How Appreciating Your Staff is a Win-Win for All

How Appreciating Your Staff is a Win-Win for All Everyone likes to be appreciated and nowhere more so than in the work place. Today (March 3rd) is Employee Appreciation Day, and while you may snigger or roll your eyes at the thought of such a day existing, surely it cant be a bad thing. Now there is the argument that you shouldnt just appreciate your staff just one day a year, a bit like the case for loved-up couples on Valentines Day. Surely if you appreciate someone you should tell them whenever they deserve the praise not  just on one day a year. But why is it important in the workplace? A recent survey by OC Tanner  found that  employees who received recognition at least one time in the past 12 months saw marked improvements in several areas compared to employees who didnt receive any recognition. Why should you  appreciate your employees Drive engagement Disengaged employees costs the economy $300 billion a year. Thats a fact. And you can boost your employee engagement by showing appreciation. Employee engagement is not just about happy employees, although it does help if you have a happy workforce. You may have heard the saying a happy wife means a happy life well the same can be said of your employees. A happy workforce in terms of engagement can have an effect on the amount of energy, effort, and passion employees bring to their work. And that’s important to bottom-line success. Retain talent Now this goes without saying. If you appreciate your employee and let them know just how much you appreciate them then the chances are they will stay committed to your company. They are unlikely to go elsewhere, or worse still to your biggest competitor. If they talk about how much they are appreciated at work then theres a good chance this will also help to attract new top talent to your company. Here are 5 ways to retain your top talent  as well as showing them appreciation. Increase trust Trust is the main driver that makes a company a great place to work. But the American Psychological Association reports 1 in 4 workers don’t trust their employers. Trust can be anything from past interactions with their company, whether they feel like things are done fairly and transparently, and openness in communication. It can even be measured by whether their values are consistent with the company’s values, how reliable the company is, and their perceptions of their company’s motives. The bottom line is trust is the expectation that workers can count on and rely on the company they are working for. How can you appreciate your employees? Just saying thank you Yep its as easy that. Be it face to face, in an email or in a staff meeting, just saying a simple thank you goes a long way to make an employee feel appreciated. The best thing about using this method of appreciation is its completely free. It doesnt cost you anything to say a simple thank you, but the rewards your company will reap by this small gesture is priceless. Gift vouchers Who doesnt like a bit of retail therapy? Whether you  want to shop till they drop or get your hands on that new must-have gadget, offering your employee gift vouchers as a way of showing your appreciation can go a long way. Some companies have things like employee of the month rewards where one employee is singled out for the great work theyve done and are often rewarded with high street vouchers or gift cards. Sometimes actually giving something as well as saying thank you goes a long way in making an employee feel appreciated. Caroline Stokes, founder of FORWARD, says: It’s important to acknowledge and recognize good work in the moment. Not once a year. Not just during review time. Maybe once a week if it warrants it, or even once a day can accelerate engagement and growth. For example, if you see that your employee or peer is consistently contributing strong ideas to the team, you can publicly acknowledge it in a meeting, or in a 1-2-1 with a ‘I have noticed in many meetings that you consistently bring strong ideas to the table and it makes a difference in moving the team forward with challenging issues. I want to take this moment to thank you for this, as it’s made a difference to our performance as a team The reason why many companies, bosses or colleagues don’t do that is counter-productive and counterintuitive. People get down in the weeds too often and focus only on problems, which can lead to burnout or a desire to work in a place that could scratch the itch of feeling fulfilled elsewhere. Employee appreciation can go a long way in making your business a success or a failure on many levels. So if you havent done it for a while or, in some cases, not at all, then what are you waiting for? Let your employee know theyre appreciated. Here is an infographic OC Tanner have put together from their survey results.