Recognition is a Key Component of Retaining Top-Notch Employees
Clients often ask what they can do to retain their top-notch employees. The answer to this question lies within that organization. As a manager or business owner, you need to know what motivates your employees. Many times your first inclination is to give them a raise in order to entice them to stay working for you. This is often only a temporary fix. We have found, in speaking to hundreds of employees over the years, that they need to feel appreciated and recognized in the workplace.
Each employee likes to be recognized in a different way, therefore, one recognition strategy may not be the best for all employees in your organization. What motivates your employees? Maybe public recognition is what some of them seek, while others would be demotivated by that. It is important to have these conversations with your employees so that you can recognize them in a way that makes them feel appreciated. Studies show that being recognized and appreciated at work retains top-notch employees far longer than giving them a raise.
Sometimes giving employees the appreciation and recognition they crave will not only retain them long-term but may also increase their performance. After all, don’t most people love doing things for people who seem to really appreciate it?
Inexpensive Can Still Be Effective
Recognition doesn’t have to be expensive or formal for you to show your appreciation for your employees’ hard work. Here are a few great ideas that are low cost and creative:
• Tickets to a sporting event
• Day off from work
• Send employees birthday cards/gifts
• Mall gift card
• Movie passes
• Treat them to lunch
• Restaurant gift certificates
• Flexible work schedule
• Favorite dessert
• Favorite book or candy
• Delta Sonic car wash passes
• A “thank-you” for a job well done