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Employee Retention Strategies Go Beyond Competitive Salaries

HR Digest

Employees who have the option of disconnecting from work to do something they enjoy , whether that is spending time with family or traveling, can come back to work with a more relaxed and optimistic mindset. Recognition and Rewards A common presence in the list of employee retention examples is the mention of employee appreciation.

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The importance of employee recognition

Interact-Intranet

Traditionally, these programs have focused on the easier to define and measure metrics, such as length of service or reaching of internal milestones. Source: Globoforce. Organizations have also successfully authorized micro rewards such as ‘hour-off’ certificates or early finishes to distribute at their discretion.

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Employee Recognition Statistics: What HR Professionals Need to Know in 2024

Terryberry

Companies with strategic recognition programs are 48% more likely to report high employee retention rates. Globoforce) Highly engaged teams have a 40% lower turnover rate compared to disengaged employees and teams. Verbal recognition from a manager in front of peers is preferred by 37% of employees.