Celebrating Accomplishments to Promote Future Success is brought to you by Lorman
Learn the benefits of celebrating your people and the various types of employee recognition.
High employee turnover or churn is an expensive issue for any business. Estimates of the cost to fully replace employees, over and above salary, range towards $40,000, including the cost of advertising, recruiting, hiring, training, and loss of productivity outside annual salary. A pre-COVID-19 2017 study by Gallup followed up by OC Tanner reported 79% of employees who quit their jobs claim that a lack of appreciation was a major reason for leaving, with 65% of these employees claiming that they weren’t recognized one time by their managers or employers in the last year. And 60% say they are more motivated by recognition than money. This course will help leaders celebrate their people by giving them the recognition they’ve earned, showing genuine appreciation, and acknowledging the unique things people have to offer and do. By doing those things, they will see significantly better results in the future.