Garnering a "revolving door" reputation as a company, i.e. one with high worker turnover, is something most firms want to avoid.
Garnering a "revolving door" reputation as a company, i.e. one with high worker turnover, is something most firms want to avoid. Many are doing so through the use of employee rewards and recognition programs.
A high rate of staff member turnover does more than just harm a business' reputation – it slows productivity and operational flow as well as limits growth by forcing the redirection of resources to regular staff trainings, The Winnipeg Free Press explains. Furthermore, it can depress morale among employees, as they have to pick up extra work or unfinished projects.
However, rewards initiatives can help companies better communicate their monthly, annual and overall goals as well as recognize key staff members for their loyalty, dedication and hard work.
"To be successful, organizations need both young people with fresh ideas and outside perspective and longtime workers with valuable knowledge and skills that has been developed and refined over time," the newspaper advises. "But to ensure that the organization can retain both valuable groups, they need to be aware of what employees value."
Firms can take to trusted workers and experts to determine what the best rewards for their office will be to motivate staff members and improve productivity.