When 82% of individuals “don’t think they’re recognized for their work as often as they deserve,” it makes sense that feeling under appreciated is the number one reason employees quit their job. When an employee does quit, it costs the employer 16-213% (based on seniority and niche) of their salary to replace them. This means the average $40,000 employee costs an employer $8,000 to replace.
On the flipside, we also know that having a value-based recognition program has a 68% positive impact on employee retention. Beyond that, “organizations with the most sophisticated recognition practices are 12 times more likely to have strong business outcomes.”
Reward, a blockchain-based incentive system that fosters value- driven, company-wide recognition and engagement through peer-to- peer networks.
REWARD aligns the interests of the employer and the employee in a dynamic new way. By giving peers the ability to recognize specific teams and team members, company-values and goodwill are exchanged while the employer can measure the interactions between teams and individual peers, monitor potential employee churn, and see how increased teamwork impacts the bottom line.
Attention. There is a risk that unverified members are not actually members of the team
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