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What kind of turnover do you experience in your company? In the U.S., 71% of workers are disengaged. As millennials enter the workforce, they’re job-hopping. On average, they’re changing jobs every 18 months. How are you going to compete and keep good talent?
There are a lot of statistics out there that say a higher engaged employee will create better profitability. Employees that go to work on time and are productive during the day are going to affect the bottom line.
If you’re interviewing a millennial, you’re going to lose them if you explain your traditional recognition program rewards employees every five years. They’ve already worked for three different companies in that time. They want recognition early and often. Many millennial’s will even ask in the interview process when their first opportunity to be recognized will be.
If a company can say they recognize employees on day one for on-boarding, they will appear more attractive to the interviewee. Rewarding a new hire for selecting your company over the others will speak volumes to that employee and will help in retention efforts.
Companies are doing everything they can to increase the level of engagement from their employees. The number one reason an employee leaves a company is not because of pay, benefits or paid time off, it’s because of their relationship with their direct manager. If an organization can increase engagement from the manager to the employee and create regular touchpoint opportunities then they’ll have a better chance of engagement.
Cash is short-term recognition. As soon as you give someone cash for an accomplishment, they’re not going to remember what they did to deserve it tomorrow. Something tangible does give that sense of accomplishment.
I don’t sell trophies. I really don’t know anything about trophies. I sell employee recognition solutions to companies. Every manager needs help giving their employees the recognition they deserve. How are you recognizing your employees?
For more information on how we can help you recognize your employees, click here or e-mail firstname.lastname@example.org.