Your employees may be your biggest expenses, but they are also your greatest long-term investments. Investing in employee engagement now, pays dividends later. This is not a new concept, nor should it be. However, it’s integral to maximizing your return on investment and establishing a competitive edge in the marketplace
Every company knows about the cost-per-hire metric. It may seem high, but it is small compared with the cost of a candidate leaving further down the road before you’ve ever had a chance to recover with these costs. Which is why appreciating and giving your employees the right recognition is a must when running your own company.
Though there is no simple or one-size-fits-all solution to reduce employee turnover, building an organizational culture of recognition for exceptional ideas and performance can help. Leaders just need to take the time to lay down a strong foundation that supports long-term talent retention. Employees are driven to perform meaningful work. The collective ideas, skills and knowledge employees bring to your organization are your company’s greatest assets.
The value a candidate brings to your company should appreciate over time. Make sure you have professional development steps in place to meaningfully engage them early on. Employees also value appreciation for good effort. Recognition systems that acknowledge brilliant ideas and exceptional performance are self-perpetuating because they encourage further ideas to be exchanged. Regardless of rank, all employees have the potential to contribute valuable suggestions, particularly in an environment that implements those ideas.
At Trends and Concepts, we create an engaged organization that shares much more than the collective pride toward a company’s outputs. Our employees are proud and empowered by a workplace that promotes dialogue, continuous feedback and recognition. At Trends and Concepts employees are driven to make meaningful contributions, they make more confident decisions and give the best front-line service.