the right practices to achieve their goals. The larger picture will reveal how the perception of your entire organization changes gradually with such small yet significant initiatives.

Work Environment:

Work Environment

Many of you reading this blog may well claim that your organization has a positive work environment, but management teams often cannot see what lies beneath the surface. Employees that do not recognize each other publicly or give credit where it is due tend to develop a survival instinct in the corporate world. Their insecurities get the better of them, and every single task boils down to showmanship and a tussle to take undue credit. Such tendencies lead to an overly competitive environment that is never conducive to productivity and efficiency.

Future of Workplaces:

Future of Workplaces

COVID redefined the way we work, and as mentioned above, all sorts of work models are being implemented. Employees are working from offices, homes, cafés, and pretty much everywhere. With hybrid and remote work models now taking precedence, there is a need for a peer recognition program in every workplace. Consider this to be the new-age equivalent of congratulatory cards and pats on the back. 

While in reality, peer recognition has a much greater sense & purpose, the workplaces of the future are bound to be a lot different. With employees from different geographical regions, cultures, and values working together towards one common goal, there is an undeniable need for a recognition tool that simplifies rewarding peers and makes recognizing good work seamless and quick. 

Talent Retention:

Talent Retention

2023 brings a new dawn for employees across the globe. Having navigated themselves through the complex waters of changing times, employees are now looking to make the next big move. They are eager to grow, hungry to succeed, and they’re going to stop at nothing. In such times, taking your employees for granted may not be the best strategy. Talented employees at your organization may be well taken care of, and we don’t doubt that for a second! You might be providing them the best of everything, from a luxurious workplace to numerous benefits and perks and even sizable remunerations, but is it all enough to retain talent successfully?

While initially, employees are overwhelmed with such perks but considering the fact that we live in a time where the younger generations are focussed on holistic well-being, there is a good chance that your talent may look for something beyond the materialistic benefits. Every individual looks for recognition, they wish to receive credit for their work, and they aspire to be assessed fairly at the end of each year for their performance without worrying about petty politics at the workplace. Using a good peer recognition program can help your workplace deliver on this. Once employees are convinced that the entire process of appraisal is transparent and data-backed, they will be motivated to continue being a part of the organization and inspire fresh talent to join.

Data-Driven Growth:

Data-Driven Growth

Every employee has their own growth curve. Assessing the impact they have on your organization is key. Furthermore, using each employee’s strengths to yield desirable results requires reliable data. You can access a comprehensive dashboard using a peer recognition tool like PeerFives. Here you can view the interactions between your employees, the recognition they receive, and the core values they exhibit while successfully completing their tasks.

Upon carefully examining the data, you will be able to determine how best to use your employees, which teams they perfectly fit in, how efficient they are, and whether or not they are capable enough to deliver high-profile projects your organization may be working on. Using your workforce efficiently and effectively will boost growth and help your organization save some serious dough!

In conclusion, we can most certainly believe that the effectiveness of peer recognition programs is multi-dimensional, and the best way to understand this is to experience it. So why wait? There’s no better time than the new year to get started, and to make the deal sweeter for your organization, PeerFives is now offering a FREE 30-day trial.

Keep Recognizing, Rewarding, and Spreading Smiles.