Business Insider published an article last week on The Importance of Employee Recognition, especially in small businesses. According to the article, small business owners need to provide their employees with adequate appreciation and recognition for a job well done if they want to keep talented individuals from seeking new employment.
Says author Rieva Lesonsky: Not convinced that recognizing your employees’ efforts is directly related to their satisfaction? Check out this data:
- Just 23 percent of employees who have been recognized at work say they plan to search for a new job when the economy improves, compared to 51 percent of those who have never been recognized.
- A vast majority—89 percent—of those who have been recognized feel appreciated at their job, compared to 17 percent of those never recognized.
- Most—76 percent—of those who have been recognized by their employers love their jobs, compared to 37 percent of those who haven’t been.
The good news for small businesses: you don’t have to have a huge budget or thousands of employees to benefit from an organized employee recognition program. Talk to Terryberry to learn about employee recognition solutions designed just for small businesses.
Try Terryberry’s free 30 day trial of the GiveAWow peer recognition platform, scalable for businesses of all sizes.