How to Best Use Rewards & Recognition to Retain Talent
To win in the war for talent, you need to win the battle on the home front. And in this case, the home front is your existing workforce.
Winning the hearts and minds of your existing employee base is the foundation of true competitive advantage in the marketplace. Increasing engagement in the workplace not only correlates with higher revenue and profits but also lowers turnover rates. Holding onto to your talent should be an imperative that is continually examined and managed as a priority Rewards and recognition are an important tool in accomplishing that goal.
Top predictors of employee retention: Examining a massive database of 4 million employee records, we look at the top predictors of why employees stay at companies for the long haul.
The impact of financial and non-financial rewards on retention: There are many ways to reward employees – financial and non-financial. We look at which ones matter most.
The correlation between recognition and retention: We take a look at survey data about the difference between employees who feel recognized versus those who don’t.