How many new employees have you hired this year? What are you doing to make sure they stay?
Given that almost one in four employees will quit within a year, it’s an important question for employers to consider....
So why are they leaving?
Sometimes they might be moving cities for a new position, giving up paid work to look after their children, or going back to full-time study. Most of the time the reasons people quit can be fixed by their employer - and many of them boil down to recognition.
Acknowledging the good work your staff put in doesn’t have to mean throwing extravagant gifts and prizes every which way. Sometimes, it’s as simple as saying ‘thank you’ when you see someone going above and beyond. In a study about the causes of great employee performance, 37 per cent of people said that more personal recognition from their boss would encourage them to do better work more often.
It’s creating a culture of recognition that’s the real motivator. In an organisation where employees know that good work is recognised, they’re more likely to feel engaged, and that what they do is valued and has purpose. Engaged employees who know their work is appreciated and helpful to other people in the organisation? Those are the ones who stay.
3 tips to make recognition part of your company’s day-to-day operation
1. Act now, not later
If you’re going to recognise, do it ASAP, and make sure your employees know exactly what they’re being recognised for. When you wait to do it monthly or quarterly (or even annually!) you run the risk of the ‘thank you’ being disconnected from the achievement or behavior. As humans, we like instant gratification for a job well done. Plus, it serves as motivation to do the same (or better) the next day, boosting productivity.
2. Personalise your rewards
Make a fuss of the things that deserve it, such as long service or outstanding ongoing performance. When an employee reaches a big milestone or has a significant achievement, show you understand its significance with a tangible, personalised reward. Consider skipping the monetary gift, which tends to be forgotten and thought of as wages, and opt for something that shows you’ve been to some effort, like tickets to an event you know they’ll enjoy.
3. Recognize achievement of all shapes and sizes
If you want to make recognition a part of the everyday running of your business, it pays to show you don’t miss the little things. Always say please and thank you – old-school politeness goes a long way, and helps to build that culture of recognition brick by brick. Show your staff you value them with a simple, well-crafted email of appreciation after someone works hard to make a tight deadline or stays back late to help out a client.
Want to put a system in place...
Power2Motivate’s online employee recognition programmes are built and tailored to encourage engagement, recognising the good work and rewarding the excellent in a timely manner. You can even set up your system to give employees the option to choose the rewards they get. Follow the example of type company Goodyear, who set up a virtual ‘store’ where employees could redeem points for the prizes they preferred. You’ve also got the option to gamify the system; think competitions between departments or random games to break up busy days or weeks.
Overhauling the way you recognise good work and behaviour could be the turning point your organisation needs to boost employee engagement and retention.