One of the primary reasons employees quit is because they don’t feel valuable. HR often considered employee appreciation as a soft concept, but it’s estimated that 66% of disgruntled workers won’t stay past their first year if they’re underappreciated. To keep your employees happy and protect your bottom line, it’s essential to celebrate your workers’ achievements.
Celebrating Your Employees: The How’s and Why’s
Your employees work hard for your company, but without receiving kudos from their co-workers or managers, they won’t know where they stand. Start doing the following to reduce turnover.
Celebrate Special Occasions
Your employees’ morale and productivity will increase significantly if you start celebrating special occasions, like work anniversaries or birthdays, with the team. It’s better to praise all employees in front of an audience, as it boosts their self-esteem. In fact, Harvard found that 40% of American’s would put more energy into their work if they were recognized more often.
Surprise Them With a Token of Appreciation
Don’t just wait for a special occasion to praise your employees! Feel free to send flowers to your workers, write them a note, created an employee discount scheme, or give them a bonus when you notice an improvement in their numbers. Monetary rewards will show you value their hard work, while gifts simply make employees feel seen. If you don’t know what to buy an employee, offer to pay for their lunch.
Create an Employee Recognition Wall
Whether you use an online employee recognition software or the traditional recognition wall, your workers will love to see their own ideas or achievements displayed where everyone can see them. You can set up a board in the main foyer, the break room, or scheduled meeting place. Recognition walls will inspire others to keep doing better or challenge newer employees.
“Creating an environment of healthy competition often inspires employees to give it their all and progress their careers further,” comments James Durr of UK quick homebuying firm Property Solvers.
Why Employee Recognition is so Important
Employees want to feel that their co-workers and managers hold them in high esteem, and the best way to do this is to acknowledge them. Once you do, your business will benefit.
Recognized Employees are Happier
Most of your employees take their work home with them, and oftentimes, those negative feelings are released on their family and friends, causing more stress. A happier office life translates into a peaceful home life and an overall heightened quality of life. While acknowledgment does improve happiness, it also promotes collaboration, increases productivity, and enhances loyalty.
Improves Employee Retention
Some estimates say that the cost of replacing an employee can be as high as $40,000, including recruitment fees, advertising, and the time it takes to train staff. Employers can’t just hire someone and expect them to stay grateful; they must assure their employees that they’re valuable. Incentive programs will keep employees engaged, which makes it likely they’ll stay.
Boosts Workplace Morale
Management leadership has a significant impact on employee morale. If employees feel pitted against one another or scrounging for your attention, it creates a hostile environment. Teamwork and cooperation will suffer, but if each employee is treated fairly and given the recognition they deserve, that won’t happen. An improved company culture will boost morale.
Even a simple “hello” from management means a lot to your employees, so always smile, wave, or acknowledge them when you cross paths. Trust us; it means more to them than you know.
Employees who aren’t recognized will eventually stop trying to impress their superiors. However, if they are recognized for their hard work, you’ll cultivate a culture based on self-improvement. Provide your team with opportunities to learn, and recognize any boost in performance. Any improvement should be treated as an event because it shows they care.
Send an email each week that compares individual stats for each employee from weeks prior. This way, employees won’t feel like they’re pressured to compete against their co-workers.