What are you doing to show appreciation for your employees – that you value and care about them? Thanksgiving is the season of gratitude, and it’s just around the corner. Studies show that when employees feel valued through a formal appreciation process, it leads to some valuable benefits.
Increased employee retention
A lack of praise was among the top five reasons people gave for unhappiness at work, as reported by a Woohoo Inc. study. The good news here is that genuine appreciation goes a long way toward keeping your employees loyal.
Increased productivity
When you tell or show an employee that you appreciate their work and effort, it’s going to increase the repetition of that behavior, boosting productivity in the process. If you recognize them publicly, it’s also going to motivate others to follow suit so they have a shot at earning that same recognition.
Happier clients
Employees who feel valued have a vested interest in the company, feel a stronger bond toward the organization’s mission and vision, and will work harder to ensure it succeeds. Not only can they act as brand ambassadors for you, attracting new customers, but will also go the extra mile to build relationships and provide better service to existing clients or customers.
Offering praise is a simple, effective and low-budget way to thank your employees and show them that you recognize their work and value their effort. Just make sure that it’s both timely and specific.
If you want to offer a reward in addition to praise when an employee goes out of their way, make sure it’s personalized to them and has meaning. For instance, a worker with a young family at home might appreciate an extra vacation day. Likewise, a sports fanatic would love tickets to the next big game. These mean a lot more than boilerplate gifts.
Peer-to-peer recognition programs are being adopted quickly by leading companies such as Google. At Google, they decided to do more than just reward a single employee every month. Within their peer-to-peer recognition program, any Googler who is nominated for their work by a peer receives a small bonus. This additional recognition helps more Google employees feel appreciated and valued, even if they don’t win a “big award.”
There are many benefits to showing appreciation for your employees,, not just at Thanksgiving, but all through the year. Learning how your employees prefer to be appreciated can help you decide on which types of employee recognition to incorporate regularly into the workplace.
Aim2Assist is here at your service to help with all your administrative needs. You can learn more about our services and monthly plans here. 