Investing in employee recognition and appreciation strategies is as essential for your organization as it is for your workforce, if not more so. Offering a competitive compensation package is, as always, a necessity for attracting and retaining talent. Yet, research has shown that unless you invest in staff recognition, you’ll still bear the burden of employee turnover.
According to Gallup, employees who don’t feel recognized are twice as likely to quit the job, and that includes your top performers. For each collaborator that walks out the door, expect to spend at least one and a half to two times their annual salary to replace them — not to mention the damage turnover can do to your culture and the remaining team’s morale.
Dive into this blog post to learn more about how to boost employee recognition and appreciation - even remotely!