Why are Recognition Programs related to Employee Retention?

 

It does not take much effort to understand that employee recognition is related to employee retention.

A recent survey by SurveyMonkey has proved that 63% of recognized employees are unlikely to search for a new job and love to stay in the same organization.

So, this goes to show that employee recognition is a strategy applied by most HR departments. 

Programs like 

• Perks
• On The Spot Awards
• Gift Cards
• Achievement Awards 
• Long Service Awards 
• Staff Recognition Awards
• Shoutouts
• Electronic Products
• Handwritten Thank You Note from Peers
• Cash Awards

The above are strategies implemented by most HR departments. It then depends on the organization and the HR team to decide the suitable recognition program for their employees.

Many organizations opt for awards, trophies and mementoes as a form of recognizing employees’ contributions. Such mementoes are an excellent way of capturing memories and a great branding opportunity for the organizations. It becomes a win-win situation.

Unlike other gift items, employees love to receive awards in the form of a trophy since it becomes a symbol of their achievement which they savour for a lifetime. Also, the employee does brag about the moments of their appreciation by posting pictures with the trophies. 

Thus, the employee takes home a piece of a memento and is a part of your organization’s brand. This memento will remind him of the time and the efforts of the organization to appreciate his hard work. These factors add to a beautiful bonding between the two and result in a long-lasting relationship and growth.

Thus, Trophies and awards are meaningful and easy means of recognition. Other means may fail due to the likes and dislikes of the employees. But a trophy will surely impress and motivate the individual.

How important is Employee Retention?
A motivated employee result tends to stay for a more extended period in the organization. Hiring new employees involves a lot of time and expenses. The time required to train new employees is proportional to the slow growth of the company. All of these and many more factors are essential for the growth of the employees with the organization.