The Power of Appreciation
Thought leading organisations around the world understand the value of passionate employees and what they bring to their business. They appreciate the correlation between passionate and engaged employees, and brand value and corporate performance.
Passionate employees are proven to take fewer sick days, stay longer, are more productive and deliver greater customer/guest experience.
We know from many studies that implementing a Culture of Appreciation that recognises employee contributions by giving real time positive feedback has an impact on employee engagement and corporate performance.
However, in a recent survey, only 16% of employees questioned said their manager appreciated their contribution through positive feedback while 20% claimed that feeling undervalued was hindering their engagement at work.
In organisations with little positive feedback there is a proven correlation between these low levels of recognition and high employee turnover, and many employees claim the main reason for leaving their employer was because their manger did not recognise their contribution.
Implementing a Culture of Appreciation with positive feedback is not difficult, and does not need to be expensive but it needs to be thoroughly thought through, and should contain the following 5 features to maximise return on investment and retain talent.
They are:
- Recognition and positive feedback should be given regularly.
- Recognition should be shared with everyone in the organisation.
- Recognition should occur as close to the time a behaviour was observed for maximum impact. The longer you leave it the less it will be valued.
- Recognition should clearly relate to the behaviour observed.
- Values based or tied to key behaviours. Recognition should be related to activities that are in line with your corporate values and vision and should be clearly defined.
Today more than ever, employees want to feel included, appreciated, respected and valued, and part of the corporate vision, whether they are office based, work from home, or work in a hybrid situation.
If you don’t value your employees your competitors certainly will, so make sure you have a strategy in place to value your people. After all, they are your ONLY competitive advantage.
Tony Delaney, CEO Brownie Points Software Pty Ltd
