Managing Employee Retention Through Recognition

In an effort to respond to labor market challenges and to take a proactive approach to employee retention, a Fortune 500 wireless communications company conducted a study consisting of three surveys and consequently implemented a recognition initiative. Three different samples were surveyed, with the goal of identifying predictors of turnover and factors affecting an employee's intention to leave or stay with the company. One of the key findings from the preliminary data showed that consistent employee recognition was rated very highly among employees as a factor influencing retention. This is consistent with industry research, which also identifies recognition as a key factor in retaining top-performing workers. These important findings, coupled with the human resources department's strategic goals, generated actions to increase employee recognition. Those actions included improving tools and opportunities for employee recognition, as well as educating managers. [PDF Download]