Employee retention has been one of the severe headaches for most companies, especially Startups, services business and new age businesses. The Banquet Manager of a 5-star hotel recently confided that he was the only old face who
hasn’t switched in the last 3 years, and all his team members have been rotating through the limited 5 star hotels in the city. And so he knows that when an employee leaves, there is more than a 50% chance of him being back within 2 years. The topmost reason for leaving? Job boredom.
Job boredom takes top dollar in hospitality. In your company the reasons might be different. With primary reasons being several, how do successful companies go beyond addressing the symptoms? Some have found the answer in something that goes beyond traditional employee engagement.
Employee Engagement is the difference between winning and losing in the marketplace. Paid holidays, special allowances, free or subsidized catering at the work place, outings and entertainment …companies are busy experimenting with ways to show that the company cares and is a fun place to work. But away from these conventional goodies there is a new profound formula which is creating a greater bond between employee and the company. People call this subtle tool as Social Recognition. The challenge ahead is how to recognize more people and ultimately drive better performance, productivity and of course profits.
People love to be recognized, but they like it even better when they can share it throughout their company. Encourage your employees to share the great work they have do and show the rest of the company and the world that you have a great work place with a people focused culture using Social Employee Recognition.
There’s more! Employees can also share the good work they are doing on their external social networks as well such as Facebook, LinkedIn and Twitter. Give your people a chance to look like rock stars in front of their friends and make them envious of the cool place where they work. It’s more than just an ego boost for your team – it’s a quick pathway to greater employee engagement.