Your employees thrive on the work hard philosophy, and consistently help your business grow and thrive. Sure, a paycheck is a way of saying thanks, but it’s a mandatory way of doing so. Perhaps you want to go out of your way to show the people who work under you that you appreciate their help.
Expressing appreciation is crucial, as it improves employee performance and behooves your company. Studies show that the primary reason most Americans leave their job is a lack of appreciation, and that companies with effective appreciation tactics experience a 31% lower turnover rate.
It also contributes to positive attitudes, outcomes, and outlooks in the workplace. It boosts engagement and overall employee well-being. There are a number of simple yet meaningful ways to show your employees that you appreciate them.
When it comes to recognizing employees that have done a good job, recognize them all the way. Showcase your appreciation for a specific employee/department by bringing their achievements to light in front of everyone. Send out a mass email, post their photo/accomplishment on social media, or paste an announcement up on the bulletin board.
This will motivate other employees to work hard toward company goals too, by knowing they’ll be awarded for it publicly. Everyone lives for their 15 minutes of fame.
Tokens of Appreciation
Show your employees you appreciate them, and that you want them to remember your company, by gifting them a trinket. Having something engraved in gold or silver is a permanent reminder of that employee’s success. Show thanks by gifting your employees custom coins, charms, or keychains engraved with the company logo and the achievement in question.
Employees will hold onto this and look back on that achievement every time they pick up that trinket again. For employees celebrating major milestones (such as a 10 year anniversary, a record-breaking goal, etc.), consider an engraved watch.
Have a Luncheon
They say the way to the heart is through the stomach. And boy, are they right. If you’re celebrating a company-wide achievement and want to thank all of your employees, the best thing to do is have a catered lunch. Order in some delicious eats, gather everyone in the conference room, turn off the phones, and enjoy an afternoon of food and refreshments.
Furthermore, this gives employees a way to socialize and bond. Make it like a small in-office party, where everyone will have the opportunity to let loose a little and get to know each other better. This will definitely boost morale across the board.
Encourage & Reward Peer Recognition
Developing a peer recognition program is one of the best things you can do. Forbes states that employee happiness is 23.3% more related to co-worker connections than employee-to-manager connections. Further research indicates that peer-to-peer recognition is 35% more likely than managerial recognition in having a positive financial impact.
One way to implement this is to allow employees a way to “formally” compliment a fellow coworker, in the form of a note/email sent to management. Allow one compliment submission per employee, and state that employees that issue compliments will be entered in a raffle. Prizes don’t have to be big, and most employees will be happy to recognize their colleagues (especially knowing they could be recognized in return).
This will contribute to a more amicable and cooperative work environment too, with employees striving to help one another for a chance at being recognized for it.
Small Acts of Kindness
Never underestimate the value of even the smallest show of gratitude. A simple “thank you” goes a long way, and there are many low-cost and easy ways to supplement this. “Thank You” cards are an affordable and long-lasting way to express gratitude. Another great way is to buy your employees scratchers. These usually cost $1 each and the potential monetary rewards will certainly inspire them.
Another popular incentive is handing out simple $10 to $15 gift cards for Starbucks, Amazon, and other widely-frequented establishments/shopping websites. Ultimately, the most important thing is that you make efforts to acknowledge your employee’s efforts—whether you do so subtly, or with all the bells and whistles to boot.