As the job market improves, companies will likely face growing competition for talented workers. With new job listings and offers, companies are at risk for seeing increasing rates of employee turnover. Companies that aim to maintain their pool of talent should consider showing more appreciation for workers to increase retention and productivity within their workforce in 2015, according to Forbes.
Although companies acknowledge the importance of employee appreciation, workers may not experience as much recognition with their work as they want. Employees value being praised for their work through reward and recognition programs.
Here are three ways to appreciate workers more in 2015:
1. Add more training opportunities
To help employees feel appreciated on the job and fulfill their own personal goals for growth, employers should offer training or mentorship programs, according to the Tennessean. Giving workers the chance to learn a new skill or technology could increase sales workers’ ability to meet new challenges and achieve their current goals.
2. Give a personal thank you
Compared to sending out a mass email thanking employees for their work, recognizing workers individually could make a greater impact. Employees may feel more valued through a personal note or thank you from their companies’ leaders, according to CIO. A thank you could have a positive impact on workers by recognizing them for their work to meet employee goals and by motivating workers to continue to do a great job.
3. Offer incentives
In addition to a handwritten or customized note, employers could give workers gifts and incentives. These rewards to celebrate workers’ outstanding achievements may include cash, a gift card to employees’ favorite restaurants, a plaque for making the most sales in a quarter or another accomplishment.
“You can [also] say ‘thank you’ with gifts that are personalized,” said Heather Rykowski, president of corporate gift service All in The Present, according to CIO. “Gifts are strong motivators because they are memorable and make us feel good.”
As companies consider ramping up their appreciation for their employees, they may face the problem of knowing which employees are deserving of these rewards. When handing out awards, employers should be careful to recognize only employees who fulfill the qualifying criteria or else they may waste resources in their rewards and recognition programs. Firms could install sales performance software to better track employee performance and have accurate assessments of employee achievements and sales rates.
