Retaining Top Performers Through Recognition Programs-Retaining Top Performers Through Recognition Programs Recording

Video Transcription

Video Summary

In the webinar "Retaining Top Performers through Recognition Programs," June Jewell, a CPA and expert in architecture and engineering (A&E) business success, discusses strategies to improve employee retention post-COVID-19. Drawing on 30 years of experience and recent insights, she emphasizes that retaining employees is crucial for firm profitability and growth. Jewell notes that many firms lack formal recognition programs, despite evidence showing that effective recognition reduces voluntary turnover by 31% and strongly motivates performance.<br /><br />Key reasons for employee departures include burnout, mental health struggles, preferences for remote or flexible work, insufficient pay, career changes, and shifting life priorities. She stresses the importance of paying employees adequately as a baseline for retention. Jewell advocates for varied, sincere, and timely recognition approaches tailored to individual preferences—ranging from verbal praise, spot bonuses, peer recognition, and creative rewards like extra time off or small tokens.<br /><br />The program should be intentional, well-communicated, consistent, and integrated into firm culture to boost engagement, teamwork, and client satisfaction, ultimately enhancing profits. Monthly or quarterly feedback and bonuses are preferable to annual reviews, which are often ineffective. Measuring success through retention rates, engagement surveys, and client satisfaction is vital.<br /><br />Jewell encourages firms to develop clear career paths, especially for younger employees craving frequent feedback and future opportunities. She also highlights that fostering a culture of appreciation positively influences recruitment and helps reduce costly turnover. For further resources, participants can download her book "Find the Lost Dollars" and contact her for consulting support.

Keywords

employee retention

recognition programs

top performers

COVID-19 impact

employee burnout

mental health

remote work

employee engagement

career development

firm profitability