Report: Recognition programs can be valuable tool for employee retention
With the improving economy, more people are finding jobs — including those who are finding new jobs – highlighting the importance of retention programs.
Losing valuable employees, and having to hire and train new ones to replace them, is a growing worry for human resource personnel, according to a report released this week by Globoforce. The company, which provides social recognition solutions for companies, is co-headquartered in Southborough and Dublin, Ireland.
The 2015 Employee Recognition Report says that the top three challenges faced by human resource personnel are turnover, employee engagement and succession planning, with turnover having risen to the top of the list compared with previous reports. Anxiety about recruitment was also high on the list of HR concerns.
The report, done in conjunction with the Society for Human Resource Management, is based on the replies of more than 800 human resource professionals in the U.S.
Many companies, the report says, “are able to point to recognition as an initiative or program that is yielding important, measurable results for them” in areas such as employee happiness and retention. Such programs are part of the enhanced corporate culture companies are increasingly seeking, the report says, and they tend to be the most effective when tied to a company’s values.
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