This holiday season, do you plan to thank your employees by hosting an office party? When it comes to employee rewards, too many business owners/managers think a party and a paycheck is enough.
However, research indicates that if you aren’t rewarding and recognizing employees’ contributions 365 days of the year, your business’s profits are apt to suffer. Now, that’s a statement that’s sure to get the attention of even the most notorious Scrooge.
The proof that employee recognition matters isn’t in the Christmas pudding; it’s in examining how people drive profits. When employees are unmotivated, they are not productive. When they aren’t challenged, they leave. These common employee concerns have hidden costs that impact the bottom line.
ROI on Human Capital
Let’s look at what happens when an employee wastes just 15 minutes a day. In a 40 hour work week that’s 1.25 hours or 3.125 percent of a work week.