Keep your best talent with these employed secrets | Businessman

Given that the Human Resources Management Society estimates that the replacement of employed costs between 50-200% of their annual salary is not a strategy to maintain employees, it is an investment.

High employee turnover is often a direct consequence of poor recognition. When employees leave, they take valuable institutional knowledge with them and forcing organizations to restart the costly and time -consuming hiring process.

According to a Watson Wyatt survey, over 50% of the companies lack a formal strategy that would maintain employees by recruiting.

Companies have sophisticated strategies to maintain customers. For example, United Airlines offers its most faithful members, millions of Miles, gold status for life. However, employee retention programs are in employee benefits and become more of human resources than strategic obligations.

I learned this lesson, painfully, previously in my career. Long -term product management was about to intervene its five -year anniversary with the company. I was new and focused on other priorities and did not want to involve My Lyself. My HR manager grabbed the Amazon 50 $ $ 50 gift card and a standard thank you from CVS. As I said, the anniversary of employees (and birthday) was not priority on my list.

Six later weekends resigned from the competitor’s offer. During her output interview, she mentioned the feeling of underestimation that the years of determination deserve more than a general low value gift card. When I heard about it, I was surprised that something like that less It had such a meaning of consequences, although I was still convinced that it was a special effort to make a more personalized approach to recognition.

I was young and naive about the importance of maintaining employees.

On the other hand, as we recently dealt with the recent five -year anniversary of the chief engineer. By talking to its meaning, we learned that he was passionate about the mountain bikes with an old, beloved helmet. In his favorite color we bought a high -quality helmet at the highest level if the team and his children signed a card with details of the specific posts he provided and introduced it during a team lunch. Four years later he is still with us and still uses the helmet.

According to the Gallup report and workhuman, employees receive meaningful recognition. To increase the employed retention, the organization must focus on meaningful recognition, which deals with what really uses value: compensation, professional development and culture in the workplace that favored at all levels.

Related: 10 Warning Signals Burnout of Employees and How to Make it

What makes the difference between the recognition that creates loyalty and recognition that does the talent away? Here are three critical qualities of effective strategies to maintain employees:

1. Singerity is the basis of meaningful recognition

Looks like someone cared enough to think about the individual used?

If someone loves pens, stylograf can have a greater impact than champagne bottles with a similar price. It is not a cost, it is a demonstration that the company management sees and appreciates individuals over their outputs. This is the key to employee satisfaction.

General praise and generic actions feel hollow. Specific recognition builds corporate culture.

Related: If you want people to watch you, stop being boss – 8 steps to truly effective guidance

2. The quality is in line with the value

Do they feel acknowledging proportional years of service?

Over the years, Gold Watch has been a gift for many companies for many companies, and employees are still used in key milestones. It is a classic preservation of the strategy for some reason.

Quality does not always mean exisseed, but it means thoughtful. A hand -written note from the CEO could cost nothing but time, but it brings a meaningful emotional weight. On the contrary, the bulk -produced certificate with a printed signature feels negative, especially for longer tenure and little improves the maintenance of employees.

I watched it alive when our investor celebrated the 15th anniversary of my vice president. Rather than a standard commemorative plaque, the CEO discovered a passion for sailing and commissioned his own half model of his dream sailboat with personal plans of brass detail.

The costs were comparable to the middle of the middle light, but the impact was deep. Months later, at an industrial conference, this executive mentioned that larger companies tried to hire it with the importance of salary increase, but could not imagine leaving the organization that received it. Communicate the value of consideration that no general gift or cash bonus match.

3. The perception of value depends more than the cost

Does an employee appreciate a gesture or a gift?

This exceeds money to what the values ​​personally employed. Employed employees consist of approved asorative gifts of significant cash bonuses, gift cards and especially paid leave.

The perception of value varies significantly in individuals; Some may recognize public recognition, while others prefer private confirmation with tangible benefits.

The key is to understand what is a value for each specific employed, which requires that managers truly team members now as individuals, the main principle for organizations that successfully encourage employed to stay.

Recognition differs by the size of the company

In all companies, people want confirmation for their contributions. What seems to be recognized according to the company’s corporate culture and the dynamics of the team.

Larger companies can issue references to certificates and newsletter that could be enough in thousands of organizations. However, immediate teams should still provide personal recognition to increase the satisfaction of work.

This does not require a large amount of money. In these contexts, managers can conduct meaningful conversations that thank the employed for specific contributions.

Smaller companies face higher expectations that are sincere teams closer. The key is to create moments that strengthen bonds and cause employees to feel appreciated.

Building a culture of recognition that controls loyalty

Recognition that supports employed requirements that identify what really depends on each employed, celebrates success, connects individuals with a greater mission of the organization and evolves over time.

By treating employees as a strategic and business practice instead of the HR check box, you will convert it from the cost center to the returned generator.

When employees feel appreciated, they simply stay, become advocates of your society, ambassadors of culture and engine for growth.