Retaining talent with recognition

A simple “thank you” is a no-cost, high-reward way of letting your employees know you appreciate their hard work.

It comes as no surprise people want to be heard and recognized for their contributions. Therefore, managers need to be equipped to respond to their employees’ need for feedback and recognition in a more supportive way. Sending employees to work from home in the wake of the COVID-19 pandemic has added one more complication to effectively recognizing employees, but out of sight isn’t out of mind. In fact, 64% of employees say recognition and appreciation are even more important while working from home. But only 24% say their organization has implemented new ways to recognize them.

Seventy-nine percent of millennials say that an increase in recognition would make them more loyal to their employer. Companies that want to retain and attract the best talent and avoid the talent gaffes of the last recession need to visibly acknowledge employees’ work and let them know the company is listening — no matter where the employee is working. Then, leaders and managers need to take action that matters to employees at an individual level.