There’s no question that each and every one of your employees expects pay cheques for the services they perform for your company. But paying your employees is certainly not an act that is going to separate you from any other employer. Believe it or not, the majority of employees seek greater senses of fulfillment from their roles in the companies they work for. And, most often, that fulfillment is found in the appreciation shown them by their employers.
Saying “thank you” goes quite a long way!
Those two little words couldn’t be simpler to say. However, at some places of business, there seems to be a shortage. We’d argue that there is no easier or more effective way to enrich a company’s culture than to have an ample amount of “thank yous” spoken within its walls. Who doesn’t like to feel appreciated? And why wouldn’t you want to acknowledge jobs well done? When you make people feel good about working for you, they will work harder than ever.
“When you show your employees that you see and appreciate their efforts — and take the time to demonstrate how much of a measurable impact they’re having on your business and your corner of the world — those employees feel good about what they do and they take those feelings home with them,” writes William Craig on Forbes.com, “Oh, and another thing? Happy employees are on average 12 percent more productive than their less-happy counterparts. Sounds like a win-win.”
Acts of appreciation significantly lower employee turnover.
Not only are your happy employees bound to perform their tasks better, but they’re a lot more likely to stick with your company for the long haul. As most employers are well aware, there are few things that hurt a company’s bottom line more than excessive turnover. The process of having to refill roles left vacant by disgruntled employees who have quit their jobs is a long and pricey one. An improved company culture – one where acts of appreciation are abound – is one that significantly reduces its employee turnover rates.
As Shannon Vize explains on Mondo.com, “studies show that employees who feel valued and appreciated are more likely to rate their workplace positively, remain with the company longer, and help develop a culture of appreciation within the company. Given these results, you’d expect every company to implement an employee appreciation strategy, but that is typically not the case.”
What are the best ways to thank your employees?
A little public recognition never hurt anyone. Highlight your top performers at your morning meetings so that they can bask in the spotlight in front of your entire team. This will not only invigorate your honoured workers with pride and renewed enthusiasm but inspire his/her co-workers to achieve the same accolades. You can also acknowledge your employees in email newsletters.
Of course, not all recognition needs to be made publicly. A hand-written thank you card is both a sincere and personal way to show how much you appreciate your employee. Vize also suggests you sweeten the deal by offering a thank you reward. “You can easily show your appreciation for a great staff or specific department by offering them an afternoon off, a happy hour on you, or another gift or activity they will enjoy,” she suggests.
If you’re an employer who says “thank you”, you’ll enjoy a long list of job applications looking to work for you. For more expert ideas on how to thank your employees, please don’t hesitate to give Hire Value Inc. a call at 403-978-3827 today!