It can be frustrating as a manager when your best talent walks out the door and you're forced to begin looking for someone to replace him or her.
It also can be expensive -- the Society for Human Resource Management estimates the average cost-per-hire is $4,100 and it takes 42 days to fill a position.
While many employers try to attract and retain workers by having beer pong on Fridays and offering everything from nap rooms to free cookies in the break room, a new study may shed some light on what employees and job candidates really want.
Not the kind of appreciation that comes in the form of a spa day or a bonus, but the kind that comes straight from a manager's mouth: "Thank you."
A recent Appirio survey found:
- 60% of respondents say when considering a job offer, the most important thing is knowing whether the staff feel appreciated by management. Only 4% ranked knowing how often employees were evaluated for pay raises as the most important.
- 55% value receiving a "thank you" from their managers for a job well done on a project. Only 8% say they would be disappointed if the same project didn't bring them a cash reward.
So, if you're worried about losing talented staff members to the competition, try saying "thank you" more often. It could just be it will become the biggest retention tool you have -- as well as the most enticing recruitment message you can offer.