{"id":5008,"date":"2019-11-19T05:43:54","date_gmt":"2019-11-19T10:43:54","guid":{"rendered":"https:\/\/www.successories.com\/blog\/?p=5008"},"modified":"2019-12-16T18:00:41","modified_gmt":"2019-12-16T23:00:41","slug":"improving-employee-satisfaction-retention-and-productivity-part-one-of-two","status":"publish","type":"post","link":"https:\/\/www.successories.com\/blog\/improving-employee-satisfaction-retention-and-productivity-part-one-of-two\/","title":{"rendered":"Improving Employee Satisfaction, Retention, and Productivity"},"content":{"rendered":"\n

Study after study has shown that when employers take the time to recognize the achievements<\/a> of their employees, they are rewarded with impressive productivity gains, improved employee satisfaction and higher retention rates.\u00a0 <\/p>\n\n\n\n

Improved Employee Satisfaction and Higher Retention Rates. <\/h2>\n\n\n\n

All of those things directly improve your company\u2019s bottom\nline.  If that\u2019s something you\u2019re\ninterested in, and let\u2019s face it, what business owner isn\u2019t, then you\u2019ll find\nthese two articles extremely helpful. \nLet\u2019s take a closer look at things you can do, starting today, that will\nbegin to fundamentally change the culture of your company.<\/p>\n\n\n\n

Get Buy In From Both Your Management Team And Your\nEmployees<\/strong><\/h3>\n\n\n\n

Don\u2019t just show up for work one day and announce a new\nrecognition program.  If you want it to\nbe maximally effective, you\u2019re going to need the help and support of your management\nteam to make it work, and you\u2019re going to need your employees excited about\nit.  <\/p>\n\n\n\n

Call a meeting, or a series of smaller, more focused\nmeetings and talk to different groups of employees about what you want to\ndo.  Solicit their ideas, get their feedback\nand allow them to help guide the shape and direction that the program\nultimately takes.  In short, don\u2019t design\nthe program in a vacuum.  Also, set a\nbudget but give them wide latitude in selecting the specific gifts and awards<\/a>\nto hand out.<\/p>\n\n\n\n

Peer To Peer Recognition<\/strong><\/h3>\n\n\n\n

It\u2019s natural that you want to keep control of at least part\nof the recognition process, but it\u2019s equally important to give your employees\nbuy in.  Set some basic parameters and\nthen allow your employees to select who the star performers are at every\nrecognition interval.  It could be\nmonthly or quarterly; that part doesn\u2019t matter nearly as much as consistency\nand giving your employees a say as to whom they choose to elevate for\nrecognition in each period.<\/p>\n\n\n\n

Give your team a budget to buy awards, gifts and other means\nof recognition.  If you, or they are\nstruggling to come up with gift ideas, this<\/a>\nis a great place to begin!<\/p>\n\n\n\n

Be Sure To Incorporate Years Of Service Recognition Into\nThe Design Of Your Program<\/strong><\/h3>\n\n\n\n

This is one piece of the puzzle you can keep for yourself.\u00a0 In addition to recognizing the star performers your recognition committee selects, be sure to reward your employees for years of hard work and faithful service to your cause.\u00a0 A good place to start is to be sure to recognize<\/a> employees for 1, 3, 5, 10, 15 and 20-years of service but of course, you can add to this if you wish.<\/p>\n\n\n\n

Create An Anonymous Feedback System<\/strong><\/h3>\n\n\n\n

In addition to getting feedback and buy in from employees at\nall levels regarding the creation of your recognition program, it\u2019s also a\ngreat idea to set up an anonymous feedback system that allows employees at all\nlevels to give comments and feedback about any aspect of the operation of your\nfirm.<\/p>\n\n\n\n

When you do this, treat any incoming feedback you get\nseriously.  Pay attention to it.  An anonymous system gives people the freedom\nto be frank and honest with you in ways that they may not be able to do face to\nface.  You don\u2019t necessarily have to act\non every scrap of feedback you get, but all of it is invaluable and provides a\nglimpse under the hood at the beating heart of your operation that\u2019s just\nimpossible to get by any other means.<\/p>\n\n\n\n

This, of course, is just the tip of the recognition iceberg.\u00a0 In the next article, we\u2019ll provide you with more hard hitting ideas!<\/p>\n\n\n\n

Understand The Key Drivers Of Employee Retention<\/strong><\/h3>\n\n\n\n

There have been numerous studies over the years that have\nzeroed in on the elements employees regard as essential to job satisfaction and\na lack of job satisfaction is, of course, one of the main reasons employees\nmove on to greener pastures.  Knowing\nwhat those elements are and playing to them is essential to reducing employee\nturnover.  If you don\u2019t know them\nalready, they are:<\/p>\n\n\n\n

  1. An employee\u2019s relationship with his or her\nmanager<\/li>
  2. The number of promotional opportunities inside\nyour firm, and the potential for professional growth and development<\/li>
  3. And a respect of work\/life balance<\/li><\/ol>\n\n\n\n

    If you don\u2019t promote from within, if you\u2019re employees don\u2019t\nfeel that you\u2019re approachable, and you don\u2019t respect your employee\u2019s home life\nor give them the means of professional growth, then you can\u2019t expect your\nemployees to stick by you in the long term. \nIt\u2019s just that simple.  Gifts\nand awards<\/a> are a great start, but they\u2019ll only take you so far.<\/p>\n\n\n\n

    It\u2019s Not Always All About The Money<\/strong><\/h3>\n\n\n\n

    There have been numerous studies on this topic as well, and\nthe simple truth is that money is a relatively poor means increasing employee\nproductivity.  Sure, up to a certain\npoint, money matters, but once an employee is making enough that all his or her\nbasic needs are met, throwing more money at them generally won\u2019t make them more\nproductive.<\/p>\n\n\n\n

    What does work though, are things like greater autonomy in\nthe workplace, more opportunities for professional development and ongoing rewards and\nrecognition<\/a> that have nothing to do with cash.  If all you\u2019re doing is throwing money at the\nproblem, your recognition program isn\u2019t going to be as effective as it could\nbe.  You\u2019ve got to think outside the box.<\/p>\n\n\n\n

    Choose Your Own Gift Card<\/strong><\/h3>\n\n\n\n

    If you are interested in enhancing a gift or award<\/a>\nwith a bit of cash, a great way to do so is to implement a \u2018choose your own\ngift card\u2019 element to your program.  Have\nhalf a dozen or so options available and when an employee is recognized, let\nhim or her pick the gift card he wants, rather than just handing out something\nthat might never get used.<\/p>\n\n\n\n

    Understand That Recognition Is Not Entitlement<\/strong><\/h3>\n\n\n\n

    This is something you\u2019ll want to be mindful of as you launch\nand manage the program.  You want to be\nsure to stress to your employees and to your recognition committee that recognition<\/a>\nand entitlement aren\u2019t at all the same thing. \nRecognition is given based on the parameters you set forth.  Just because your employees think they\u2019ve\nbeen doing a great job, if they haven\u2019t met your recognition requirements, then\nthey can\u2019t expect to be rewarded.<\/p>\n\n\n\n

    These are all powerful ideas that will not only improve the\nchances that your recognition program will ultimately succeed, they\u2019ll also\nwork to quietly transform your company\u2019s culture in the very best ways and your\nemployees will reward you accordingly.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Study after study has shown that when employers take the time to recognize the achievements of their employees, they are rewarded with impressive productivity gains, improved employee satisfaction and higher retention rates.\u00a0 Improved Employee Satisfaction and Higher Retention Rates. All of those things directly improve your company\u2019s bottom line.  If that\u2019s something you\u2019re interested in, […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[656],"tags":[796,935,857,787],"class_list":["post-5008","post","type-post","status-publish","format-standard","hentry","category-employee-recognition-2","tag-796","tag-935","tag-857","tag-787"],"yoast_head":"\nImproving Employee Satisfaction, Retention, and Productivity<\/title>\n<meta name=\"description\" content=\"Recognizing the achievements of their employees, companies are rewarded with increased productivity, improved employee satisfaction & higher retention rates.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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