How keeping a bootstrapped team led to our company’s profitability, and what our Chief Appreciation Officer, Gary Willmott, is up to next.
Gone are the days where success is measured through the amount of hours and money being made by companies, but rather on how happy their employees are at the company and how long they are willing to work in that environment.
Consequently this brings us back to why appreciation (or recognition) is needed in the workplace and how your company can benefit from this.
According to Great Place to Work, recognition/appreciation is defined as helping employees see that their company values them and their contributions to the success of their team and the company overall. However, according to Harvard Business Review this can only be achieved when given recognition from the top.
This is why many organizations have set up programs that allow peers to highlight each other’s efforts (similar to Hi5), but the major forms of recognition (promotions, raises etc.) usually are given by senior leaders.
By getting the recognition through these programs, employers can feel that not only they are being recognized by their own co-workers, but, when their senior leaders are looking for people to promote, they can actually look at all of their highlights and truly see how valuable they are to the company.
One of the Forbes research studies has shown 3 major reasons as to why and how recognition can benefit not only the company but the employee individually.
A lot of people take their work frustrations back home and, therefore, when there is peace, gratitude and appreciation shown at work, it is reciprocated back home — creating a better atmosphere for the employer overall and, in addition, creating fewer obstacles for the employer to struggle with.
Implying when employers realized that they are recognized and valued, they, in return, trust their leaders.
This, in return, not only builds more trust amongst the employers, but also in the company that they work for.
Consequently, they want to work more, build loyalty towards their co-workers, work ethic and the company in general, wanting to give back to the company which has invested so much into them.
Stop wasting money on recruiting new employers because your old ones keep on leaving you but rather invest in them. It will save you a whole lot of money and the ROI is much higher.
Society is looking at brands more holistically and therefore companies should, too. Word of mouth is much more powerful nowadays, especially in light of social media making good (and bad) feedback on your brand a bit more permanent.
Kyla Göbel: A new writer, from Cape Town, who has a passion for music, photography and people. She is also currently finding her way in the digital marketing sphere. In addition, Kyla fundamentally believes there is a creative solution to everything in life, and that with hard work anything is possible.