If you subscribe to the belief that low
engagement equals low performance, you’ll
understand the importance of keeping your employees excited and sustaining the
belief that they are valued and
appreciated.
Losing an employee that you’ve spent time to hire, train,
and bring up to speed is
significant. The cost of replacing an employee who leaves is at
least 30% of that employee’s annual salary. To put that in
perspective, with a $150M annual payroll, just a 20% turnover would cost that
company $9M a year!
Employees
often leave due to a LACK OF APPRECIATION AND PRAISE – not money! A lack
of something as simple as an unexpected “you did a great job” – or “we
couldn’t have done it without you.”
Many companies use simple “thank you” recognition
programs to foster a CULTURE OF RECOGNITION. Others allow their employees
to say thanks to each other with peer-peer programs. Over the last few years research has shown that
positively engaged employees will perform better, last longer, and provide
better and more positive experience for your customers.
For more
information on Ultimate Choice Inc.’s products or services or other white
papers please contact us at Ultimatechoiceinfo@cox.net
