If your company doesn’t have a sustainable employer brand, you will inevitably have trouble down the line. Branding your business as a quality place to work can be effective in generating interest in new talent, but if you don’t back up your promises in the workplace, your current associates will leave for greener pastures.
In the United States, workers are feeling more satisfied than they did six months ago at their current positions. Half of U.S. employees report having been recognized for their on-the-job efforts in the past three months, which is up from 44 percent in the Fall of 2011, according to the Globoforce Workforce Mood Tracker. Additionally, over 80 percent say receiving recognition in the office makes them more satisfied with their jobs and leads them to stay.
Unfortunately, there is still 55 percent of employees who say they’re ready to leave their current positions due to a lack of recognition for their efforts, and as a business owner, you need to make sure your employees don’t fall within this percentile.
Getting the most out of each of your employees is essential for creating a work environment that encourages innovation. When you stunt the creative process of your employees, there is no way you can get the best out of them, and your products and services will suffer.
To become a more receptive and communicative business owner, look for advice in new places. Speak with your employees directly and ask how you can motivate them and help them feel more appreciated in the workplace. While you may not consider employee retention as an integral component to building a successful business, you might want to change your mind quickly, before your skilled associates leave and join the creative departments of your competitors.
What are some ways business owners can create employee recognition programs that really work to improve morale?