Let’s unlock the power of employee appreciation for your organisation…
As leaders, it’s crucial to acknowledge the value that employees bring to the table. In the fast-paced world of modern business, where targets and deadlines often take centre stage, it’s easy to overlook one of the most critical elements of a successful organisation; its people.
With companies that do not have an effective recognition program, finding turnover rates 31% higher than those that do. The power that employee appreciation can have, should not be undervalued.
Recognising and appreciating employee contributions is therefore not simply a nice gesture, but also a strategic investment in an organisation’s success.
In this blog, we’ll run though some of the great benefits that effective employee appreciation can have on a firm and provide insight into areas where you can start to implement change.
So, what are the benefits of employee appreciation?
– A culture built on appreciation sets the tone for your workplace. It ignites a positive work environment and fosters a strong sense of belonging. When appreciation becomes a part of your company’s DNA, it promotes the best human features in your people. These natural features make up your corporate culture far more than the 5 selected words displayed in the entrance lobby.
– Recognition goes beyond a pat on the back; it serves as a powerful catalyst for performance. When employees are acknowledged for their achievements, they are inspired to push their limits, unleash creativity, and strive for higher level results. Likewise, when employees witness their colleagues being acknowledged, they are inspired to raise their performance and seek recognition for their own accomplishments. Creating a flywheel of enhanced performance.
– Genuine recognition communicates that we value and appreciate employees’ unique skills and contributions. It builds trust, strengthens relationships, and enhances the employer to employee bond. These recognised employees are therefore more likely to align with an organisation’s mission, vision, and values, driving overall success and a company that can’t be easily side tracked from its goals!
– When employees feel appreciated and a sense of belonging, employee engagement skyrockets. Therefore, recognition acts as fuel for employee engagement. Engaged employees sit up and take notice, they preserve the company values, become brand advocates and strive for the best level of results.
– Recognition isn’t limited to individual accomplishments—it extends to the wider organisation. By acknowledging and celebrating team achievements in particular, we can nurture an ecosystem where everyone is invested in each other’s success. Therefore, by creating an environment where teams are rewarded, it means that creativity and collaboration flourishes.
– By recognising employee efforts, we create an environment where individuals are more likely to stay, thrive, and contribute their best over a longer period of time. Employee retention and loyalty soar, reducing turnover costs and preserving knowledge. With appreciation being a top reason for job switching, it’s a no brainer to invest in what can be an expensive issue for firms.
Now, let’s take a look at 12 opportunites to boost employee appreciation…
1. Verbal Recognition
A simple ‘thank you’ or ‘great job’ goes a long way. Express your appreciation through regular, sincere voiced recognition. Ensure that managers have a regular 1-1 touch base with employees, so that this doesn’t slip under the radar.
2. Written Recognition
Handwritten appreciation or personalised emails are a thoughtful way to show appreciation. Mention specific achievements and how they have contributed to organisation success, the wider team or to internal culture. There are also many online/app-based tools that can help to promote across company recognition, another powerful acknowledgement technique.
3. Outstanding Performance
If someone goes the extra mile or significantly exceeds targets, there is nothing worse than a silent response from leadership. Outstanding performers are what takes a business from good to great. It’s the perfect opportunity to send some appreciation their way! Have a range of rewards ready so that timely appreciation can be made, you can even give them a choice from a range of pre-approved options.
4. Culture Champions
Fostering the right culture is a big topic. One of the best methods is to acknowledge and reward those that exhibit the right set of values. Appreciating those that work towards the right culture, through rewards, shoutouts, gifts and awards, can go a long way in sustaining and building the right values in your organisation.
5. Professional Development
Invest in your employees’ growth by offering channels for training and development. Support them to attend workshops/webinars and conferences, related to their position or potential. It’s a great way to show that you really value someone’s personal growth and input to a business.
6. Team Events
Organise team lunches, outings, or celebrations to acknowledge collective accomplishments. Hold virtual events for those not in the office or situated across borders, to help to foster the feeling of belonging and appreciation. It’s important that remote workers remain ‘seen’ and are routinely acknowledged by the business to reduce any breakdown in connection.
7. Peer Recognition
Encourage employees to share appreciation with each other. Create a peer-to-peer recognition program where employees can nominate their colleagues for outstanding contributions. This extra method means that employees can be highlighted and recognised for their contributions, especially for those actions that might easily be missed by management level.
8. Milestone Awards
Rewarding employees for their loyalty is greatly powerful. Consider extra holidays, access to a heightened benefits package, unique experience days, sentimental awards and personalised gifts. 5, 10, 15, and 20+ milestones are the perfect opportunity to shine a light on employees and make their contributions known.
9. Personal Events
Showing generosity around personal events can really change the narrative for many firms. Major life events carry on continually around work-life and it would be naive to ignore the impact that they have on people both good and bad. It’s easy to celebrate personal events such as new baby arrivals, with a simple delivery that makes people feel appreciated and connected. Similarly, outstretching a hand at life’s most difficult times, also goes a long way to making employees feel seen.
10. Wellbeing Initiatives
Say I appreciate you and your wellbeing. Firms that consider wellbeing seriously, are ranking higher and higher in employee attraction. Especially as the shift to a younger and more wellness aware generation, enters the workforce. Having a human side to your employee appreciation, by running wellbeing campaigns, providing access to mindfulness apps, resilience training and health & wellbeing benefits, all contribute to employees feeling appreciated and cared for.
11. Yearly Occasions
Occasions such as, birthdays, work anniversaries and of course the festive season, are a prime opportunity to celebrate with employees and show your appreciation. As these occasions come around every year, leadership can invest knowing that every member of the business will be recognised in some way around these events each year, regardless of employee location or level.
12. Monetary Rewards
Finally, consider bonuses, profit-sharing, or achievement-based pay rises to link performance with financial appreciation. Appreciation and motivation for many, does come from a fair and frequent review of their compensation package. However, it isn’t the only route, and with more and more people citing culture fit and emotional appreciation as reasons for leaving, the package for employees needs to be a blend of all the above opportunites.
Truly the options and areas that you can make impact are vast and will vary from business to business. Our advice is to start small and select one or two areas to start implementing real change. Most importantly, give leadership and management the tools, training and investment to start shifting the organisational culture, to one that puts its employee appreciation at the forefront.
Spending time understanding your people goals and sourcing solutions to match is what we do best. Whether it’s end-of-year appreciation for your 10,000 staff globally or an exclusive rewards program for your top performers, we’ll create something unique for your people and most importantly one that matches your budget.
So, drop us over a message and we’ll help get your employee appreciation plans off the ground!
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Head this way to check out some more employee engagement ideas; like our awesome employee onboarding packs! Let’s Go.