It is a proven fact that satisfied employees are one of the best assets for the organization and appreciating the employees in real time can really boost their confidence with the organization thereby improving the retention rate. Real-time employee recognition certainly has some benefits for the organizations and that is why it is being followed by the company HR in almost all the companies:
· Removes Recency Bias
Fear of bias in the minds of employees is the biggest threat to any organization. If the organization adopts the policy for appraising their employees in the real time, the risk for the same can be reduced four folds. The organizations using the point-based software can easily track the accomplishments of every employee throughout the year and recognize their efforts in real time.
While analyzing the performance for an employee, the organization must make sure that a recent failure or a performance not up to the expectations should certainly not considered as a factor that becomes a hurdle in the review cycle.
· Increases Utility of Competencies
Real-time recognition also helps the management in recognizing the inherent values among the employees. The employees carrying values such as leadership, teamwork, risk management etc. which are required to progress in any business organization should be appreciated. This also instills a feeling of competitiveness amongst the employees. Recognition of these soft skills along with the required technical skills also leads to the development of an employee both as an individual and also as a team member.
· Drives Goal Progress
Regular real-time recognition of the employees by managers also helps the employees in realizing their development in regards to the individual goals. Proper feedback at regular intervals helps such employees to keep a record of their progress and also their direction when aiming for personal goals.
· Motivates the Employees
Real-time recognition is the best way to appreciate the talent and efforts of stellar employees. Such on the spot recognition reinforces strong performances among the employees.
When it comes to real-time recognition, there is nothing better than it. It works as an instant mood booster for the employees and has mostly bought profits to organizations in every possible way.