What comes to mind when you think of employee recognition?
It’s probably some form of top-down recognition—a manager or executive applauding or rewarding someone below them in the office hierarchy. And that’s OK! It’s certainly a good feeling to be recognized by higher ups.
But what about recognition from peers—the team members who understand the late nights, hard work, and thorough communication that went into a certain project? While a supervisor or manager definitely understands this perspective, it’s a bit different from being with them, side-by-side, on the front lines.
Peer-to-peer recognition is powerful—it’s nearly 36% more likely to have a positive impact on financial results than manager-only recognition
A shout-out from the CEO feels fantastic—but meaningful appreciation and recognition from team members is what really drives an employee’s commitment and engagement with a company’s goals.
What is peer recognition?
Let’s get started with the basics—since peer recognition isn’t often given the same amount of discussion as other forms of recognition!
Peer recognition is when employees are empowered to express appreciation for their coworkers, including their peers, managers, and direct reports. That can mean a shoutout at a team meeting from one team member to another, or a team platform to allow you to thank a colleague for their help on a project with a tight deadline, or space on your internal social media for peers to show gratitude to each other.
The Society for Human Resource Management (SHRM) notes that peer-to-peer recognition programs are the third most-common recognition programs for employers.
It’s a simple concept, right? And it can take many of the same forms as your more traditional recognition programs, whether they’re informal or formal. Recognition as a concept is showing people that you see their hard work and thanking them for it. Peer recognition is just that gratitude coming from a different direction—every direction, in fact! Read more here…
Source: Bonusly Blog