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As mentioned in our previous blog post, The 10 Best Ways to Successfully Reward and Recognize Employees, it is more important than ever to entice your employees with relevant rewards. With that being said, there are two takeaways from that tip.
It’s no secret that employee retention means something completely different today than it did 15 years ago. In the past, companies designed incentive programs that thanked their loyal employees for their 10, 15, 25+ years of dedicated. Today, longevity is a rarity.
More and more often, in today’s changing world, businesses are completely restructuring their incentive programs to thank their employees instantly – even after just one year of service. Companies are having to adapt to this trending workplace culture and new norms to keep their millennial generation employees engaged, fostering company loyalty and increasing retention.