Awarding Staff = Retaining Staff
Recognising and rewarding employee input within your business can benefit the company as much as ensure you are staff are happy and want to remain in your employ yet in a recent American staff survey they found that companies are failing to ensure staff happiness. Only 42% of respondents were happy with the rewards and recognition that their companies offered. That leaves a staggering 58% of employees unhappy at work.
Of staff participating in the survey 67% said that being happy at work directly related to their overall happiness in life. It’s no secret that a happy workplace will help retain more staff and to achieve this is actually easier that you might think.
When asked staff gave the following oppotunities when they would appreciate recognition or reward:
82% For exceeding personal performance levels.
79% For receiving a promotion.
77% For exceeding team performance levels
69% For achieving a milestone in years of service
Recognition and rewards at work can help align your staff happiness and goals with the goals of the company. Out of those surveyed the following would appeal.
Basic employee recognition (50%)
Cash bonus (55%)
Spot rewards (48%)
Wellness incentives (47%)
In our next blogs we will look at ideas on how to implement awards at rewards in the workplace.
For more reading on the happiness survey please go to:
http://www.multivu.com/players/English/7539651-blackhawk-engagement-solutions-survey/
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