How Recognition Goes a Long Way in Retaining Talent on Your Team
October 28, 2023 In today’s business environment, recognition is essential for retaining your top talent. It’s also one of the most effective things you can do to spur your team’s productivity.
Recognition is some form of celebrating an employee’s contributions on behalf of your family business. Family businesses can recognize their team members for many different things – birthdays and work anniversaries, achieving and/or exceeding goals, coming up with new ideas, going above and beyond expectations for their roles, doing the critical behind-the-scenes work to support the team, taking initiative, and so much more.
In a recent blog post on Ferguson-Alliance.com, business adviser Brandi Marek notes that the important thing about recognition is to make it personal and meaningful. Recognition is a genuine and specific acknowledgement of “I see you. When you did this, I was really impressed.”
Recognition is for everyone, Marek says – from your CEO to your support staff, recognition matters. And it should be given equitably. Sometimes it’s easy to recognize your superstars and harder to praise the quieter or more “invisible” members of your team who often are holding everything together and making it possible for your superstars to shine.
A recent survey from Great Place to Work showed that, when employees feel that everyone has an equal chance of being recognized for their efforts, they are more than twice as likely to go above and beyond their typical job duties.
Learn more in Marek’s original post here.
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