Companies that score among the top 20% of “best employee recognition” companies have a 31% lower rate of voluntary departures. (Growth Engineering)

Recommendations

Reward your employees for actions that best represent the organizational culture you are looking for. A culture rich in recognition will also reduce fluctuation, giving your organizational culture longevity.

Quick win ideas for an action plan:

Reward employees according to their contribution, publicly praise them and show that you value their contribution. Prizes can be financial or non-financial (time off, weekend travel, additional vacation days, etc.)

Strategic initiative ideas:

Establish strategic reward policies.