As the summer has once again flown by and the kids are heading back to school, it’s time for all of us involved in HR to get off the beach and head back to work and focus on engaging our employees again.
Believe it or not, there are still many organizations that use gold or gold filled pins and dangles in their Years of Service Recognition Programs. As I type, the price of gold is going up and up. If your organization uses a program that includes logo pins or dangles, your prices are going to go through the roof and your budgets will be significantly impacted.
Imagine this, you have 175 employees and the turnover is almost doesn’t exist. Amazing right? Let’s go further.
Your company has over 400,000 members and has no direct competition. Getting even better right? Your HR manager admits…“We’re not going to lose customers because of poor service, since our members have nowhere else to go.”
According to a recent release of data, over three-quarters of departing employees would not recommend their employer.In today’s social media environment and ability to tweak poor experiences with companies, these stats are not good news for recruiters who rely on its company reputation to help drive hiring.
Some companies have strategic reward systems for employees and they usually address four key areas: Benefits, Compensation, Appreciate and Recognition.The most challenges I run into when discussing these reward systems is that most companies are missing a few of these elements; which is usually recognition and appreciation and ensuring they elements are tied to the company’s corporate strategies.
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