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Most companies agree that it’s important to recognize employees’ hard work and dedication on a regular basis. By recognizing employee achievements and progress, companies can foster a stronger work environment where team members are more satisfied and loyal to the company. We’ll review a few of the top benefits of an employee recognition program.
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1- Lower Turnover Rates
High turnover rates are expensive and can affect productivity. In addition to the cost of recruiting and hiring new employees, companies will easily exceed training budgets with higher turnover rates.
Bersin & Associates Research conducted a study finding that
