In short, the US labor force is going through a significant generational change, with new attitudes towards work and preferences for recognition beginning to influence your ability to retain top performers. While cost control and cost reduction are of primary strategic concern right now, companies that focus on recognition and retention as a critical corporate competency will have a clear competitive advantage in the years ahead.
The Platform to Support any Recognition and Retention Strategy
Every employee wants to be successful in their job, enjoy their work, and be rewarded for top performance. However, different generations prefer managerial direction to be provided in different ways, and want to be recognized in different ways. Understanding this can help you retain critical top performers. Does your recognition and retention strategy take these things into account? Do you have a recognition and retention strategy? Even if you have a strategy, it’s just words without the tools and technology to implement it.
Maximize the Return on Investments You’ve Already Made in Talent and Technology
PerformanceLink is a critical enabling technology that allows you to implement a proactive recognition and retention strategy easily and measurably, while reducing administrative costs and overhead. It is an integrated, flexible framework that centralizes and automates all of your recognition programs and information. Developed in response to a client’s need to automate the business process behind their employee recognition program, it solves real challenges.
According to Deloitte’s 2010 Top Five Total Rewards Survey, 51% of employers indicated improving the measurement of return on investment of reward programs as an area of emphasis over the next 12 months. PerformanceLink helps you overcome an inefficient and fragmented HR delivery model, allowing you to deliver value to your employees and ultimately your stakeholders through performance improvement.