3 Ways Employee Recognition Can Reduce Employee Turnover
A new report from SHRM and Globoforce shows that employee turnover has usurped employee recognition as employers’ number one personnel concern. The job market currently favors employees, with more openings than workers, so employers have to get creative to keep their people happy and in their jobs. The survey also revealed that 68% of employers who run a value-based employee recognition program saw an improvement in employee retention. Here are three specific ways employee recognition reduces employee turnover and maintains (or increases!) employee happiness and satisfaction.
Create Employee Loyalty: What Do They Want?
It's often a conundrum for most employers to create employee loyalty within their company. Figuring out how to motivate employees, keep them happy and prevent them for looking for other employment is a major concern, especially given the diverse interest and priorities between Baby Boomers and Millennials. Where do you start? What would the budget look like, if there even is one? Maybe this will help. Towergate Insurance performed a recent study and created an infographic to try to answer the question,
Employee Recognition Programs Reflect Company Values
In today's workforce, employee recognition is more than just a "nice to have"—it’s a critical driver for retention, engagement, and embodying company culture. As companies grapple with rising turnover and a more competitive talent market, recognition programs are essential in communicating core values while maintaining employee satisfaction. Modern organizations have come to realize that a well-executed recognition program goes beyond sporadic rewards and speaks directly to the heart of a company’s mission.
3 Tips for Gamification in the Workplace
As HR departments struggle to figure out how to motivate employees, integrating gamification in the workplace remains a popular option. Fast Company article, What the Future of Gamification in the Workplace Looks Like, discusses the importance of realizing that simple, one-size-fits-all solutions will not work.
Time for Employee Recognition
According to Incentive Magazine, the number one reason employers and managers give for not practicing employee recognition is time. They don't have time, they can't find the right time, it's not effective if you do it too much or too little. There are a million reasons. But the reality is, employee recognition shouldn't take a lot of time, and with some planning and scheduling employee recognition can extend the time employees remain loyal to their organization.
1). Timely Employee Recognition- If an employee does something worth recognizing, make sure you execute on employee recognition in a timely manner. If you wait too long the recognition becomes stale and ineffective. Ensure ROI and trophy value for rewards by recognizing employees as soon as possible.
2). Doesn't Need to Take A Lot of Time- There's a misconception in the market that employee recognition is time consuming. However, if you have a regular recognition program, and rewards on site, recognition only needs to take a few minutes. Whether it's public or private employee recognition, it doesn't need to be a time suck.
3). Deliberate Frequency- Make employee recognition programmatic. That way employee expectations around recognition and rewards are set and can be met and/or exceeded. From a time perspective, deliberate recognition builds recognition into your calendar, rather than being disruptive. Making time for employee recognition will ensure ROI into any program that is approved and endorsed by management.
