Available from Fox Lawson & Associates, a Division of GBS
Human resource managers must continually come up with new and powerful methods of employee recognition. This is a vital part of retaining quality employees. If recognition is not given on a regular basis for good work, then employees begin to become dissatisfied with their jobs and start to look for new places to work. Studies have shown that praise, motivational leadership and positive recognition are just as effective in retaining good staff members as monetary incentives. However, employee recognition is more than just a pat on the back. Employees need to feel that they are truly valued, not that they are merely getting the occasional "good job" thrown at them. Employee recognition must be meaningful.
Bonus pay and other means of special financial compensation are excellent ways to recognize good employees. Annual or quarterly award ceremonies where plaques and gift certificates are given to top performers are also good. Some employers hold "contests" when it comes to production, with the staff member who produces the most work in a specified amount of time getting a desirable reward, such as a paid day off or a sought-after material item, like a plasma television.