There are many documented benefits to a highly engaged workforce including increased productivity, a more positive company culture, and perhaps most importantly: lower turnover. In this era when more people are exiting the workforce than ever, the competition for capable and dedicated employees is fierce.
Attracting and retaining key talent has always been a top concern for business leaders and it is especially so in these days of historically low unemployment. Without accurate intelligence, business leaders are tempted to throw cash at the retention problem. Cash is King, right? So why not use cash to reward employees? Because research shows that tangible rewards are far more effective than cash.
Topics: Employee Reward Programs, Non-cash Rewards, employee engagement, Employee Incentive Program, improve employee engagement, Incentives for Employees, Motivating Employees, tangible rewards, lower turnover