Finding ways to recognize employees should be a goal of every employer. Showing them how much you appreciate their hard work is a win-win situation for everyone.
Here are some of the key reasons you should recognize your employees for their contributions…
Less Employee Turnover
Having to interview, hire, and train new employees can be a major drain on your time and energy. It’s often better to keep the talented employees you have. One of the reasons employees leave a workplace is that they don’t feel appreciated, so a little recognition can go a long way.
It Can Help Them Bond as a Team and Build Morale
Employees everywhere are used to their duties changing as businesses evolve and rethink their strategies. When you add new duties or new coworkers into the mix, existing employees get nervous. They’re used to their routine, and new faces and job descriptions can disrupt that.
That’s why it can be smart to reward your employees with fun team-building retreats or parties—and you can host them at The NEW Center! Having fun in a relaxed atmosphere like that can give employees a chance to get to know each other outside of the workplace and realize that they’re all working toward the same goal. That can lead to stronger ties and better cooperation.
It Improves Your Bottom Line
Any funds you invest in employee recognition might be the smartest money you spend on your business. You can hold onto more of your profits by rewarding your loyal and hard-working employees. You won’t be losing money advertising for and training new hires.
It Gives You Positive PR
When employees work for a company where they don’t feel appreciated or valued, their friends and families hear all about it. And then, those friends and family members mention it whenever that company name is discussed in their own circles. In short, employees can offer some of the best, or worst, word of mouth your business receives.
That word of mouth will be a lot more positive if you make your employees feel valued.
The Takeaway
Whether it’s a verbal acknowledgment, a small token of your appreciation, or a team-building outing that will strengthen morale, employee recognition is a key component of maximizing your success as an employer. If you’re interested in planning a corporate retreat or a fun lunch and learn event for your team, contact us to see what’s possible!