Do your employees need your recognition? Only if you want them to stick around.
Employees who feel valued are more likely to remain committed to their organization, which translates to lower turnover rates and a stable, healthier work environment.
A 2024 study by Gallup and Workhuman showed that companies with higher employee retention rates often adopt a culture of meaningful employee recognition.
In fact, the study revealed that employees who receive specific, and personal acknowledgment for their work are 45% less likely to leave their jobs.
Recognition and Retention
Recognition is a fundamental human need for appreciation and belonging. Employee recognition helps your team feel that their contributions are valued, which enhances employees’ sense of purpose and connection to an organization.
Here are a few specific ways recognition can transform your office, according to the Gallup/Workhuman study:
Building Community and Reducing Loneliness
Recognition fosters a sense of community among employees.
Mitigating Stress and Burnout
Recognition is an antidote to stress. Employees who feel acknowledged report lower levels of stress and burnout.
True, recognition can’t change the inevitable demands that come with a job. It can, however, offer a new purpose and perspective that makes challenges feel more manageable.
Driving Professional Development
Meaningful feedback fuels professional growth. Employees who receive recognition are more motivated to develop their skills and advance within the organization.
The Platinum Rule
The research also revealed that employees want more than a simple acknowledgment for the tasks they complete– they want to be praised for who they are and what they contribute.
But this type of recognition must go a step further to what I call The Platinum Rule.
The Platinum Rule
It’s a good mantra to be sure: “Treat others the way you wish to be treated.”
The problem with the “Golden Rule” is that it’s YOU-centric.
Treating your employees the way you want to be treated misses the mark completely. What works for you might be completely uncomfortable for them and have an adverse effect in the long run.
That’s why I’ve adopted the Platinum Rule: "Treat others the way they want to be treated."
Recognition is a powerful motivator, but it’s not one-size-fits-all. For some team members, public praise in a meeting feels amazing. For others, it’s their worst nightmare. They’d much rather receive a quiet "thank you" during a one-on-one conversation. Some employees thrive on frequent acknowledgment, while others prefer a rare but meaningful gesture.
The Platinum Rule is about knowing your team members at their core. It’s about understanding their individual preferences, especially when it comes to recognition.
Put another way, the Platinum Rule is empathy and understanding for a diverse, multi-generational workplace.
Go Platinum
So, how do you implement the Platinum Rule? It starts with asking questions:
How do you prefer to be recognized?
How often?
Listen carefully and adapt your approach. Then, when it’s time to give recognition, praise must be:
Timely: Acknowledge achievements promptly to reinforce positive behaviors.
Specific: Clearly articulate what behavior or accomplishment is being recognized.
Authentic: Recognition should be sincere and reflect genuine appreciation.
Inclusive: Encourage recognition from all levels, including peer-to-peer acknowledgment.
Aligned with company values: Recognize behaviors that exemplify organizational values to reinforce the culture you want.
A generic "great job" doesn’t carry the same weight as saying, "I really appreciated the way you handled that client call with patience and professionalism."
Respect and Trust
The Platinum Rule fosters trust, respect, and a deeper connection with your team.
By treating your team members the way they want to be treated, you create a culture where everyone feels valued in their own unique way.
It’s a small but powerful shift that can transform your workplace dynamic—and the results speak for themselves.
Make the Platinum Rule your new standard for leadership. Your team will thank you for it.
Ready to take your team to the next level? Book a free consultation with me today to identify the issues your organization faces, clarify your needs, and discuss tailored training opportunities to effectively address those challenges.
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