A recent survey conducted by Leger Marketing and HR Learning demonstrated that just about half of the participating entrepreneurs feel that harnessing competent staff is essential to growth and improvement of their businesses. In fact, notably, 21% of business managers understand that employee recognition and rewards programs should be given sufficient attention from their HR departments from this point forward.
A new trend facing Canadian small business owners, and most probably those in the United States, is one of increasing concern in regard to their efforts to recruit valuable employees. Part of the study’s results shows that these business owners, especially in these economic times, need to take steps to secure the ‘right’ new hires; employees who will help their companies move forward.
Taking initiative and launching employee recognition programs are strategies business owners believe will help entice the ‘right’ workers. These strategies should also work to improve employee loyalty and retention rates.
According to an officer at TECHNO Competences, the results of the study reveal that the majority of business owners are savvy in regard to succeeding with these newly proven business strategies. Joe Gagnon, the general manager, noted, “Developing innovative recruiting practices and retaining skilled employees is a strategic competitive advantage.”
Business owners across the borders should think about creating employee incentive programs as an offense move to create a staff that is willing and able to help them expand their entities.