hrtechoutlook

the Great Resignation: Reducing Employee Turnover through Reward and Recognition

HR Tech Outlook | Wednesday, November 10, 2021

FREMONT, CA: With a talent shortage affecting practically every business in Australia and New Zealand, now is the moment to address employee attrition. While the 'Great Resignation,' as witnessed in other countries, may be upon us that does not imply your employees will instantly jump ship. Instead, a lack of recognition, involvement, and leadership capability are more likely to drive them to seek out new chances. As a result, now is an excellent time to implement a more streamlined and planned approach to reward and recognition.

Attendees of a forthcoming webinar hosted by HRD and Reward Gateway will learn more about successful reward and recognition strategies as well as the must-haves employees seek in today's employment market. 

Employees are expecting more from their employers in terms of how they are supported on a daily basis, with a focus on R&R right up there in employee ‘must-haves,' tied with even flexible working, so employers must put in place a program that will get their people excited and support them in the ways that matter most in their employees' everyday lives, so employers must put in place a program that will get their people excited and support them in the ways that matter most in their employees' everyday lives. Timing, visibility, relevance, disappointing rewards, awards that are too generic, low uptake and a lack of support are all common sources of discontent.

So, what can HR executives do to get over some of these roadblocks?

It's all about putting the company's principles at the centre of employee appreciation and using programs to bring culture to life - whether employees are at work or at home. Teach your staff how to deliver strategic recognition using methods and tactics that are specific to you and your employees, so that every moment of recognition connects your people and your business. Employees should be able to get appreciation regardless of where they work, so that it becomes a part of their daily routine. Finally, use data to highlight team and individual accomplishments while also driving your overall reward and recognition plan to identify areas where you can improve.

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