It’s a feeling that anyone who has had a job knows. You put a tremendous amount of work and effort into a task or project for your boss, only for him/her to accept it with no mention or show of gratitude for your hard work.
The flip side also holds true though. After all the hours or even days of work you pour into a project, the feeling of walking out of your boss’s office beaming with pride after he/she praised you for your excellent work is incredible. You feel valued, important, and straight up unstoppable. Clearly, this is the attitude that employers should look to cultivate among their employees, and here’s why:
1.) Employee recognition is the catalyst of employee productivity. According to MJ Management Solutions, 69% of employees say they would work harder if they were better recognized, and 49% would leave their current jobs if a new job offered a more appreciative environment. These are statistics that cannot be ignored, and they point quite frankly to the notion that employee recognition fuels productivity and hard work.
2.) The confidence and boost in productivity associated with employee recognition is contagious. According to Lewis University, many employers work to ensure the success of their staff by praise and recognition, and think this positive mindset spreads throughout the workforce. As Forbes points out, positivity in the workplace breeds employees who much better than those who feel forgotten or unappreciated.
3.) Employee recognition decreases turnover. According to the HR Council, employees who feel appreciated are more likely to stay with the organization. The Huffington Post has an interesting article that illustrates that losing an employee who earns $60,000 could cost the company $45,000 to hire and train a replacement. Consider this in the case of a large company with many people leaving due to a negative work environment, and how much money could be saved if a more appreciative environment was created. It is very cheap, even free, to create a more positive environment, so without one, you’re basically throwing money away.
4.) Employee recognition and appreciation also increases the competitiveness of a company’s future applicant pool. In today’s digital age, there are multiple websites and forums available in which prospective employees can research the work environment at a specific company. Naturally, people will gravitate towards working at a positive, appreciative place rather than a negative, impersonal one. Thus, promoting this type of environment will generate more interest in working at your firm, and will improve the quality of the applicant pool at all levels. Down the line, this can lead exponentially lead to more and more benefits for the company.
5.) More positive workplaces also, on average, have lower healthcare costs. The Harvard Business Review claims that healthcare costs at higher pressure workplaces are 50% higher than other workplaces. The same article points to statistics that show that disengaged employees had 37% more missed days of work, 49% more physical accidents, and 60% more errors in their work. These increased costs are avoidable, however. By cultivating a more positive and appreciative work environment, companies will have happier and healthier employees, which equates to lower healthcare costs for the company. Again, why are you throwing your money away unnecessarily?
Beginning to cultivate this environment is not a massive undertaking either. Maybe it’s as simple as recognizing employees for their hardworking at meetings, or including a shout-out to a well performing employee in a team email. Or it could be genuinely thanking an employee for the time and effort they spent working on a task. Whatever method is used, breeding positivity can have incredible benefits in a workplace.