Praise keeps workers
WHY do people leave their jobs? Thirty-four percent of executives cited a lack of praise and recognition as the No. 1 reason, according to a survey of 150 executives from the nation's 1,000 largest companies.
Surprisingly, executives ranked praise and recognition above compensation, limited authority, and personality conflicts as reasons why employees leave a company.
``Companies that believe money is an employee's sole motivation for working are destined to lose some of their best people,'' says Bob Half, founder of Robert Half International, an international staffing services firm, which developed the study.
``Praising accomplishments provides psychological rewards that are critical to satisfaction in any professional setting,'' he says.
``Managers should combine informal rewards, such as verbal praise or hand-written notes, with a more structured system such as performance-based bonuses or an internal awards program.''