Do Recognition and Rewards Really Help Boost Retention?
August 29, 2011
Far more important for today's employees is this: intangible recognition for a job well done. This recognition usually requires little or no financial commitment for an organization, yet produces a high return. Included are things such as:
Managers who systematically do such things with their employees almost always are viewed favorably. They reap the benefit of being a magnet for talent—and the type of manager an employee may be reluctant to leave.
There is one saying: "If you have a good boss, you have a good job." And another: "People are attracted to companies, but leave managers." Both of these nosegays acknowledge the importance of managers in forging relationships that make employees appreciate their jobs and workplace. As a result, employees strive to do the best job possible day after day. How employees get treated by their managers is thus a "make or break" issue with respect to retention: They either desire to remain in their jobs over time—or can't wait to leave the first chance they get.
SOURCE: Bob Nelson, president, Nelson Motivation Inc., San Diego