August 2020

Harness the power of employee recognition to retain talent

Hopefully, the current health crisis will soon be behind us, and business owners will be able to focus on restoring their businesses to full operation. Now, with so many employees working remotely, it’s more important than ever to keep the talent you worked so hard to recruit. Even though we’re going through a challenging time, let your employees know that you value and appreciate them.

A little appreciation goes a long way

So what can small business owners do to keep their employees happy? Don’t overlook the value of recognition. It can be a simple, inexpensive way to make your employees feel valued and appreciated by your organization, so they want to continue doing a great job.

Lack of recognition is one of the main reasons why people leave their jobs. According to research by Gallup, only one in three workers in the U.S. strongly agree that they received recognition or praise for doing good work in the past seven days.1 And employees who do not feel adequately recognized are twice as likely to say they'll quit in the next year.1

Recognition can take many forms: small cash bonuses, a written commendation, a comp day, a free lunch or just a sincere “Thanks for all your hard work.” Start by defining the type of conduct that deserves recognition. Here are some examples:

Girl drinking coffee while a photo is being taken of her
  • Proposing process improvements
  • Taking on a high–profile initiative
  • Developing a strong marketing concept
  • Strengthening customer relationships
  • Organizing morale–building activities
Woman with a coffee cup waving to a camera that's streaming to her customers online

It stands to reason that when employees feel appreciated by their employer, they are more satisfied. And that can have a positive impact on productivity and collaboration. Make it your goal to create a workplace culture where people feel comfortable expressing their appreciation to one another for a job well done.

A note from your Small Business Specialist: To discuss your business goals, set aside some time for a telephone call.

MAP3188464 | 08/2020


1 Gallup. (2017). State of the American workplace report. Page 106. Retrieved from gallup.com/workplace/238085/state-american-workplacereport-2017.aspx.