The simple answer: Points-based employee reward systems have been consistently proven to WORK!
Research has proven that companies giving regular thanks and recognition to their employees far outperform those that do not.
Plus, higher performing companies actually had almost 30% lower voluntary employee turnover rates.
If regular and frequent recognition is so successful, why aren't more companies doing it?
Discover key principles that can revolutionize your employees' performance and drive success in your organization. It all begins with understanding that employees and management may have preconceived views about your company. Views that are misaligned and negatively affecting their performance. Once understood, changing those perspectives lays the foundation for unprecedented success.
As we approach the end of the year, many companies are considering ways to show gratitude and appreciation to their hardworking employees.
One fantastic way to achieve this is by giving end-of-year holiday gifts. Let's look into the value and benefits that companies can achieve by embracing this wonderful tradition.
First and foremost, holiday gifts are a powerful tool for boosting employee morale. When employees receive a thoughtful gift from their company, it shows that their hard work and dedication are recognized and valued. This simple act of appreciation can go a long way in motivating employees to continue giving their best effort.
Employee retention is a continual challenge, and must be an ongoing management priority in order to build and keep an amazing staff.
Low retention rates affect your bottom line, and we have employee retention ideas to help that. The costs of employee turnover can be 1.5 to 2 times the salary of an employee. Also, consider the lost productivity and the impact of lower morale when good people leave.
Because of the financial impact, it makes good business sense to try to improve employee retention rates.
Here's 10 employee retention tips to help keep your best people:
Get the huge benefits of recognizing your employees as they reach service anniversaries. These special occasions are perfect opportunities to acknowledge employee's loyalty, dedication and significant achievements throughout their years of service.
This article provides tips and ideas for this important recognition program, and how you can easily show your appreciation with service awards.
The most powerful and cost effective way to recognize employee service is through a formal Employee Service Award Program.
A simple Thank You can speak volumes to your employees
Some time ago, at the beginning of my career as a mortgage banker, I had the pleasure of assisting a young couple with the purchase of their very first home. Shortly after they moved in, I received a gift basket of assorted chocolates as a thank you.
I thought that this was the sweetest gesture, ever (pun intended). It wasn’t so much the basket of sweets that I enjoyed but the hand-written note which accompanied those foil-wrapped delights.
