Have you ever worked for a company that seemed to maintain a staggering turnover rate? Well, you're not alone. This is a problem that many businesses face.
When employees first join an organization, they are motivated, engaged and ready to face any and all opportunities head-on. Sadly, it is often the case that these same eager employees end up watching the clock and lose interest in making a difference.
Ready for a staggering stat? Based on the research of Gallup, 70 percent of employees are disengaged in the workforce. This can result in a 30-50% higher turnover rate than competitors with a highly engaged culture.
Are there specific areas that organizations need to focus on to prevent losing employees?
Yes, there are many areas of which organizations can focus, but one of the most important is appreciation. Appreciation, demonstrated in many different forms, is a highly effective way to increase engagement and lower turnover rates.
How can your organization show appreciation for their employees?
Here are a few tips that will positively impact your organization:
- Say thank you. Often leaders forget that being appreciative can go a long way. This is a big mistake. Employees that feel they are a part of something meaningful -- and are recognized for their positive contributions to your organization -- are far less likely to leave.
- Get to know your employees. When leaders take time to build a personal relationship with their employees, it creates a bond that results in loyalty to your organization.
- Give them recognition in front of their peers. Share their achievements openly -- this will boost morale, inspire your team & encourage motivation.
As a leader of your organization, it’s your responsibility to provide consistent recognition and appreciation for your employees. Appreciation should be meaningful, deliberate and have purpose. If employees feel that the appreciation is not genuine, they will see through your efforts, leading them to look for other opportunities.
Leaders who continually show purposeful appreciation for employees can encourage employee loyalty and a culture of engagement. Be certain to engage your team with meaningful appreciation!