Telling your employees “good job” can make you rich. Just ask Quintiles. Quintiles, a Fortune 500 company and the world’s largest provider of biopharmaceutical services, recently reduced turnover by 50 percent, which saved the company millions of dollars. How? They did a better job of telling their employees “good job.” Specifically, they made employee recognition a focus of their organization in the hopes of increasing morale and reducing turnover. They made a budget ofapproximately $100 per employee per year to spend on recognition, and it paid off in a big way. Despite having a budget, they didn’t really use cash rewards to …Read more »