Are you recognizing your employees? If not, it may be costing you money!

Are you recognizing your employees? If not, it may be costing you money!

Most companies know that when your employees are happy, satisfied and valued at work, they work harder at their jobs – which in turn, helps the company grow.

When employees are unhappy, they dread going into work and dread being at work. When employees are unsatisfied with their work, they may delay finishing the job or even starting it to begin with! When employees don’t feel valued from their employer, their motivation and appreciation often lack.

When this happens, it can costs the company more. Why?

The company is still paying the employee to work each day. If the employee does not feel appreciated and valued, they may delay finishing a project. Even worse, they may quit – which leaves the employer to take the time to find a new employee.

To find a new employee, on average, it costs $4,129 and 42 days to fill a position, according to the Society for Human Resource Management.

What efforts are you putting into finding a new employee?
-Paying for a Recruiters salary?
- Hiring a recruiting firm?
- Posting job ads?

The effort and cost to hiring a new employee can be huge.

So, rather than creating Employee Churn, why not try a different method?

Try employee recognition & appreciation!

Employee recognition is going to cost way less than hiring a new employee. Making a small investment of time and money can make a huge difference for the company.

So, what are some recognition tools you can do with your employees?

  • Individualized thank you from team members and management

  • Breakfast / Lunch / Treats to celebrate a Win

  • A gift for a special event: ex:) Is it someones birthday? Send them a birthday box!

  • A company-wide celebration / congratulations

  • Gift cards to a favorite restaurant, etc.


Offering recognition & appreciation can help keep employees employed, make them happy, and of course, save you thousands of dollars in employee churn.

 

Author: Samantha Farley
CEO of PeopleProud

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