Regain Employee Loyalty Through Action
Employee loyalty is at the lowest rates in recent memory. According to a recent CareerBuilder survey one in three currently employed individuals plans to leave their job by the end of the year. 76% of current employed people would leave their job if the right opportunity presented itself, although they are not actively looking for a new job. Other studies have also shown staggering turn-over rates, showing that the average company loses 20-50% of its workforce each year. These numbers show employees are disconnected to their jobs, and that employers are not showing reciprocal loyalty to their workers. As the recession still continues to affect the economy and the job market employees see down-sized benefits packages, cut backs on organizational spending that was previously invested in professional growth and training opportunities, and a lack of demonstrated commitment to employees. Employee loyalty has declined, because if employees don't feel that their organization has invested in them, they will not invest their longterm professional commitment in the organization. Investing in employees, whether it is giving a small denomination restaurant gift card for a one year anniversary, or ensuring that employees continue learning and growing through professional development training, it is important to show employees that their organization cares about them.
How will you use loyalty rewards to improve your retention rate this year? For more information and ideas on how to show loyalty to your employees check out this Forbes article.
Motivate Employees Their Way
Motivating employees is about ensuring that your employees feel appreciated and supported by the organization. Showing your employees you care is the best way to get them to invest their time and energy into their jobs and make a difference. The most important piece of employee motivation is showing that appreciation and giving rewards in a way that works for the employee you are trying to reach. Quiet, hardworking employees do not want public attention drawn to them, but giving a gift, reward, or praise in a one-on-one atmosphere will show them appreciation and motivate them, rather than make them uncomfortable in front of their peers. To an innovative thinker, knowing a bit more about the "big picture" and how their work affects that makes a big difference. Taking time to provide them some more strategic information, in addition to a reward will go a long way. Analytical employees want to know how their piece fits into the greater puzzle, and want to be compensated based on the size of their piece. Giving them spot rewards, such as a restaurant gift card, for small achievements, and larger bonuses for reaching long-term goals will show this employee organizational appreciation, and motivate them into the future. Tailoring motivation and rewards to how an employee will best recieve the praise is important. If you reward and motivate an employee, but the delivery embarasses them, belittles them, or does not speak to their professional goals or intellecutal style the impact of the reward and motivation could be lost.
For more information on how to motivate effectively check out this Time Magazine article.
How to Create Superstar Employees
When employees are distracted, stressed, or discontent in their personal lives they often bring that negative energy into the work place. Combine outside stress with the general workplace grind and you are bound to have some unhappy employees. They feel disengaged at work, not supported by their organization's management and begin to resent their position, their professional environment, and ultimately try to change their professional situation. The Corporate Leadership Council shows some staggering statistics about recent employee (lack of) organizational engagement. 60 percent of organizations report that they are experiencing a leadership crisis, which is an increase of 40 percent from just a year earlier. Weak leadership often also leads to a restless, dissatisfied workforce. Worse yet, the number of employees that are “highly disengaged” has doubled since early 2008. So how do you combat this negative energy in the workplace? Focus your organization's employee investment dollars on the time employees spend outside of the office. Reward employees' desired behavior with spot rewards such as a gift card to a restaurant employees can enjoy with their family, or create a points system so employees can save their rewards points and redeem for bigger incentives, such as an extra vacation day. According to research done by the Corporate Executive Board employees who feel they have a better work-life balance tend to work 21% harder than those that don’t. So instead of investing in employees work time, invest in employees non-work time, so that when employees are at work they are mentally present, physically present, and just as invested in their job, as their employer is in them.
For more information on creating a positive workplace environment check out this Care2 article.
Building Comprehensive Employee Wellbeing with Gift Card Rewards
As businesses increasingly recognize employee wellbeing as foundational to both employee performance and organizational success, it’s clear that a holistic approach is essential. Gallup’s 2024 report on employee wellbeing highlights the need for companies to address five interconnected elements of wellbeing: career, social, physical, financial, and community. Yet only a small percentage of employees feel their employer supports these elements. This gap can leave employees feeling undervalued, risking burnout, low engagement, and attrition.
