Do you believe that great performance matters? Then prove it to your team, because they may not know you value it. The good news is that every statistic that revolves around delivering recognition to your staff tells the same story… they want their performance to matter.
Given that the #1 reason staff members leave a job is they don’t feel appreciated, it should be easy to see how expressing appreciation is a great retention strategy. Add to that the fact that 65% of staff members claim they get no recognition at work and you can see the recipe for success.
Equally interesting, businesses that have active recognition programs see a 31% drop in voluntary employee turnover. This begs the bigger question…How?
Well, to start anything is better than nothing. It can be as easy and a note placed on the bulletin board praising some specific action/behavior from a staff member. According to Bersin by Deloitte, many of you already have a program, but your staff doesn’t even know about it. They found that 58% of your staff don’t think you have a program, yet 75% of you do. That is a problem that can be simply fixed by focusing. Since the benefit is a drop in turnover, it pays for itself and you’ll feel like the leader you want to become!
(Source: TheRail.media; by Andrew I. Jaffee)