Friday, March 6th is National Employee Appreciation Day.
Did you know that the cost to replace a salaried employee is anywhere from 6-9 months of their annual salary, according to the Society for Human Resource Management? For executive level employees, the cost is way higher, and can go up to 213% of annual salary. According to a study by Forbes, one of the main reasons employees resign is that they feel unappreciated. As many of you know from first-hand experience, it is not easy to find qualified talent. Smart business leaders are cultivating an organizational culture that values its employees and focuses on ways to improve “the employee experience”. What better time than National Employee Appreciation Day to show your employees how much they mean to you and your organization? Showing appreciation to your team is a great way to increase employee engagement and productivity, spark enthusiasm, show employees you value their efforts, and, perhaps most importantly, decrease costly turnover. Even if the company you work for does not recognize this holiday, you can still take a couple of extra moments to remind your employees and colleagues how much you value and appreciate them. You'd be surprised how far a well-timed, thoughtful and specific word of praise or appreciation can go. And, the good news is that it doesn't have to cost a lot of money (or any) to do it. Here are some ideas:
Look an employee in the eye and thank them for a job well done. Provide as much specific detail as possible and let them know how it ties into the strategic goals of the organization.
Send an email thanking someone for their hard work.
Write a hand-written note thanking someone for their efforts. This personal touch can go a very long way.
Let a colleague from a different department know how much you appreciate their teamwork and collaboration.
Create an appreciation bulletin board for your team at the office or on-line.
Set aside time in your next meeting to provide recognition or appreciation and invite others to join you.
Invest in their success. Provide professional development training or coaching.
Spend a little extra one-on-one time with members of your team to discuss the impact of their work and their individual aspirations and career goals.
Ask for their feedback. Listening to their suggestions and input is a wonderful way to show that you value them.
Treat your team to lunch. Pizza parties are always a big hit.
Give employees some extra time off (even letting them go an hour or two early can have an impact).
Be transparent - if you hold a senior role in your organization, be sure to share what you can as often as you can. Keeping employees in the loop goes a long way towards making them feel valued.
Schedule some fun activities outside of work (start a company team, cooking classes, company bowling team, dinner or BBQ, etc.)
Start a new company or departmental tradition.
Celebrate milestones at the company.
Ask them for ideas on what kinds of employee appreciation programs they would like to see.
Showing your appreciation to your employees will go a long way in boosting morale, teamwork, productivity and engagement. And, it will help you save money by reducing costly employee turnover. We encourage you to give one (or more) of these ideas a try and would love to hear how it goes.
Source: Society for Human Resource Management: “Placing Dollar Costs on Turnover”, 2018
Written By:
Janine Friedman
Executive Coach
Owner, Choice Training and Coaching Solutions
“Empowerment begins when people realize they have a choice.”
Janine Friedman is the owner of Choice Training and Coaching Solutions, Inc. Launched in 2013, its mission is to inspire and empower individuals to live their best lives. Janine possesses a complementary blend of experience in human resources, Employee Assistance Programs (EAP), corporate upskilling and coaching, and women’s empowerment.
Developing leaders for over 24 years, Janine’s customized system of coaching is tailored to each client’s specific personality, background and needs. She is an engaging and inspirational speaker, conducting training programs that are both educational and memorable. She excels at delivering her message with enthusiasm and clarity, resulting in better learning and deeper understanding.
Janine is passionate about supporting women who are struggling to achieve success in the workplace and in life. She is able to provide the tools necessary to help women develop competence and confidence as well as explore behaviors that may be holding them back.