If you are recruiting, you no doubt will have identified that at the moment it is a tough market and potential candidates seem to be staying where they are!
So, what can you do differently to retain your employees?
Have you considered looking at Employee Recognition within your organisation?
As the competition for talent increases, how a business values their employees are more important than ever. Creating recognition as part of your values or refreshing existing ones is a great first step however it’s not all about the one-off rewards, it is about ensuring you continuously ensure your employees feel recognised and your values are affective.
What is employee recognition?
The most successful businesses have evidence that the more they recognise their employees the better they perform.
Employee recognition is a method of support that helps employees know their contributions, service and work is recognised and appreciated. It is one of the most important factors in driving workplace engagement, productivity, and employee retention.
Why does employee recognition matters?
Recognising employees has proven to:-
- increase the productivity of employees
- stabilise the workforce
- improve the culture
- bring trust between employee and their manager
- lower stress and absence rates
- improve performance
What Does Recognition Look Like?
There is no set-in-stone answer, it can look different in every business and its about what works for you and the culture within your organisation, but here are some points to consider;
- Being specific and relevant about what you are recognising helps employees know what they have done to be recognised.
- Ensure the recognition is delivered in a timely manner, recognising someone months after is not as meaningful as being recognised promptly.
- Be consistent with the delivery, there is nothing more demotivating than an employee not being recognised for an achievement when another employee has.
- Little things can go a long way, recognition does not always need to be for major achievements, it can be small efforts that are thanked can motivate the employee.
- Ensure you shape your employee recognition plans to what you want from your long-term business goals.
If you need help or support looking at employee recognition within your business, contact the HRX today.