The end of February sees the jobs market continuing to be tight, though some soft spots are starting to show (hiring has moderated somewhat, and wage growth is high but cooling). It’s not enough, however, for the Federal Reserve to discontinue the cadence of interest rate hikes.
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Many CHROs ask how a recognition strategy would affect their organization. Putting a plan in place requires a lot of work and effort, but does it make a difference in the employee experience? According to our 2022 Job Seeker Survey Report*, 20% of employees seek employment elsewhere due to a lack of recognition, appreciation and respect. To help you decide whether your organization needs one, we’ve shared why we believe it is important in greater detail.
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Darren Findley, President of Engage2Excel Recruitment Solutions, has a unique perspective on today’s job market based on three decades of recruiting experience across all major industry sectors. He shared the following key statistics* in our last Trendicators Report, along with insights on trends and how to optimize recruiting for 2023:
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If there is one thing that will improve the effectiveness of recognition in your organization, it’s undoubtedly giving recognition to people more often. Put the following practices into place, so you can increase the number of times recognition happens in your organization:
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