How to Boost Employee Retention with Recognition
An issue on the mind of leaders from the CEO to the front line supervisor is employee retention. Many different factors contribute to increased employee turnover and today's skilled workforce shortage. Employee retention directly impacts customer engagement, sales, company culture, and operating efficiency. Employee turnover is on the rise. More American employees are quitting their jobs than ever since data began being tracked by the US Bureau of Labor Statistics. A survey of 2000 employees in the US and Canada found that 52% of employees have one foot already out the door. It may seem overwhelming knowing where to begin. There is something you can start doing today that will have an immediate positive impact on employee retention. Employee recognition can be a relatively quick, low-cost, and high-impact place for you to start. When starting with recognition, you will also discover many fringe benefits beyond retaining top talent.
Why should you start with employee recognition?
We all have a fundamental need to want to know when we have done a task right. Today, many employees are knowledge workers and do not receive immediate feedback on how they perform