Erik Osland created EvolvedMD because of personal experiences with his father and the medical system. EvolvedMD is radically changing the people who...
Celebrating Success: Why Leaders Must Create a Culture of Recognition
Is saying “thank you” or “great job” a lost art?
Employees want to be recognized and appreciated for their hard work. However, a 2022 Gallup/Workhuman report revealed that 81% of leaders say recognition is not a major strategic priority for their organization. If leadership and management teams don’t take intentional time to recognize a job well done, it can result in burnout, turnover, and therefore lost revenue.
At evolvedMD, appreciation and recognition are pillars of our people-centric culture. Committed to supporting our employees’ personal and professional growth, no win is too big or too small to celebrate – their success is our success, and we want to celebrate with them.
Following a productive and impactful Q2, we asked our employees to share their proudest accomplishments with us. Watch the video below for the full roundup:
Key Benefits of Recognizing Employees
If you’re a leader or a manager at a fast-growing startup, there are many positives to celebrating your people’s success:
- Reduces Burnout and Improves Well-Being – Burnout results in increased disengagement and absenteeism, costing employers $17 to $44 billion dollars Recognizing a job well done will reduce burnout and promote positive psychological functioning.
- Improves Engagement and Boosts Productivity – Recognition creates loyal employees. When employees are loyal to their employers, they are more willing to invest in producing quality work.
- Improves Engagement – Research shows that employees who feel recognized are seven times more likely to be highly engaged and feel confident about their work.
- Reduces Turnover and Improves Retention – Companies that prioritize employee recognition experience 31% less voluntary turnover.
Recognition and appreciation shouldn’t just be regular habits; they must be engrained in your culture and rooted in authenticity. We hope watching our video and understanding the key benefits of recognizing employees will inspire you to take more intentional time to celebrate success in your organization.