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How to Identify and Retain Top Performers with Rewards and Recognition

Employee retention is a key goal for every company, but it’s important to drill down into this metric and make sure you’re doing a good job of identifying and keeping your top performers. These employees deliver 400 percent more productivity than the average worker, according to statistics published in Harvard Business Review (HBR). The researchers state, “Our workforce strategy goal should be to double down on retention tactics for high performers,” and further explain that, in many cases, managers aren’t meeting the needs of their top talent. The first step to nurturing your best workers is to make sure you know who they are; and a simple way to discover top performers is through rewards and recognition programs.

Look for active recognizers

The right rewards and recognition program can help determine top performers – but you may be surprised by which statistics you should look at. As to be expected, the hardest working and most talented people are likely to receive the highest amount of recognition from their supervisors. They are also likely to be recognized by their peers, since the ability to work well within a team is another important component of productivity. However, when you’re seeking out the truly top performers in your workforce, it’s also important to identify those who are most often recognizing others.

According to a recent Achievers study, employees who were promoted turned out to have a track record of actively recognizing their peers. In fact, before being promoted, these high performers sent an average of 3.8 times more peer recognition than the average employee. In this way, employee rewards and recognition programs provide two separate metrics for  identifying top talent: those who receive the most recognition, as well as those who give the most acknowledgments to others.

Tie recognitions to company values

Your organization probably took significant time and effort to craft a mission and values statement.  This statement is more than mere words residing on a wall, a website, or welcome pamphlet; it can serve as a dynamic tool for shaping your employee recognition program. By tying recognitions to your company’s core values, you can see which performers are embodying those values most authentically. This approach is sometimes termed “Management by Objectives,” and it feeds employee motivation by helping every member of the organization feel that their contribution is truly meaningful.

High performers have unique needs

The workplace factors that keep your super-skilled employees motivated are somewhat different from commonplace worker needs, and it’s necessary to be aware of these differences. While competitive salaries are important, HBR research points out that using regular compensation as a method of delivering employee rewards can potentially backfire and cause resentment among coworkers. On the other hand, high performers care significantly more than average about having their efforts noticed, recognized and rewarded. These rewards can be in the form of social or financial recognition, but in either case, your top talent is especially eager to receive praise, financial incentives and frequent feedback. This is another reason that if you’re in the habit of only providing annual or semi-annual evaluation sessions, the employee engagement levels of your top performers is likely to suffer.

Why you need to focus on high achievers

While highly skilled employees are slightly more satisfied with their jobs than the average worker, one in five say they’re likely to leave their current position within the next six months. Furthermore, if and when your top employees do decide to move on, their skills will lead them to easily find new opportunities. Given the high levels of productivity and the contributions these extra-competent workers make to the workplace environment, losing even one of them can be a blow to your company.

Help your top performers fulfill their potential

Employee retention is only one of many reasons that HR professionals and managers should invest in the effort to nurture high achievers. Equally important is  assisting in their career growth and providing them with development opportunities to help them reach their full potential. A major component of nurturing employee success is to  ensure tasks remain challenging and varied. High achievers “live for the challenge,” and seek to overcome obstacles and solve problems as a source of personal accomplishment. So make sure to provide them opportunities to stretch themselves through varied and challenging assignments.

Employee recognition best practices dictate that recognitions will be most meaningful to these talented workers if they reflect on an achievement that was truly praise-worthy. High achievers are tireless, curious, full of passion, and internal drive. If they’re recognized they want it to be for something substantial and worthwhile. In other words, don’t praise them for minutiae such as arriving on-time or keeping a clean work area. Instead, provide detailed and specific feedback that focuses on the positive impact they are making through their diligence and pursuit of excellence.

The right HR technology can be your ally

Identifying top performers can help your organization discover who your most engaged employees are (and vice versa), allowing you to effectively leverage their skills and enthusiasm as a positive force in the workplace. HR tech is steadily evolving, and data gleaned from a cutting edge rewards and recognition platform can now provide you with valuable insights to help you identify and retain your top performing employees.

To learn more about how employee recognition can help you identify and retain your top talent, as well as having a positive impact on your entire workforce, download our eBook: The Ultimate Guide to Employee Recognition.

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Employee Engagement in HR Tech

3 Employee Engagement and Recognition Predictions for 2017

By: Jessica Barrett Halcom

Many of the emerging HR trends for 2017 are being driven by the millennial generation. Now representing the largest portion of the workforce, millennials value different things when it comes to their careers. What they want and what they look for — things like being recognized and making an immediate impact — have created a strong demand for employee engagement and recognition platforms that many leading companies are now adopting.

Employee recognition software linked to a corporation’s values can help incentivize employees while aligning performance with personal goals and values.  With the right recognition software in place, employees are able to gain a clear and immediate picture of their short-term achievements, how they compare to their team members, and how they’re measuring up to personal goals and company goals. They also get valuable feedback and recognition for a job well done.

The millennial generation looks for things other than a steady paycheck and the stability of working for one employer for the next twenty years. In fact, the majority of them will consider moving jobs if it means advancement and learning something new. HR departments need to continue seeking new ways to hang on to their top talent through something more substantive than free lunches and napping pods.

This is why in 2017, more companies will be focusing on employee engagement and the employee experience as part of their retention strategy. We can also expect more companies to adopt employee engagement software. Here are our top three predictions for 2017:

1. More Work-Life Blending

The modern workforce is willing to work hard, but they want to maintain flexibility and balance with regards to their personal lives. Today’s employees are comfortable checking their smartphones on personal time to respond to work emails and doing a little work on their laptop after having dinner with friends or family, as long as it means that, in return, they can skip the grueling commute and work from home once a week, or leave early to catch their daughter’s 3 p.m. soccer game.

Collaboration tools let employees check in with their boss, team, or a company meeting, without physically having to show up, and without losing any of the momentum on a project or missing important deadlines.

2. Recognition Will Continue to Increase in Value

The average time an American employee spends with any one company now is less than five years. This is a far cry from the days of gold watches and lunch with the CEO thanking you for your many years of service. Employees are more interested in social recognition, because feeling valued is a critical component to the work environment they want to be a part of. They want to feel like the work they do matters, that it’s noticed, that it made a difference.

Receiving recognition, encouragement and appreciation is inspiring and motivates employees to continue doing great work. Employee engagement strategies help leaders and peers to publicly recognize a job well done and fosters a culture of celebration.

3. Flashy Benefits Won’t Compete

People are starting to value experience over money, which is why they want to work in a culture of growth and learning and have opportunities to do something they can be proud of. Employee engagement software helps employees know exactly what kind of impact they’re having on the business in real time.

Culture has become one of the most important things a company can focus on, and providing employees with autonomy, flexibility, and the chance to make an impact, are the new differentiators for attracting talent. Benefits packages are still important, but in 2017, they will become secondary to positive employee culture. Companies that have ditched the traditional, annual review and moved to a model of continuous feedback and a strong culture of recognition are far more attractive to today’s employee than those offering a catered snack bar and quarterly ping pong tournaments.

* * *

In 2017, you can expect to see more companies adding employee engagement software to their HR platforms, doing away with the traditional annual review process in favor of continuous feedback, furthering the work-life blend, and placing a strong focus on the employee experience, aligned with a purposeful mission and meaningful goals.

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About Jessica Barrett Halcom
Jessica Barrett Halcom is a contributor for TechnologyAdvice.com, with specializations in employee engagement, learning management system and performance management software. She holds a bachelor’s degree from the University of Wisconsin, Green Bay and currently lives in Nashville, TN.

 

Desire for Social Recognition

Why Employees Love Social Recognition

A business isn’t anything without its employees. So in order for your business to be successful in the long term, you have to ensure your employees are consistently performing at their best. How do you do that? By focusing on employee engagement. According to Gallup, “Companies with engaged employees outperform those without by 202 percent.”

But how can you move the needle on employee engagement? One of the best and most effective ways is through employee recognition programs. In fact, according to a survey conducted by the Harvard Business Review, recognition given to top performers was the most impactful driver of employee engagement. Social recognition, in particular, is a fun and easy way to quickly show employee appreciation and boost employee engagement.

More recognitions = higher employee engagement

Employees experience an increase in job satisfaction from rewards and recognition, and it’s important they come from peers as well as supervisors. As noted in our recently published eBook, The Case for Employee Recognition, 71% of employees rank employee engagement as very important to achieving overall organizational success and 72% rank recognition given for high performers as having a significant impact on employee engagement. Furthermore, the report shows there is a negative correlation between the effectiveness of a recognition program and employee turnover rates – meaning employee recognition not only boosts employee engagement but reduces turnover rates as well.

Rewards and recognition create a positive workplace culture

A recent SHRM study noted that employees consider “culture and connection” to be a major contributing factor to employee job satisfaction. In recent years it has become widely accepted that implementing a robust rewards and recognition program is one of the top means of fostering a positive workplace culture, and one that promotes mutual respect and employee appreciation. In fact, a 2015 Cornell University research review noted that, “41 percent of the variation in employee engagement is attributable to the strength of recognition an employee receives,” and that 42 percent of companies with recognition programs include a social peer-to-peer component. In the conclusion of the study, the author states: “Recognition programs are becoming powerful avenues for exerting positive change in the workplace. What was once a nice-to-have practice is becoming a driver for improving employee engagement and a host of other factors that impact the bottom line, when properly executed. By making the programs strategic, leveraging peer-to-peer recognition, and garnering top executive buy-in, companies can maximize their return on investment on these programs.”

Social media is second nature

By 2025, millennials will make up 75 percent of the workforce, and they are accustomed to spending a big chunk of their time on social media. Giving and receiving positive reinforcement by way of social recognition is fun and natural to them. Social recognitions are not viewed as tasks or something they need to check off the “to-do” list, but an instinctive way to communicate with their peers and to showcase each other’s accomplishments. Social recognition has become an invaluable piece of the puzzle when it comes to initiating and sustaining an effective rewards and recognition program.

With 70 percent of U.S. workers not engaged at work, it is imperative for businesses to focus on employee engagement; and kicking off an employee recognition program is the logical first step. Through recognition, employees will feel more appreciated and, in return, be more productive. 77 percent of employees even stated they would work harder if they felt better recognized. As the Cornell report states, “What was once a nice-to-have practice is becoming a driver for improving employee engagement.”

To learn more about how your human resources department can establish a successful employee recognition program, download our 2016 Buyer’s Guide to Social Recognition.

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Measuring Employee Performance

5 Performance Measurement Myths

By: Meghan M. Biro

The question of how to measure employee performance represents one of the last vestiges of old-school HR methodology. Today’s workforce is digitally transformed, highly social and mobile, made up of multiple generations, and collaborating across virtual and global locations. There has been a profound shift in the workforce away from hierarchical, top-down organizations towards teams and collaboration, where having a culture of recognition can drive engagement and results far more effectively than infrequent reviews handed down from on high by management.

We all want the best hires and to lure the top talent. But once on board, they’re part of the organization, and now making sure that they’re fully engaged becomes the challenge. But how do we know if they are working up to their potential? Old-school approaches to performance management, which view a single employee outside of the context of today’s team-based, networked workplace, no longer ring true. Indeed some would argue that many of these approaches were myths to begin with – and I’d have to agree.

Here are five assumptions about measuring employee performance that need to be retired:

Myth #1 – Individuals should be judged solely on their own performance.

The idea that we perform as an island may apply to an isolated few, but it doesn’t fit the majority of workplaces — either today or yesterday. The investment made in working out how to evaluate individuals may be better spent evaluating the quality of their team or business unit’s output. What targets have been hit? What goals have been reached?

Perhaps we should be evaluating employees not only on their performance, but on their level of engagement and on their ability to thrive in team-based environment. Highly engaged employees are more likely to give the kind of discretionary effort that all bosses are looking for, and that have a tangible effect on a company’s bottom line. In fact, Aon Hewitt has reported that for every incremental one-point increase in employee engagement organizations saw a 0.6% increase in sales. For a company with sales of $100 million, this translates to a $6 million windfall! And in companies with the most engaged employees, revenue growth was 2.5 times greater than competitors with lower levels of engagement.

Myth #2 – Good employees just do the job, they don’t need a reason or added meaning.

Is the better employee really the one that doesn’t need to understand how their work aligns with company’s mission and values? Performance stems from engagement. And being engaged stems, in large part, from feeling aligned to — and invested in — the company purpose. Motivation and meaning go hand in hand.

Even if a task is performed well, accomplishing it inside a vacuum is going to create a gap somewhere along the line. Employees deserve to know why they’re there. They’ll participate more fully, and are more likely to push to reach targets and goals if they are invested in the rationale behind the effort.

Myth #3 – An employee that’s good this year will be good next year.

When a team of researchers dove into six years of performance review data from a large U.S. corporation, they found that only a third of high-scoring employees scored as high in subsequent years. And they found no evidence that high-performing employees always perform highly, or that poor performing employees perform poorly. Today’s workforce is continually being met with innovations that require new learning and new skills, so what’s “good” today may not be an accurate measure of what’s desirable tomorrow.

When a company uses trackable learning platforms, they have a means of measuring growth and development. To drive engagement and retention they can extend from onboarding programs, demonstrating a commitment to an employee’s growth from the moment of hire. 84% of employees want to learn, and keep learning. When you align an employee’s learning with the company’s business goals, that’s a win for all.

Myth #4 – Past performance is indicative of future results.

In 2015, a number of Fortune 500 companies announced that they were doing away with old school performance reviews. Accenture, the Gap, Adobe and General Electric all veered away from the annual or quarterly review ritual in favor of building a stronger culture based on continuous feedback and frequent recognition.

What’s happening instead is that many companies are moving to a system where employees and managers can give and receive social feedback and track the history of recognitions given and received. This new approach – measuring the frequency of peer-to-peer, intra-team and team recognitions within a powerful digital and social recognition program – provides better quality insights and has the potential to foster a far more positive, and productive, work culture.

Myth #5 – The best way to measure performance is when no one’s expecting it.

Spot checks, random and unexpected, are still recommended by some HR stalwarts, who assert that it’s a way to motivate employees to give a consistent performance. But it conveys an atmosphere of mistrust that may be more of a de-motivator.

Trust is critical to employee engagement, but it’s still in short supply: a recent survey of nearly 10,000 workers from India to Germany to the U.S. found that only 49% had “a great deal of trust” in those working above and alongside them. Contrast that with study findings showing that organizations are extremely concerned with driving engagement and promoting a workplace culture that is based on transparency and meaningful work. You can’t have both.

That we’re still having this conversation is in part because we may lack the imagination to see our way to a new starting point. But the real drive to perform comes from within.  We are motivated by purpose, and by being appreciated for what we do.

Employees today want to be engaged, we want to know what higher purpose our efforts are contributing to, we want to excel and to grow. Employers should start with that knowledge and measure their employees accordingly.

Make sure to check out the other series of guest blogs from Meghan Biro, starting with her first guest blog post For Recognition To Have An Impact, Make It Strategic.

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About Meghan M. Biro
meghan biroMeghan M. Biro is a globally recognized Talent Management and HR Tech brand strategist, analyst, digital catalyst, author and speaker. As founder and CEO of TalentCulture, she has worked with hundreds of companies, from early-stage ventures to global brands like Microsoft, IBM and Google, helping them recruit and empower stellar talent. Meghan has been a guest on numerous radio shows and online forums, and has been a featured speaker at global conferences. She is a regular contributor at Forbes, Huffington Post, Entrepreneur and several other media outlets. Meghan regularly serves on advisory boards for leading HR and technology brands. Meghan has been voted one of the Top 100 Social Media Power Influencers in 2015 by StatSocial and Forbes, Top 50 Most Valuable Social Media Influencers by General Sentiment, Top 100 on Twitter Business, Leadership, and Tech by Huffington Post, and Top 25 HR Trendsetters by HR Examiner.

 

employee recognition culture

It Takes a Recognition Culture To Spark Engagement

By: Meghan M. Biro

Today’s workplace is evolving rapidly. The recent focus on employee engagement has taught us plenty, including how closely tied employee engagement is to an organization’s success, and what happens in this disrupted, transformed workforce without engagement: our top talent moves on. We also know that one of the primary drivers of engagement is recognition. So where do those understandings lead? If we want to be successful in this changing landscape they lead to a workplace culture built on recognition, rewards, feedback and transparency.

But to spark the kind of engagement that spurs organizational success, recognition has to be ingrained in the culture – a central and fundamental part of an organization’s DNA. When this is achieved there are countless examples of tangible results. Here are just a few:

  • Ericsson’s North American operations boosted its employee engagement scores 14% higher than the industry average;
  • When M Resort organization instituted a trackable recognition program, it elevated employee engagement by 12% within the first 8 months. It also saw a continuing rise in customer satisfaction ratings;
  • Leading health information network, Availity has aligned its corporate values with its employee rewards and recognition program, supporting a fun and engaging work environment, and ultimately solidifying its culture of transparency and respect.

Culture First, Then Engagement: 3 Must-Dos

When we look at employee recognition and ask where to start and what to focus on, most of the answers we’re getting point to culture. Culture is not just another word in the special-sauce lexicon of talent management: culture, done right, is the glue that holds a workplace together. But if it goes awry, bad workplace culture can be the source of endless friction that keeps a workplace apart. In fact, and perhaps unsurprisingly, a new SHRM study found that more than three-quarters (77%) of employees say their engagement at work hinges on having good relationships with their co-workers.

An effective culture of recognition has three prongs:

Transparency and Democratization

Positive relationships at work are built on daily interactions between employees and through opportunities for productive, creative collaboration, not occasional projects or isolated moments. Another common expectation that has come to the fore as millennials have entered the workplace in greater numbers, is transparency. Recognition programs limited to “top down” performance incentives handed down by leaders who don’t bother to consult employees on their needs and preferences can shift culture in the wrong way. Instead of inspiring greater buy-in and cultural unity, these misguided efforts may instead inspire a job search. In a workforce that values transparency, a one-directional, hierarchical approach can look like thinly veiled condescension.

What does work: opportunities for recognition and rewards that build cultural synergies demographically, structurally, and geographically. These are the stitches in a quilt of recognition that includes everyone on all levels, entry level to C-suite, by enabling participation in all directions: uphill, lateral (peer-to-peer, team to team and across teams and departments), and top-down. Recognition in this form can navigate global divides, connecting multiple hubs and geographically dispersed locations. It can’t be left to a manager to know which of his or her people want the chance to cheer their teammates on, nor should it. And they shouldn’t need to approve recognitions either. To manage recognition instead of enabling it it goes right back to the problem of top-down relationships — it simply gets in the way. On top of that, managers have enough to do, as we all know.

Integration

In the latest Global Human Capital Trends report by Deloitte, 85% of executives named engagement a key priority, but understanding how to improve it is another story. Only 34% said they felt ready to deal with issues of engagement, though 46% of companies are tackling it head-on. In terms of recognition, integration means cross-platform, frequency and flexibility. It means offering varying forms of recognition and rewards from social to monetary, from informal “Thank You’s” to big ticket rewards and incentives. Integration also means enabling recognition across any platform: via smartphones, tablets, PCs, or even an on-site kiosk.

Integrated recognition programs are already evolving: some feature open APIs that connect to other important drivers of engagement, such as health & wellness and learning & development. This also speaks to the importance of culture and another expectation that has its roots in the millennial mindset: that employees should be valued not just as talent, or “human capital” but as real humans with real lives. Workplace flexibility remains a high priority for today’s workforce, but the digital transformation also means that health & wellness, learning & development, and performance management — can all exist online or in app. It’s an easy enhancement with great payback. Moreover, it’s another stream of trackable data.

Measurability

A culture of recognition that exists across multiple platforms and embraces a wide range of functions also provides a continuous stream of data – not just for a CHRO or an HR team to measure and gain insights from, but for managers and leaders throughout the organization. Tracking program ROI and managing rewards budgets is only one part the equation. Again, this is one of the most profound ways to drive and support transparency: by sharing and democratizing the data. Consider the possibilities of a team that can look at its own performance and behaviors; of managers tracking recognition patterns as they relate to engagement and performance. In terms of retention, skills gaps, identifying front-runners and planning successions, it’s an invaluable resource.

The right reporting and analytics tools provide another source of in-the-moment feedback as well, part of that reciprocal interaction between human talent and digital tools. It also makes reporting and ROI part of the very functionality of that recognition culture. In terms of feeling invested in business outcomes, and aligned with business goals, data and graphs speak volumes.

Endless Opportunity

A recognition culture supported by a robust digital platform provides endless opportunities for positive reinforcement, all tying back to tangible benefits and results. Developed with an organization’s mission and values in mind, a recognition culture should leverage technology to humanize the workplace and provide additional meaning for every task and interaction. In this current environment that values transparency, trust and flexibility, but is more scattered across locations, devices and platforms than ever, this is what it takes.

Check out Meghan M. Biro’s third guest blog post 5 Performance Measurement Myths.

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About Meghan M. Biro

meghan biroMeghan M. Biro is a globally recognized Talent Management and HR Tech brand strategist, analyst, digital catalyst, author and speaker. As founder and CEO of TalentCulture, she has worked with hundreds of companies, from early-stage ventures to global brands like Microsoft, IBM and Google, helping them recruit and empower stellar talent. Meghan has been a guest on numerous radio shows and online forums, and has been a featured speaker at global conferences. She is a regular contributor at Forbes, Huffington Post, Entrepreneur and several other media outlets. Meghan regularly serves on advisory boards for leading HR and technology brands. Meghan has been voted one of the Top 100 Social Media Power Influencers in 2015 by StatSocial and Forbes, Top 50 Most Valuable Social Media Influencers by General Sentiment, Top 100 on Twitter Business, Leadership, and Tech by Huffington Post, and Top 25 HR Trendsetters by HR Examiner.

 

Employee Recognition HR Stats

5 Eye-Opening HR Stats: Why Employee Recognition Matters

By: Sarah Clayton
Communications and Campaigns Specialist, Achievers

Employees are arguably the most important component of a successful business.  Employees put a human face on the product, build relationships with customers, and define the work culture that feeds business performance – yet 32% of companies struggle to retain top talent. What defines an effective retention strategy varies from business to business, but there is one common element that has been found to work across most business types and sectors: employee recognition. In fact, a recent Achievers’ study found that employees have a deep desire for recognition, with 93% hoping to be recognized at least once a quarter. In addition, 75% of employees who received at least monthly recognition (even if informal) reported being satisfied with their jobs. And finally, in a recent Harvard Business Review study, 72% of respondents ranked recognition given for high performers as having a significant impact on employee engagement. With these kinds of numbers, it is clear that both employees and employers stand to benefit from a well-executed employee recognition program.

As we approach the end of 2016, this is the perfect opportunity to define the tone for the New Year and reflect on the importance of employee recognition for businesses. To help set the groundwork for a successful 2017, we present to you five revealing HR stats that prove the value of employee recognition.

  1. Employees are loyal to careers, not jobs 

    Workplace loyalty is not derived from a job; it is nurtured through a fulfilling career.  78% of employees would stay with their current employer if they knew they had a career path instead of just a job. With employee recognition, you can motivate and identify core competencies to help develop career paths for employees in a positive and organic way.

  1. Understanding progress matters 

    Goals can be daunting: understanding the progress made towards attaining them makes them seem more manageable, and 32% of employees agree. Employee recognition isn’t just for the big wins; it’s an excellent way to support progress and provide encouragement by giving employees feedback every time they move one step closer to completing their goals.

  1. Respect knowledge and experience 

    People work hard to cultivate their skills, and 53% of employees say respect for their knowledge and experience is their top expectation of leadership. An employee recognition platform allows both leaders and peers to publicly praise employees for their expertise, providing the employee with further motivation to develop it further.

  1. Recognized employees are happy employees 

    Employee recognition doesn’t require a huge commitment. In a recent survey of 1,000 U.S.-based, full-time employees 75% of employees who were recognized by their manager once a month – which is a good cadence to check in on progress to long-term goals – reported being satisfied with their job. While 85% of those that were recognized weekly reported being satisfied. The more satisfied your employee is, the more engaged they will be, and the more likely they will stay with your company for the long-term while producing stronger results.

  1. A mission statement is meant to guide employees 

    Unnervingly, nearly two-thirds (61%) of employees don’t know what their company mission statement is. An employee recognition program, clearly linked to a company’s mission and values, is a great way to align employees around those values. By praising and reinforcing behaviors and outcomes that line up with and support the company’s mission and values, employees are inspired to live and breathe those values every day. This in turn helps to build a unified corporate culture and makes clear to individuals how their work helps the company to achieve its goals.

Retaining employees is about establishing reciprocal loyalty, making their jobs feel meaningful, and supporting and encouraging their professional development – one of the best ways to do all of these things is through employee recognition. When a company demonstrates its commitment to supporting and recognizing its employees, they will be rewarded with engaged employees who are dedicated to contributing to the company’s mission and bottom-line.

To discover more eye-opening HR stats and learn more about the correlation between recognition and retention, check out our white paper: The Greatness Gap: The State of Employee Disengagement.

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About Sarah Clayton

Sarah ClaytonSarah Clayton is the Communications and Campaigns Specialist at Achievers, where she focuses on generating content to drive desired recognition behaviors and engagement on the platform.

 

 

Employee Appreciation

Spreading Employee Appreciation Across Achievers

By: Kellie Wong
Social Media and Blog Manager, Achievers

It’s that time of year again, time to give thanks! And what better way to give thanks than to thank our very own employees here at Achievers. A business is nothing without its employees, which is why we encourage frequent employee appreciation. Today, we’d like to highlight some of the top employee recognitions sent across our ASPIRE platform, powered by Achievers’ HR technology. We’re proud of our employees and everything they accomplish day-to-day. Check out some of our favorite recent employee recognitions and get inspired to thank someone in your organization for a job well-done!

ASPIRE recognition for embrace real-time communication ASPIRE recognition for care, share and be fair ASPIRE recognition for act with sense of ownership ASPIRE recognition for live passionately ASPIRE recognition for act with sense of ownership ASPIRE recognition for thank you ASPIRE recognition for act with a sense of ownership ASPIRE recognition for build a positive team spirit

Huge shout-out to Achievers’ employees for everything that they do. If you want to know what it’s like to work at Achievers, check out the Achievers Careers Page. We’re always looking for top talent to be a part of the A-Team! Apply today.

And don’t let employee appreciation be limited to the holiday season. Start encouraging employee appreciation throughout the entire year with an unbeatable employee recognition and rewards program! Take the first step by downloading The Ultimate Guide to Employee Recognition.

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About Kellie Wong
Kellie Wong
Kellie Wong is the Social Media and Blog Manager for Achievers. She manages Achievers’ social media presence and The Engage Blog, including the editorial calendars for both. In addition to writing blog content for The Engage Blog, she also manages and maintains relationships with 20+ guest blog contributors and edits every piece of content that gets published. Connect with Kellie on LinkedIn.

 

 

High Employee Turnover

How to Protect Your Company from High Employee Turnover

Every manager and HR professional views employee turnover as a headache, but do you actually know how expensive and damaging it can be to your organization? Here’s a look at the dimensions of this complex problem and some tested managerial practices to alleviate it with long-term solutions.

The dimensions of the problem

Current statistics from Catalyst show that it costs an average of one-fifth of an employee’s salary to replace that person, which means that for a position paying $50,000 a year, your replacement costs will generally run over $10,000. Furthermore, this cost estimate is only an average; replacing more specialized employees can often run into six figures! One Catalyst estimate states that turnover-related costs amount to 12 percent of pre-tax income for a typical company; and these figures don’t begin to describe the internal stress created when someone quits, or the hit your brand can take if a disgruntled departing worker shares their displeasure on social media.

From the employee point of view, it’s important to realize that in 2015, almost 25 percent of American workers left their jobs voluntarily. Moreover, nearly 37 percent stated that they were currently thinking of quitting, even though they hadn’t made the move yet. The root of employee attrition originates in a lack of engagement, so the best approach to protect your company from high employee turnover is to focus on employee engagement. However, despite these alarming figures, nearly 1 in 5 executives still don’t measure their employees’ engagement in any way.

Start at the beginning

Creating a sense of engagement and belonging in your staff begins on the very first day. One-third of all employees know within the first week at a new job whether they will stay with the company for the long term. With this in mind, it is important to focus on the quality and structure of your onboarding process. Your onboarding process should be built with employee retention as one of its primary objectives. The mission and purpose of your organization should be clearly communicated from day one so that your new hires can envision your company as the right fit for their career in the long run.

Build team relationships

Assigning a mentor to new employees helps them integrate into the work culture and feel more welcomed by other team members. The mentor will naturally take an interest in the person to whom they are assigned, and should feel invested in making sure the new employee transitions into their role smoothly. An important thing to remember is that formal mentoring is only a part of the senior employee’s job. They also need to make introductions, share practical knowledge, and help the new employee to feel welcomed as a valued part of the team.

Make room for personal work styles

Providing enough flexibility to allow for various work styles and schedules is also becoming increasingly important to organizations’ employee retention efforts. If you have employees who have expressed an interest in working a slightly adjusted schedule, allowing them to shift their start time a few hours earlier or later builds loyalty and goodwill by letting them know you trust them to enough to be flexible. Harvard Business Review cites an experiment in which half the workers at a travel website were allowed to choose whether they’d like to work from home. After a nine-month trial period, the company found that workers in the at-home group quit at half the rate of those who remained at the office. Furthermore, productivity in the at-home contingent had increased by 13.5 percent. Not every employee prefers to work remotely, but facilitating that opportunity will build your brand’s reputation as being a responsive, caring employer.

Help your employees reach toward the future

Providing your staff with training and development opportunities is also an essential part of any retention strategy. This may seem counter-intuitive if you think that you’re just spending money training your staff for their next career move. But as a matter of fact, training has been statistically linked to retention, and HR consultants point out that their experience bears out these figures. Offering your staff the chance to increase their skills is a form of succession planning: By nurturing your company’s top performers you ensure a home-grown stable of future leaders. It also broadens the extent of your own in-house expertise, potentially saving you money by filling existing gaps in skills. Finally, the challenge of and rewards of learning new skills increase employees satisfaction and actually slows employee turnover.

Engage employees through recognition

Recognizing your employees for the contributions they make is another essential element in any program to increase retention. This basic management truism is all too easy to set aside when the pressure is turned up for higher productivity — but the price of ignoring employee recognition is far too high to pay. In a SHRM survey of workers who had quit in the first six months of a job, 38 percent said that they might have stayed if they were “recognized for my unique contributions,” or if they received more attention from coworkers and managers, or if they had simply been offered a friendly smile.

The solutions to employee turnover are some of the same actions that will strengthen every aspect of your business. When you make internal changes that bring your staff a greater sense of well-being and a feeling of being supported, you’ll not only retain them but also attract top talent and deliver better products and services as a result. To learn more, download our white paper on uniting your workforce with a positive company culture.

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