Why Recognizing and Retaining Talent Go Hand in Hand
Looking for a surefire way to keep your top performers engaged and satisfied, and working for your organization? One of the best strategies also aligns with doing what’s right: recognizing the good work of your employees.
Companies that demonstrate they appreciate the efforts of their workforce stand a much better chance of retaining them over the long term. There are lots of ways to do that – and it might even vary from employee to employee – but the bottom line is that professionals have lots of options these days, and they want to work in environments where they feel valued.
Where does your company fall on the appreciation scale?
You can find almost anything online these days, and that includes the approaches companies are taking to recognize their employees. Consider two videos that recently went viral, but for very different reasons.
In one, a fast-food worker was honored for his 27th work anniversary – 27 years working day in, day out at the very same establishment. What did he receive? Some pens, a movie ticket, candy, and a reusable cup. Not exactly a haul for the loyalty shown over nearly three decades, particularly in an industry known for high turnover.
The second video provided a sharp contrast. An office worker was celebrating her 20th work anniversary, and the owner made the occasion memorable, and then some. He gathered the entire staff, said some nice words about his longtime employee, and then proceeded to count out 20 stacks of bills, each worth – ready for it? -- $1,000. That’s a $20,000 bonus, paid in cash, in front of the entire office, to acknowledge her contributions.
Certainly, not every organization can afford to give that type of financial recognition to its employees. But that’s not really the point. It’s that the owner went out of his way to show that employee how much he appreciated and valued her work, and in the process, let the staff know that hard work and loyalty would be rewarded.
Employee recognition done right
Employers should keep in mind that it’s not necessarily the size of the recognition that matters most. Often times, it’s more about what you say and how you say it. For instance, marking major milestones – a 1-, 5- 10- or 20-year anniversary – is great. Just as important is a consistent “thank you” or “great job” for exceptional work. The more that employees hear positive reinforcement for a job well done, the more motivated they are to keep delivering.
If you are considering financial rewards, they can also be simple and still be welcome. Gift cards, restaurant certificates, gas cards, car washes, the list goes on and on. The point is there are plenty of ways to recognize and reward employees without breaking the bank.
The world of work has changed. Employees want more than a job and a paycheck; they want to feel appreciated and valued. Is it time to step up your organization’s employee recognition program? The experts at Alaant can get you on the right track. Contact us today and let’s get the conversation started!
Miriam Dushane, Managing Partner
Miriam is all in when it comes to doing whatever she can to help the Capital District grow and thrive. She is passionate about helping talented professionals find the right job and her work in the community is focused on furthering our area as a center of economic vitality. Miriam likes to garden and care for her pets. She is a member of an adult-only skate group where she rollerblades every week. She loves the Mets! And she is obsessed with vacuum cleaners; she really likes to vacuum and has 6 right now.