During these peak sales times, it is important for companies to take the time to recognize the hard work of their employees.
A recent survey by BDO USA found that retail executives expect holiday sales to increase 2.9 percent from last year.
This means that companies will be increasingly busy trying to capture as much of the holiday rush as possible, with the goal of boosting sales. During these peak sales times, it is important for executives to take the time to recognize the hard work of their employees. The BDO survey found that retailers are starting holiday promotions earlier as a way to boost sales. This means employees will likely need to work harder and longer through the season, which could lead to a drop in morale and production at a time when it is especially important that they perform at their best.
Employee recognition programs can help companies cultivate a supportive, engaging atmosphere in the workplace. By offering small tokens of appreciation to dedicated workers, firms can keep production levels high. Marketing Week notes that a strong end of the year can make a big difference in the financial health of a company – even more so during tough economic times.
Research by the Chartered Institute of Personnel and Development found that cost-cutting measures and low confidence in the global economy have weighed heavily on workers. Fifty-eight percent of employees claim that they have neutral feelings about their jobs. Recognition programs could help companies increase employee engagement by building a more supportive environment.