About 65 percent of the people in one survey reported that they received no recognition over the last 12 months for their work.In the same report, 89 percent of employers feel that most employees leave their companies to earn more money. Spending money on routine company gift cards isn’t the same as offering personalised and specific praise based on an employee’s performance. If you can reward a person based on his or her interests, then the recognition has more meaning. MORE

millennial or Gen Y employee switches jobs four times in the first decade after college graduation. At the current pace of job growth, if sustained, this problem is set to get much worse. What that means is that companies must now work harder to entice workers through pay raises, training and other incentives. Analysts say organizations are now looking at their workplace cultures with critical eyes and adding in perks both monetary and non-monetary. MORE

There, employees are given fancy gifts, allowed to spend time in lavish resting rooms, and receive huge bonuses every time a special occasion arises. But it doesn’t take a huge budget to build employee appreciation ideas. Whether you’re running a law firm where you need to celebrate trial wins or you’re running a winter coat shop where employees try to meet sales objectives, it’s critical to institute little ways for people to be recognized. MORE

A popular holiday for the final vacation of the summer, but also a great opportunity to promote – or debut – your reward and recognition programs. Understanding the formula for successful employee recognition programs. MORE

Too often in human history, this meant that people with less power were simply compelled to work, and incentives — if they existed — consisted merely of being allowed to survive. The Central Challenge of Giving Incentives. Stats That Prove the Value of Incentives. MORE

One of the common questions I hear from clients centers on how well their people practices and budgets compare to industry benchmarks and groups of top-performers. Follow Derek on Twitter at @DerekIrvine MORE

They’ve become so ingrained in the corporate psyche that we predict at least 85% of businesses will still be conducting them in 2025—even if it’s just to do them. In many systems, managers can simply pick their rating for each employee from a drop-down list. MORE