Three Rs of Employee Retention

Respect is esteem, special regard, or particular consideration given to people. As
the pyramid shows, respect is the foundation of keeping your employees.
Recognition and rewards will have little effect if you don’t respect employees.

Recognition is defined as “special notice or attention” and “the act of perceiving
clearly.” Many problems with retention and morale occur because management is
not paying attention to people’s needs and reactions.

Rewards are the extra perks you offer beyond the basics of respect and
recognition that make it worth people’s while to work hard, to care, to go beyond
the call of duty. While rewards represent the smallest portion of the retention
equation, they are still an important one.

You determine the precise methods you choose to implement the three Rs, but in
general, respect should be the largest component of your efforts. Without it,
recognition and rewards seem hollow and have little effect—or they have negative
effects. The magic truly is in the mix of the three.

Rewards
Recognition
Respect

When you implement the “three Rs” approach, you will reduce turnover and
enjoy the following:

Increased productivity

Reduced absenteeism

A more pleasant work environment (for both employees and you!)

Improved profits

Furthermore, an employer who implements the three Rs will create a hard-toleave
workplace, one known as having more to offer employees than other
employers. You become a hard-to-leave workplace—one with a waiting list of
applicants for any position that becomes available—purposefully, one day at a
time.