Have you ever wondered what are the benefits of employee engagement? What does appreciation mean to your bottom line? and business profit? Well, today’s article will go through the 5 benefits of employee appreciation.
However, I will preface this by adding that employee appreciation is not a solution to all business troubles. Nevertheless, to invest in a strong culture, appreciation is the number one tool. To highlight, appreciation achieves high employee engagement and satisfaction that lead to high-performing teams.
Let’s start with the basics.
First, employee appreciation is the act of showing value to employees. In particular, the acknowledgement of their work, attitude and behaviours. If you’re interested to learn more about employee appreciation, jump to this article first.
Next, here are five reasons appreciation is a direct benefit to your company.
Download the appreciation e-book, and discover the psychology behind high-performing teams.
Five reasons to add appreciation to your workforce
1. Employee retention.
Let’s take a step back, employee retention saves the company time, money and work talent. As such, ensure you invest time in your workforce to avoid high turnover.
Interestingly, the more appreciation a boss communicates, the more willing an employee is to undergo stressful tasks. Thus, employees remain in the company for longer.
For one thing, a study by Glassdoor found that 53% of employees would stay at a company longer if their employer showed interest and appreciation in their work. Significantly, that’s half a workforce! Enough reason to take appreciation seriously.
2. Employee productivity
Secondly, appreciation of small milestones motivates employees to work harder. Naturally, drive increases, which leads to an increase in productivity. Subsequently, a study by Gallup revealed that engaged business units have an 18% increase in productivity.
Just goes to show, kind words go a long way.
3. Employee satisfaction
Thirdly, when a manager gives direct feedback and appreciation, then the employee feels that their work is being valued. Undeniably, a manager has the power to give employees a heightened sense of worth and boost of confidence. Naturally, the innate desire to feel self-worth and satisfied with their employment choices and career development paths.
Simply put, Happy employees = a healthy and productive work environment.
4. Employee Profitability
Interestingly, what does appreciation have to do with profitability? Well interestingly, a study by Gallup revealed that engaged business units have a 21% increase in profitability. Naturally, happy employees are motivated to produce lead to higher profitability for the company.
5. Company culture.
Lastly, the culture of a company is vital. Moreover, apart from having a healthy culture, potential candidates also look into the company culture, to make sure it aligns with their own. Also, it’s important for employees to work in a company culture that nourishes their development, confidence and values their opinion.
In addition, employees want to work with teams that celebrate mutual successes. As such, the incorporation of an appreciation culture is key to ensure that values are followed and aligned.
Lastly, rewarding employees who demonstrate attitudes that are in line with company culture reinforces their repetition.
Altogether, here you have it folks! These are the 5 benefits to employee appreciation in your workplace.
- Company culture.
Are you looking to add more appreciation to your workplace dynamics? In this case, download our free ebook that holds over 16 applicable exercises and the science behind employee appreciation.
Can you think of more? Then, feel free to share them at #WeAreNais.