Employee Engagement Best Practices Lead to Increased Employee Retention and Economic Growth
- Author Rob Purdy
- Published July 15, 2012
- Word count 624
In lean economic times, organizations are seeking cost effective strategies to continue to grow. More organizations are adopting employee recognition programs that foster employee engagement to encourage innovation and creativity that will add value and lead to growth.
The global recession led many organizations to downsize their workforces. An era of cost cutting has left many organizations rebuilding their workforces and focusing on ways to re-energize and engage those employees that endured the hard times which in many cases meant taking on more duties as companies adjusted their labor pool. Top CEO's around the world have indicated that in the coming year they will be placing more emphasis on employee retention and improving employee engagement in the workplace.
Organizations who have downsized have consistently asked their employees to do more with less. These employees develop broader knowledge of the organization and have greater potential to innovate and create growth. Ensuring that these key contributors are engaged is vital to an organizations rate of employee retention. Providers of employee recognition programs who help organizations to adopt strategic use of effective employee recognition programs enable their clients to energize their employees which ignites economic growth.
Employee recognition programs providers have become increasingly in demand because they enable organizations to develop employee recognition programs that consider employee engagement best practices leading to increased employee engagement and employee retention.
It is time to break out the old "Employee Suggestion Box" which today is an integral part of every on-line recognition application.
In a recovering economy, competition for customers and human capital can be fierce while highly educated, younger workers seek more than money when considering employment. Compensation, benefits, recognition and rewards are all important to support the lifestyle and work preferences that today's employees demand. Furthermore, organizations that reward employees based on defined goals will create a "recognition culture" that will help to attract new employees while improving their organizations competitive advantage.
Our own company has an extensive "employee recognition" program that includes generous point referral bonuses, a monthly innovation award as well as a "Looking Beyond" award that encourages employees to think outside the box by making suggestions that will either save money, drive new business or help retain our core clients.
What we also see is that a compelling employee recognition system helps to create a true "Buzz" about your organization while truly does help to attract the very best human capital and executing your recognition program well will definitely keep them highly engaged.
Adopting an employee recognition program that rewards employees for innovation consistently and equitably is one of the most effective "employee engagement best practices". Employee recognition programs providers who offer a "software as a service" ("SaaS") based on-demand, web-based solution are more competitive in today's marketplace because they enable organizations to easily take advantage of employee engagement best practices applied by leading organizations cost effectively. On-demand web-based applications that facilitate employee recognition programs are scalable and capable of growing with an organization's changing needs. Web-based recognition systems can be readily available so that organizations benefit without complicated, costly customization and the low cost of ownership that these systems provide. Employee recognition program providers who don't yet offer this technology stand to reap great benefit from partnering with a technology partner so they can offer the level of technology that today's organizations require.
In changing economic times, organizations can continue to experience growth, even with a reduced workforce, cost effectively. By optimizing the investment in human capital through employee recognition programs that support employee engagement and retention, a culture of innovation that connects employees to the organization's goals will increase profitability. An on-demand, web-based employee recognition system provides access to employee engagement best practices to maximize the impact of rewards to support economic growth.
Rob Purdy is the founder and CEO of Carlton Group and Global Rewards Solutions, a full service performance improvement company that specializes in bringing their clients leading edge solutions that help to improve employee performance, inspire loyalty with employees, customers and channel partners, as well as assist in building their brand and driving profit.
Contact Information:
Rob Purdy @ Carlton Group
Online www.carlton.ca
Email: rpurdy@carlton.ca
Phone: 905-477-3971
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Unlocking Efficiency: How Payroll Outsourcing Can Save You Time and Money
- Unveiling the BCG Growth-Share Matrix: A Strategic Tool for Portfolio Analysis
- Project Managers & Stakeholders: Channels of Communication
- Closed Cell Insulation: Your Ultimate Guide
- Leading A Successful Project In A Turbulent Time
- Project Planning
- A Manager's Perspective - Dynamics of the private education industry
- Permanent or Temporary Staffing: Which One Is Right for Your Business?
- Crafting Corporate Culture: Empowering Teams for Success and Fostering Diversity through Strategic Partnerships
- Elevate Business Operations in the UAE | Connect Resources Your Trusted Employer of Record Partner
- Thinking Outside the Box: How Divergent Thinking Boosts Creativity
- The Ultimate Guide to Launching Your Dream Glamping Business
- The Impact of Agile Leadership on Team Enhancement
- Top Strategies for Boosting Your Construction Team's Performance
- Elevating Corporate Success through Relationship Asset Management (RAM): The Chief Relationship Officer's Vital Role
- 5 Strategies for Becoming an Inspiring Leader
- Are you a Leader—or a Dinosaur?
- Networking—Basic things to know
- Lessons from a Farmer
- Think like an Entrepreneur
- Maximising ROI at Your Next Corporate Event
- Hiring Your Leadership Team: The Best Traits for the Best Employee Experience
- Reqi: Your Ultimate Requirements Management Tool
- Hiring Insights and Tips from a COO with a Psychoanalytic Mindset
- Micromanagement Stifles Creativity and Growth
- TIKTOK INFLUENCER MARKETING
- Innovate or Stagnate: Why Business Model Transformation is Non-Negotiable.
- Creating a successful Trade show in 2023
- Air Lift Performance: Elevating Your Driving Experience with Air Suspension
- Disaster Recovery Plan for Tornado