How do you retain your employees when turnover is at an all-time high? A little recognition goes a long way...
It’s cuffing season. In dating lingo, that refers to the stretch of time from late October to early February when people just want to hunker down with a special human instead of playing the field. We’re called indoors by the cold and the bad-but-tempting holiday movie marathons that keep us unwittingly planted on the couch all weekend. Committing to one thing is more tempting than switching channels.
Good question. Well, the same cuffing season logic usually applies to job-hunters. People tend to stay in their jobs during the holidays. They don’t want to look for new work (and they’re unlikely to find it) as the year draws to an end and our inboxes fill with clever OOO auto-replies. For employers, that means that turnover tends to happen once the new year is cracking, in late January and beyond.
But as you may have noticed, things are looking a little different out there these days. For one, we’re in the midst of a Great Resignation. 1 in 4 people have quit their jobs this year, many from total pandemic burnout. According to CNBC, the vast majority were not young professionals with decades of their careers ahead of them—they were experienced employees with 5-15 years of tenure at their companies, whose internal knowledge and expertise will be tough if not impossible to replace.
This raises the question for all employers: How do you retain your employees when turnover is at an all-time high? Can you count on your team sticking around through the spring (or even making it through the winter) when they’re wiped out from the past 18 months?
It might seem obvious, but feeling appreciated makes employees want to stay in their jobs longer. Survey Monkey found that 82% of employees are happier at work when they’re publicly recognized for their commitment and accomplishments. If your love language is Words of Affirmation, you get it. Being seen and celebrated matters. It makes you want to show up with more energy and motivation.
But it’s not just about feel-good energy. Employee happiness leads to higher employee retention rates and reduces turnover. In that same study, 63% of people who said they were “always” or “usually” recognized at work also said that they would be “very unlikely” to look for a new job in the next 3-6 months.
On the other hand, 43% of people who felt continually unrecognized said they were “extremely likely” to seek another job in the near future. Long story short, going out of you way to show your employees some love can make a serious difference to your bottom line.
So… how do you actually do it?
As the holidays creep in, it’s more important than ever to be thinking hard about how you celebrate the people who keep the lights on. Is it with the old Starbucks gift card and company-branded coffee mug? (Please god no.) Is it with a special holiday party? (Maybe, but COVID…) Or is it with an engaging employee recognition campaign that allows employees to nominate each other for awards, submit videos showering each other with compliments, and then vote on the winners?!
Yeah, that one!
Hearing positive feedback goes a long way, especially from your peers. Remember the love languages bit we just talked about? Well, Bonusly and Survey Money actually asked employees to report on their favorite “languages of appreciation” at work. The top two were (unsurprisingly) Gifts and Words of Affirmation. And do we have some good news for you... An employee recognition campaign speaks to both.
By using employee generated content (EGC), you cut down on the legwork for HR and give your employees the chance recognize each other publicly—and to listen to all the kind words their coworkers have to say about them. This creates camaraderie and strengthens the bonds that might have weakened throughout the pandemic. And THEN you can actually reward the winners with tangible gifts on top of celebrating them.
Capsule’s EGC video technology makes it super simple to create an engaging employee recognition campaign. You can set up your Capsule (the dedicated landing page where videos are uploaded and upvoted), create award categories, and then invite your employees to participate. It’s practically a set-it-and-forget-it method for celebrating your team that does wonders for employee morale.
Take Nike’s awesome employee awards program as an example. Their team created awards based around the company core values. They then invited employees to nominate each other for the awards. Employees chimed in, submitting videos recognizing each other, and then upvoted the videos they vibed with most. Nike then shared this video with the award-winners, so they could hear all their co-workers gushing about how great they are.
This type of employee recognition is highly accessible and fun for everyone involved. It gives employees the ooey-gooey feeling of being seen and affirmed in public and it draws their attention to all the hard work of the people around them. Plus, it makes it a whole lot easier for employers to show their team recognition in a way that doesn’t feel cheap or contrived. It’s thoughtful. It’s fun. It’s great. 10/10 recommend it.
The more we shift to online connection, the more seamless it is to use channels like video to recreate the IRL experiences we’re missing out on—holiday parties, water cooler chatter, and just, like, standing within six feet of another human whose company you enjoy. Employee-generated video is a beautifully accessible, low-cost way to boost morale and make your employees feel connected and appreciated.
If you’re interested in giving it a shot, you can sign up for a free 14-day trial of Capsule. You’ll get to build your own landing page, test out the features, and watch how awesome it looks in action. We can’t wait to see what you come up with.