Why "Thank you" goes such a long way in retaining

I’m sure you’ve heard the term “people leave managers, not companies”? Global studies reveal that 79% of people quit their jobs due to a lack of appreciation.

The statistics are even more shocking when you realise that to make someone feel valued in their role costs virtually nothing. Educating leaders around the understanding of appreciation, and how this can impact an organisational culture is a very important factor. Without educating our leaders around appreciation, the percentage of employee turnover will continue to increase. High employee turnover undoubtedly has a negative impact on the business, so what are some easy ways to start to educate people.

How can we show “Appreciation" in the workplace?

Appreciation is recognising the meaning, value, or quality of things people do. Appreciation in the workplace plays a vital role in establishing a positive working culture and creating stronger relationships between management and employees.

It has been revealed that appreciation is the key factor to employees being motivated, productive and committed to their roles. When an employee is appreciated, their job satisfaction levels increase, thus their productivity levels improve. When job satisfaction is high, an employee is more likely to be actively engaged with the workplace and aligned with the company’s purpose and values, helping to prevent employees from looking at greener pastures elsewhere.

So why should we show appreciation?

Well, there are plenty of reasons why:

High productivity and engagement levels: Employees thrive on knowing that their contribution is appreciated and recognised. When employees feel this way, they are genuinely motivated and dedicated to improving performance, and achieving greater results.
Workplace culture: If an employee feels appreciated, they will naturally show appreciation to fellow team members. Actively Engaged employees are more likely to go beyond their role, bettering the workplace, culture, and company as a whole which equates in establishing a positive working culture that everyone wants to be a part of.
Employee retention: Aside from the finding that 79% of employees leave their jobs due to a lack of appreciation, many employees find more job satisfaction in receiving appreciation and recognition, versus remuneration increases. This shows that if companies are seeking greater employee retention, appreciation must be present. It’s a no brainer! The hypothalamus, an area of the brain is affected by appreciation and recognition. This part of the brain directly impacts the way we eat and sleep. Now, when positively impacted, it can increase a person’s wellness, better sleeping habits, increased metabolism and lessens stress. Appreciation is much more than a “thank you”, not only will you boost employee performance, and drive a positive working culture, you will also boost an employee’s health and wellbeing.

How do we show appreciation?

Appreciation should be a daily occurrence, and by no means does it have to be bells and whistles. A simple “thank you” goes a long way, or even speaking with your employees about their career and personal aspirations. Here are some examples of other ways we can show appreciation in the workplace.

Saying thank you
Acknowledging an employee’s contribution to a specific task
Learn your employees’ interests
An employee of the month recognition
Celebrate birthdays, and work anniversaries
Surprise your employees with small meaningful gifts
Company-wide email appreciation messages
Treat them to lunch
Personal development opportunities
End of financial quarter parties
Allow extra time at lunch or an earlier finish

Appreciation can be overlooked in the working day. 61% of Managers have not received management level training. With many managers rising through the ranks for excelling at their roles, it’s important to remember the soft skills which are so important in managing and leading a successful team. Providing support and training to ensure our managers are equipped and empowered to support others on their journey within the company is paramount. Let’s not continue the rhetoric of “It’s their job to achieve these tasks, why should I say thank you?”, instead create a culture of appreciation and reap the rewards of a positive work environment.

Appreciation is one of the core values that hold long-term and successful companies together. It’s a value that helps a company grow and be powerful. So, let’s educate our Managers, and leaders around appreciation, and show employees that. they are valued and cared for.

If you are seeking a new role or looking for team members to help bring a positive influence to your team, please get in touch here.