According to the U.S. Department of Labor, the number one reason people leave their jobs is lack of appreciation.
>> 54% of organizations involuntarily lost high-performing employees during the first half of 2010.
>> 88% of employees surveyed cite lack of acknowledgement as their top work issue.
These figures speak to the challenge of talent retention and employee engagement, illustrating that a troubling percentage of employees who feel undervalued move on to what they hope will be greener pastures.
But what of the productivity of those that remain Discretionary effort is directly linked to feeling valued. If you believe that your efforts matter, then you will be less likely to leave and more likely to invest greater effort into the job. Companies with above-average employee commitment exhibit above-average revenue growth 71% of the time.
—Source: TemboSocial and HumanResourcesiQ.com whitepaper can be downloaded at www.humanresourcesiq.com/talent-management/white-papers/social-recognition-programs-why-they-matter/