If you have attended an HR tech conference or if you follow HR influencers, then you know that the technology used to interact with employees and manage data is evolving faster than many organizations can keep up.
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Employee turnover is an even bigger topic in 2020, due to record low unemployment, than it was in 2018 when we produced the first edition of this report. Retaining employees has become one of the highest priorities for CEOs and HR leaders today. In many sectors, employee retention is now a critical factor in determining and maintaining a competitive advantage.
Our latest Trendicators Survey Report, Why Do Employees Leave?, reveals that 46% of American workers are “seriously thinking about leaving their organizations within the next 12 months.”
Exit interviews are standard fare at many organizations. Whether you find them helpful or you dread them, you understand that the purpose is to glean useful feedback from departing employees about ways your company can improve. The exit interview is an important tool for gathering insights that people might otherwise be hesitant to share. After all, a departing employee has no reason not to be completely honest with you.
But what if you could glean those same vital insights before an employee is ready to walk out the door? That’s the power of stay conversations.
What do employees want most when it comes to recognizing their day-to-day contributions in the workplace? How do the recognition programs of employers align with these preferences? These are among the topics explored in this review of 2020 Employee Recognition Trends.
The Employee Recognition Gap
While recognition and incentive program owners are optimistic, with many projecting budget increases for the coming year, long-standing disparities remain between employee preferences and workplace realities.
