“Don’t ask how we can motivate people. That’s the wrong question. Ask how we can provide the conditions within which people can motivate themselves.” — Edward Deci, TEDxFlourCity
It’s part of human nature—the desire to be recognized for our hard work and appreciated for our contributions. Offering recognition also feels great for the individual giving it. It’s a way for your team members to acknowledge one another for going above and beyond; for pitching in and helping out with a particularly difficult client request or wealth management challenge; or for simply making what can be a sometimes stressful work environment more pleasant, collegial, and fun.
Given the increasing importance of and challenges associated with retaining top-tier talent, now’s an opportune time to revisit your firm’s recognition program to seek out ways to strengthen it by establishing a more formal structure. Not only will it help bring out the best in your team, it can also serve to:
Leading Team Recognition Software
15Five High Fives
Quantum Workplace Recognition
Bonusly
Motivosity
Refresh
As the competition for elite talent continues to escalate, how you tangibly demonstrate that yours is an organization that truly values each individual team member, has become more critical than ever.
Encouraging and empowering your team to recognize the contributions of each other creates a powerful culture of appreciation and establishes the framework for a stronger, happier interdependent team who feel connected to one another.
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Sources
1 “The Importance of Employee Recognition: Statistics and Research,” Quantum Workplace, June 2021
2 “Why Do So Many Managers Avoid Giving Praise?,” Harvard Business Review, May 2017