Even With Lay-offs in This Down Economy, Employee Recognition is Up

Hi All,
Did you know that when a company executes a round of lay-offs, they see a drastic increase in employees who survived the lay off leave for new jobs?? The surviving employees get “paranoid” that they will be next so they start looking for new employment.
So, if you think your multigenerational workforce will stay “no matter what” because of the current job climate, you could be very wrong. Employee recognition is still critical for retaining your top talent and improving morale at work. Even in a down job market, good people still get recruited.
I came across this recent blog post that addresses this, written by an employee recognition expert whom I know, Cindy Ventrice. And, btw, for those of you who are managers and executives seeking ways to provide your employees with recognition strategies that work, I strongly recommend following Cindy’s blog and/or picking up her book, Make Their Day! Employee Recognition That Works.
Okay, back to the topic. According to Cindy’s blog post, even in this down economy, employee recognition is up. Here’s what she has to say about this:
A recent CareerBuilderSurvey found that while companies are cutting down on perks, benefits, travel and incentives, employee recognition is actually up!
It seems that the benefits of sound recognition programs are understood in most organizations. They know that the returns of good recognition far outweigh the costs.
Want to reap some of those returns? Forget about expensive appreciation events and awards for now. Focus on recognition between individuals.
Manager-driven programs produce the best results so teach managers how to build meaningful recognition into their overburdened schedules without causing additional hardship.
Second to manager-driven recognition is peer-driven recognition. Set up simple peer awards with little or no monetary component so that they don’t require a lot of oversight.
Create programs that drive your most important business initiatives. This helps morale and produces the results you really need right now.
Pay attention to Cindy’s valuable advice. Your employees are your most valuable asset…so let them know!!
Oh, and did you know Boomers require and desire as much recognition as Millennials at work? It’s true…so spread your recognition around to employees of ALL ages!
Bye for now.
Article by Lisa Orrell, Millennial & Generation Relations Expert and courtesy of Lisa’s Generation Relations Blog

Originally posted by Candice A