With Thanksgiving and the close of 2014 quickly approaching, now is a great time to thank your staff. Showing appreciation for their hard work can take many forms – whether it is a surprise gesture, verbal recognition or through something of monetary value. Not only is gratitude a nice gesture, it can also help boost the bottom line of your business. More than 75 percent of employees said they would work harder if their contributions were recognized, according to a study conducted by Globoforce. Companies with engaged workers also have six percent higher net profit margins (Towers Perrin research) and five times higher shareholder returns (Kenexa research).
We all know that not every business has the option to provide monetary incentives to their employees, so here a few ideas that go beyond dollars.
Make it Personal A simple thank-you note can go a long way. This time, go the extra mile and arrange for a company executive to write a hand-written card or recommendation on LinkedIn. If an employee had a challenging week, signed on new clients or received praise from a customer, a “thank you” from company leadership will recognize and reinforce their hard work. Looking for another personal touch? Ask a high-achieving employee to select a charity that they care about, and then direct the company’s charitable donations or volunteer efforts toward that organization for a period of time.
Leader on-Loan The gift of time with company leaders is priceless. Offer to buy an employee coffee or simply take a walk to learn about how they successfully completed a project. Or if you’re out of the office either taking time off or traveling for business, lend out your office for a day or two. Your employee who sits in a common area will appreciate the privacy and view that comes with the premium space.
Organizational Change How do you serve a lasting thank-you to your deserving employees? A long-term change in the workplace may be the answer. This could come in the form of allowing staff to bring their dogs to work, implementing shorter hours during slow months or instating a monthly employee recognition lunch. The trick is to think about what perks your employees would truly appreciate. Communicated right, these benefits could even incentivize new employee prospects to join your team.
What do all of these methods have in common? They convey messages like, “we care about you,” “we trust you,” “you’re valuable too,” and “we’re all in this together.”
A little goes a long way. So go ahead, show your staff you appreciate their efforts by shaking things up this holiday season.