Retaining and keeping your top performers motivated is never just about the money. Often it comes down to the recognition they receive and the rewards they can aspire to beyond the bonuses.
Staff engagement surveys regularly reveal that employees believe non-monetary forms of recognition are a strong motivation to stay with their current employer.
From personal experience, I always found that my teams were far more driven to achieve if they knew there was an afternoon of sailing coming their way if they made budget, or that a day off or weekend away were up for grabs for ‘outstanding achievement’.
One thing most people need is recognition that they are doing a good job. Non-existent feedback breeds negativity and lethargy. We need to know we are appreciated for what we do and, when we are, we are more likely to try harder.
Our friends at Ajilon have come up with an awesome infographic with some great tips on how to improve your staff retention strategy.