Employee Retention Rates: The 3 Ways Promotional Products Help Make Employees Stay

Even with the competitive job market these days, employee retention is still something that many companies struggle with. Getting a huge paycheck is no longer the endgame of employees. It will take so much more for them to stay, such as career growth opportunities, great company culture, and work-life balance.

If something’s wrong with the company, many people would not hesitate to leave immediately. Employers are now alarmed with the rise of the 90-day employees or new hires that resign within the first 90 days of a new job. This is an expensive trend for companies as it is reported that the cost to hire an employee now costs $23,860, rising from $10,500 in 2020, according to the 2022 HR Industry Benchmark Report.

A company’s brand is also strengthened by good employee retention rates. Employees make the best brand spokespersons, according to the 2018 Edelman Trust Barometer. Consumers look to the employees when forming opinions about a brand.

There is one secret to improving overall employee retention rate: giving away branded merchandise. Don’t believe us? Here are the latest findings from PPAI’s study, The Truth Is Always Trending.

Promotional products improve employee confidence in the company

Companies that utilize promotional products during their external and internal marketing strategies tend to have employees who “know what their employer stands for and what makes the brand different from competitors,” based on the 2018 Consumer Study of PPAI.

The employee confidence increases depending on the marketing strategy utilised by the company, according to the study. External marketing strategies reached 85% of votes, internal marketing strategies reached 90%, and employing both strategies at the same time gained a whopping 98% of votes.

Promotional products make employees proud of their employer regardless of job satisfaction

Internal branding strategies greatly benefit from promotional products. Findings reveal that 90 percent of employees are proud to represent their employers in public. However, it still depends on their job satisfaction. The level of pride correlates to their level of job satisfaction. Only half of the employees who have stated that they are “Very Dissatisfied” and “Slightly Dissatisfied” about the jobs have demonstrated their employee pride.

Promotional products make employees want to stay longer with a company

The study also revealed that 57% of employees are more likely to stay with companies that provide promotional products. This is mostly valid across all generations, with 59% of millennials and Generation X and 56% of Baby Boomer employees feeling strong loyalty to their employers.

Judging at a job level standpoint, higher level employees are more likely affected by promotional products than those in the lower ranks from entry-level to mid-level. C-level staff ranks the highest in the employee retention rates with 86% while the senior level and management level employees with 71% and 69% respectively.

While attrition is present within any company, there is a difference between the reasons as to why the employees are resigning. Employees who leave the company on a positive note are more likely to endorse the brand positively to potential hires than those who departed disgruntled.

Promotional Product Ideas to Boost Employee Retention Rates

New Hire Kits

The first 90 days of a new hire is a crucial point whether they will stay. Therefore, it is important for the staff to assimilate into the company culture and feel a sense of belongingness by welcoming them with a new hire kit! There are several ways you can build one. Learn how to design your new hire kit.

Employee Appreciation Kits

It doesn’t hurt to show appreciation to your employees after a job well done. After all, they’re an important part of your company’s success. Showing your appreciation also boosts morale and productivity, two key factors that signify high employee satisfaction.

Employee Holiday Gifts

Giving corporate gifts to your staff is the perfect way to cap off your company holiday parties. It doesn’t matter if you choose affordable and expensive ones, what matters is the appreciation and sense of belonging that the staff would feel after receiving these gifts.

If you are looking to build a better brand culture from the inside, order from our collection of high-quality promotional products for employee reward programs, recruitment drives, and other employee engagement initiatives. You can fill up our order form here to get top-notch referrals from our helpful Brandconnect Brand Guardians or you can contact us by phone at 02 8072 3350 or email at sales@brandconnect.com.au.