Big legal firms. Small tech startups. No matter your company’s size or industry, in today’s competitive and increasingly fluid job market, employee recognition has become an essential tool for helping to attract and retain top talent.
More and more employees are currently seeking new opportunities. CNBC reports that “some 65% of employees are looking for a new job right now, according to an August poll of 1,007 full- and part-time U.S. workers conducted by PwC.”
So, how can you keep your talent? As humans, we have an inherent need to feel appreciated or recognized for our efforts. And studies show that employees who feel appreciated for their work are more likely to stay. An O.C. Tanner survey found that work teams with higher engagement ratings experienced 59% fewer turnovers.
Prioritizing employee recognition is a must for every business—it helps keep employees engaged and motivated, reduces turnover, and boosts team morale and productivity.
Harvard Business Review reports that “the most impactful driver of employee engagement is recognition.”
Even if you already have employee recognition initiatives in place, it’s always wise to seek new ideas. Here are a few to add to your program.
Employee recognition kits.
We’ve had a lot of fun creating these for our team at Shamrock. The great thing about kits is they can be as simple or grand as you like. And just the packaging itself is a delight—who doesn’t love opening a gift?
Hand-written notes or phone calls.
Take the time to acknowledge a job well done or celebrate a milestone with a hand-written note or a personal phone call. Both are rare in today’s digital world. Often, it’s the smallest gesture that makes the biggest impact.
Another Shamrock example. Our employee of the month program gathers nominations from our team about a colleague who lives out our culture in their everyday role. The winning employee is recognized via email (sent to our team nationwide) and social media channels.
Celebrate non-work achievements.
Take an interest in what your employees are doing outside of the office. Whether they’re performing, competing, or heading up a volunteer effort, show your pride and support by promoting their activities and achievements by sharing details internally with your team and on social media.
We all love free stuff—especially when it’s on-trend and practical. Consider seasonal swag drops for your team. On birthdays or anniversaries, allow them to choose the branded swag they want most from a curated selection on an online company e-store. [link to estore blog]
From industry articles and seminars to online classes and conferences, providing your employees with development opportunities is a big perk—and one that doesn’t need to be a major investment. By simply sharing these resources with your team, you’re showing that you’re invested in their personal growth.
A robust employee appreciation effort is the cornerstone of healthy and meaningful workplace culture. Other than those outlined, what ideas have you found that recognize, motivate, and engage your employees? Join the conversation on our Facebook page. I’d love to hear from you.