Thousands of US employers ranked employee retention as their No. 1 operational and HR priorities in 2023.1 But retaining employees doesn't happen without a conscious effort. Many factors count, from career growth opportunities to compensation — and recognition for contributions. While rewards and recognition may not be leading indicators for keeping talent from leaving, data shows these acknowledgments matter. A quick look at how other employers approach this important aspect of the employee experience can provide insight into potential improvements.
Retaining Employees Through Recognition
Recognition for contributions ranked as one of the top 5 retention drivers for 2023.2
Have either implemented structured employee recognition programs or are considering them.3
4 ways organizations are recognizing employee performance
Thirty-eight percent (38%) of employers recognize superior performance.1 Many also rely on guidance from supporting polices to make effective decisions.3
Make it meaningful
How rewards and recognition are delivered affect how they're received. About a quarter to a third find that employees show an especially positive response to five methods.3
Get leadership involved
Most organizations provide best-practice training to help leaders recognize employee contributions in ways that matter the most. Consistency promotes inclusive and equitable approaches.
1"2023 Workforce Trends Report Series: Career Wellbeing," Gallagher, Aug 2023.
2"Employee Experience and Engagement Trends," Gallagher, Apr 2023.
3"Organizational Wellbeing Poll: Company Culture and Trust, and Employee Awards and Recognition," Gallagher, May 2023.
4"Organizational Wellbeing Poll: Social Connectedness, Performance and Health," Gallagher. Unpublished internal data.
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