Employee Experiences That Reignite Your Workforce
Companies are facing an exodus of employees who are exhausted and overwhelmed, questioning what work means, and thinking through their options. ‘The Great Resignation’ spurred a trend of mass resignation, with 3.9 million people per month that quit their jobs in 2021. Now, 74% of disengaged US employees are seeking new employment or looking for job openings.
Recognizing the value that your employees bring to the table is vital in attracting and retaining top talent. By leaving employees feeling valued, appreciated, and satisfied, work productivity increases, and a positive company culture is created.
69% of employees are considering recognition and rewards as the top factor for employee retainment. It’s no secret that feeling appreciated makes you feel more motivated – but why are companies still struggling to show appreciation in order to retain employees? Keep reading to learn about the benefits of employee appreciation programs.
What’s It Take to Attract and Retain Employees?
By showing value to your employees, they are less likely to experience burnout and leave the organization. Recognizing your employees’ achievements is valuable for engagement, lower absenteeism, greater mental health of employees, and higher productivity. The average cost of hiring and onboarding a new employee is nearly $5,000. Through employee appreciation, absenteeism can be reduced by up to 41%.
Culture is a key factor taken into consideration during a job search. 66% of people consider company culture to be the most important aspect in making an employment decision. Organizations with strong cultures tend to have 72% higher employee engagement rates compared to companies that lack culture.
What Are the Benefits of Employee Engagement?
Drive success in your organization with employee appreciation. Your employees shouldn’t feel like they have to go to work - they should feel inspired and motivated to be part of the company culture. Recognizing and highlighting employee achievements would boost employee morale and leave your workforce feeling energized.
Drives Engagement and Motivation
Recognition and engagement go hand in hand. Employee recognition programs show your employees that they are not only appreciated but highly valued. By recognizing your employees, engagement increases and, ultimately, improves business productivity by 31%.
Boost Performance and Productivity
Employee appreciation boosts productivity and performance. With 92% of workers being more likely to repeat a specific action after receiving recognition for it, employees that feel appreciated by their employers are more likely to perform better.
Build Stronger Relationships
Hosting employee appreciation events is another way to praise employees for their achievements. Being praised in front of colleagues can help boost self-esteem and motivation. When other employees see a colleague being recognized for their achievements, they may feel inspired to improve their productivity in order to receive recognition as well.
Whether employees are working in an office or remote, employers can host team building and networking events to better connect with the workforce. Team building events are helpful when building relationships between colleagues, managers, and executives.
Improve Mental Health and Well-Being
To enhance company culture, the health and well-being of employees must be considered. Investments in mental health and well-being are considered a crucial factor among younger generational employees with Gen-Z (66%) and Millennials (51%) favoring it more than Gen-X (41%) and Baby Boomers (31%).
Engaged employees are 3.2x more likely to be happy at work and 3.7x more likely to recommend working for the company.
Achieve Higher Retention Rates
59% of employees prefer companies with a rich recognition culture – rather than jobs with higher salaries that do not show appreciation. Employees that do not feel recognized for their achievements are more likely to leave an organization compared to employees that feel appreciated. With employee appreciation programs, organizations can increase employee retention and reduce turnover rates.
Employee Experiences Delivered Any Time, Any Place, Any Way
Bring your organization to life by creating memorable work experiences that drive employee engagement, and ultimately, improve productivity in the workplace. When your employees are happier, they are more likely to work more efficiently.
Whether your employees are working in the office, remote, or a hybrid of the two – our employee appreciation solution, CultivateEX, ignites your employees wherever they are.
Experience CultivateEX through the variety of programs we offer:
- Campaign Announcements
- Employee Rallies & Offsites
- Awards & Corporate Galas Pop Up Events
- Work-Life Balance Initiatives
- Custom Installations
- Recognition Programs
- Networking & Team Building
- Content Creation
Transform the way you lead by highlighting your employees’ achievements. Ready to reengage, reward, and reignite your workforce? Schedule an appointment to learn more about CultivateEX.